Understand what OKR is and its importance in a business
Do you know what OKR is? This is an increasingly used methodology in business sectors around the world. That's because it's a strategic structure to define growth goals within an enterprise. More than that, the method aims to improve management processes. Despite being a very widespread issue in the labor market in different companies, OKR is still a topic that raises some doubts about its concept and operation. Given these facts, Clicksign has gathered the main information on the subject to keep you up to date.
Read on and learn what OKR is, how it works in practice, the difference with KPI and its importance in the business universe. Enjoy and check out our article talking about How does ESG work in the management of a company.
After all, what is OKR and how does it work?
OKR is the acronym for Objectives and Key Results, in free translation, Objectives and Key Results, a methodology designed to develop, in practice, the management of a company. In other words, it's also true to say that OKR works to standardize goals. With the aid of naming, we can assign objectives such as the goals to be achieved and the direction with the next steps to be taken. The “key results” are the measures that will show whether the objectives were achieved or not - basically, they are the smaller goals of a project. With this brief definition, we were able to observe a little more about the importance of this method in the strategic processes of an institution. When we talk about Objectives and Key Results, we are talking, above all, about a set of good practices to boost an enterprise. Understanding that a company needs organization and planning, OKR comes to further improve these aspects. Given the facts, we can also highlight that this is an intelligent strategy that many companies have not yet adopted, discrediting the importance of having consolidated tactics in business processes, stages, and sectors.
How OKR stands out from other traditional methods
The difference between OKR and other traditional methodologies, widely used by companies with more time in the market, is, basically, efficiency and success. With the advent of technologies in the business sector in recent years, we can have access to methods, tools, and strategies that seek to increasingly optimize a company's processes, resulting in exponential growth for organizations that risk adapting and using these new methods. Traditional methods, although they seem simpler and more sufficient, taking into account the main aspects of management, do not contemplate the main needs of a company, especially regarding the new ways of working, considering the transformations of the niche market being worked on. To this end, OKR works for any and every enterprise that wants to improve its processes. We talk more about this evolutionary moment in this post:”What is the Fourth Industrial Revolution and What You Need to Know About It”. It's worth checking out!
OKR and KPI: Understand the difference
OKR and KPI have close conceptualizations, but they are not the same thing. While the OKR works directly on management to achieve goals, the KPI is the Key performance indicator, that is, a method for measuring the development of a company, using a team of collaborators to carry out the assigned metrics. Both are management tools, but each one has its own peculiarities and objectives. To determine the best option for your business, you must accurately understand how each of these methodologies works. If you need to better direct your activities, for example, OKR is the best option, but if what you need is to measure the results of your business, KPIs will be more effective.
The importance of OKR for a company
Having understood the main aspects about the definition and conceptualization, it is time to understand the importance of OKR in the business scenario. This innovative management model opens doors to define growth and updating goals for a company, and we cannot fail to mention one of them as the use of digital documents with digital signatures and automation systems and APIs. Digital documents and signatures are part of the digital transformation process that companies and other social sectors have undergone and are undergoing. We talk a little more about the subject in this publication: The digital evolution in Document Management and its advantages. Be sure to check it out! In addition to this, the importance of OKR is also due to other aspects. To clarify, we have selected the main benefits of Objectives and Key Results:
- inclusion of processes that are simple to carry out;
- practicality for achieving small and large goals;
- involvement of the entire team of employees;
- firm orientation towards the company's objectives;
- high possibility of growth of the enterprise;
- increased performance and productivity in tasks.
Now that you know what OKR is and the importance of its implementation, it's time to consider it for your business. Take advantage and also check out our various content on business automation and digital signature on the Clicksign blog! Clicksign is the ideal solution to accelerate the growth of your business! If you want to know more about how Online Document Signing can revolutionize your processes, click here and talk to an expert.
