Goal Setting

Goal Setting and Management Framework in action

Goals and objectives are used interchangeably in today’s world, and there is no standard definition available. In OKR framework, we use the term objectives and not goals. OKR is also a goal setting and goal management framework like SMART, balanced scorecard etc.,

Whether we call it as a goal or an objective, we are referring to something that we want to achieve.

SMART stands for the below. This framework expects goals to be

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time bound

All the aspects of SMART can be used in OKR except achievable. OKR framework expects us to pursue aggressive outcomes and timelines.

It’s absolutely ok to fail. When we set targets, we typically set aspirational targets or stretch targets. Even if you achieve 70% of the stretch target, its good enough and that in itself is a great achievement. An inherent aspect of the stretch target is that it’s entirely possible to fail to achieve even 50% of the target sometimes. So, be prepared to fail.

If an organization is so concerned about driving “all green” metrics, I would say that that organization is not ready for OKR. Even if that organization tries to implement OKR, they will fail. So, organization culture plays a very important role in OKR.

We follow the following steps in OKR process:

  1. Define and align objectives
  2. Identify key results
  3. Finalize initiatives
  4. Track and update
  5. Move on

#goalmanagement #smartgoals #stretchgoals