OKR SUCCESS USING CAUSE-AND-EFFECT LOGIC
Cause-and-effect logic is a critical approach in developing strategy. Cause-and-effect logic uses an “if-then” approach; that is, for example, “If we want to achieve Result X, then we need to take Actions Y and Z.”When cause-and-effect logic is applied to OKRs (short for Objectives and Key Results), excellent performance usually results. OKRs are nimble and straightforward to […]
CONNECTING OKRS THROUGH HORIZONTAL ALIGNMENT
My last blog described how one of the most powerful applications of OKRs is that they can easily be cascaded down throughout the organization. Another big plus about OKRs, is that they can be aligned across the organization in horizontal fashion as well. The ability to align up and down, and side-to-side is what makes OKRs so […]
CONNECTING OKRS TO MAXIMIZE ALIGNMENT
One of the most powerful applications of OKRs is that they can easily be cascaded down throughout the organization. In other words, we usually start with the corporate OKRs. From those we can create a series of business unit OKRs, then team-based OKRs, and from the team OKRs we can create individual OKRs for employees (perhaps all employees, or just a chosen grouping of employees). Because all of the OKRs are linked right back up to the corporate OKRs, which are based on the chosen strategy, vertical alignment is a near certainty which is very important when trying to improve performance.
OKRs can be very powerful for promoting teamwork and goal congruence, which lead to maximizing corporate performance. Ensuring alignment with the value proposition is critical; setting out well-planned corporate OKRs and cascading them downward is vital to keep everyone in the organization working toward the same objectives. This short video walks you through an example of connecting OKRs to gain vertical alignment:
https://www.youtube.com/watch?v=4Y84xXBfyWk&feature=youtu.be
While vertical alignment is critical in achieving strategic objectives, horizontal alignment (i.e. connections acrossbusiness units and teams) is also extremely important. Stay tuned for more on that topic.
Call now or contact us online if you would like to better understand how OKRs can revolutionize your organization. Whether you are in Toronto or elsewhere, we can assist in your efforts to better formulate and execute your business strategy. And stay tuned for more blogs and videos on the mechanics of OKRs.
#okr, #okrs, #objectivesandkeyresults,#strategymapping, #balanced scorecard, #strategicplanning, #strategicalignment, #valueproposition
OKRS: A PRACTICAL EXAMPLE
OKRs are quickly gaining traction as one of the most powerful and agile ways to maximize corporate performance. One of the main reasons is that the return on investment in terms of the value-to-effort ratio is extremely high. OKRs are nimble and straightforward to implement, and typically generate huge returns for adopters. To give a […]
STRATEGY MAPPING: CHOOSING CUSTOMER STRATEGIES
With the value proposition chosen and financial strategies determined, organizations must turn focus to their strategies and plans to win the marketplace. In other words, they must take the next step of clearly establishing and articulating their customer strategies. This is where branding and loyalty become extremely important in terms of focus. Customer strategies should […]
STRATEGY MAPPING: CHOOSING FINANCIAL STRATEGIES
One of the middle steps in strategy mapping is to choose the financial strategies that align with the value proposition and overriding objective. Financial strategies tend to fall into three categories: 1. Revenue growth 2. Productivity 3. Asset utilization Revenue growth This one seems fairly self-explanatory: it still merits some discussion given the number […]
Choosing the organizational value proposition
Organizations that try to please everyone ultimately please only a few and disappoint many more. In contrast, organizations that narrow and focus their target markets, catering specifically to them, stand a much better chance of becoming a market leader and achieving strategic objectives. Though it might sound strange, there can actually be several market leaders […]
The importance of choosing the right overriding objective
For any organization, the overriding objective is a term that refers to the “raison d’être”, the main reason that the organization even exists. It is critical that the entire senior management team be in consensus on what this is. And while that may sound obvious, the fact is, most senior managers tend to have different […]
Keeping strategy simple: companies need to focus on a simple four-step plan for success
Strategy is complex but it doesn’t need to be complicated. Most businesses can gain a lot of momentum and results by following a four-step formula for strategic success 1. Plan Companies need to have a great understanding of the competitive landscape both internally and externally. A thorough size up, which includes a good hard look […]