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What are OKRs and KPIs

Every organization's top priority is to steadily enhance performance. By measuring and tracking everyday actions, the strategic framework of OKR and KPI enables firms to monitor their ongoing performance and make necessary improvements.<br>Some business management platforms think that OKR and KPI should be replaced since they conflict with one another. However, after a thorough analysis, it appears that OKR and KPI are the frameworks that serve the interests of each business while also being distinct from one another.

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What are OKRs and KPIs

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  1. TABLE OF CONTENTS What are OKRs and KPIs? Types of OKR and KPI Benefits of OKRs and KPIs

  2. WHAT ARE OKRS? OKR represents Objectives and Key Results. It’s a strategic framework that is used by organizations to set measurable goals and track success. Objectives are often the aspirational goals limited by the time that drives your company forward.

  3. TYPES OF OKR Committed OKRs: Committed OKRs are the objectives that are decided by the whole team and are achieved by 100%. They can be achieved in a set interval of time and are more prone to success with less room for failure. Aspirational OKRs: Aspirational OKRs are more about taking bigger risks to reach the goal. But failing in between is somewhat expected when these aspirational objectives are set.

  4. BENEFITS OF OKR Keeps the team focused Helps to drive in the right direction Better alignment Effective communication with transparent work ethics Innovative ideas for a market-fit product

  5. WHAT ARE KPIS? KPI represents the Key Performance Indicator. They are more specifically the numeric values that are set for the individuals, different teams, and businesses to track their performance. These indicators help you observe and analyze how far you are from achieving your goals. KPIs are one of the ways for the stakeholders to keep track of the business performance and identify the areas where they need to improve.

  6. TYPES OF KPI Strategic KPIs: The strategic KPIs keep track of long-term organizational goals. When the KPIs are developed to track revenue, market share, and return on investment, they are considered strategic KPIs. Operational KPIs: An operational KPI conveys the performance of the organization in the short term, either daily, weekly, or monthly. Financial KPIs: The financial KPI conveys the financial performance of the organization and provides information on the operational expenses, total sales, profit gained, and working capital.

  7. BENEFITS OF KPIS There are several benefits of KPIs. By setting and measuring the KPIs, organizations can improve their performance in numerous ways. Take a look at some of the benefits below. Enhance the productivity of individuals and teams Better evaluation of performance Makes accountable for performance Helps in making plans to achieve the objectives

  8. THANK YOU CONNECT WITH US hello@prodeasy.com https://www.prodeasy.com/

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