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What are Business Strategy OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
We've tailored a list of OKRs examples for Business Strategy to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
The best tools for writing perfect Business Strategy OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
Business Strategy OKRs examples
We've added many examples of Business Strategy Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
OKRs to formulate and Implement a robust Business and Product Strategy
ObjectiveFormulate and Implement a robust Business and Product Strategy
KRImplement and test product strategy with a minimum viable product in 6 weeks
Develop a prototype of the minimum viable product- Implement a detailed product strategy
- Conduct rigorous testing and gather feedback
- KRDevelop a comprehensive business strategy with measurable goals within 3 weeks
- Draft a comprehensive, strategic business plan
- Define measurable, time-bound business goals
- Research market trends and study competitors for business strategy formulation
- KRIdentify and analyse 5 key competitor business strategies within next quarter
- Identify 5 main competitors in the market
- Analyze each strategy's effectiveness and performance
- Research and note down their business strategies
OKRs to establish a new vertically integrated business line
- ObjectiveEstablish a new vertically integrated business line
- KRLaunch a pilot project using this business line, achieving 20% ROI
- Develop a comprehensive business strategy to ensure 20% ROI
- Identify a suitable project for implementing the new business line
- Execute the pilot project using the developed strategy
- KRCreate a business plan incorporating these competencies by the quarter's end
- Draft a business plan incorporating the identified competencies
- Identify and list the specific competencies required for the business plan
- Refine and finalize the business plan for presentation
- KRIdentify and define 3 core competencies relevant to the new business line
- Set clear definitions for each identified core competency
- Research core competencies critical for success in the new business line
- Establish relevancy of each competency to the new business
OKRs to achieve promotion to an executive position
- ObjectiveAchieve promotion to an executive position
- KRDevelop and implement a new business strategy resulting in 10% revenue increase
- Execute new strategy, monitor progress, adjust tactics as necessary
- Evaluate current business strategies, identify areas for potential growth
- Develop a comprehensive plan to increase revenue by 10%
- KRReduce department expenses by 15% without sacrificing quality
- Negotiate vendor contracts for better pricing deals
- Identify areas of unnecessary spending within the department
- Implement cost-efficient technology solutions
- KRIncrease team project completion rate by 20%
- Implement regular status checks and progress reporting
- Provide training in efficient project management tools
- Improve workload distribution amongst team members
OKRs to optimize the company's financial ratio
- ObjectiveOptimize the company's financial ratio
- KRImprove return on investment ratio by 15% through innovative, profit-focused business strategies
- Research successful innovative profit-focused strategies in similar businesses
- Implement selected profit-focused strategies firm-wide
- Routinely monitor and adjust strategies to maximize profit
- KRIncrease current ratio by 20% through improved asset management and liability reduction
- Optimize cash flow by collecting receivables swiftly
- Improve inventory turnover rate through efficient management
- Implement stringent budget controls to reduce unnecessary spending
- KRDecrease debt-to-equity ratio by 25% by consolidating and repaying outstanding loans
- Evaluate all outstanding loans and identify for consolidation
- Arrange for a convenient debt consolidation plan
- Regularly repay consolidated debt to decrease ratio
OKRs to secure series A financing
- ObjectiveSecure series A financing
- KRDevelop a compelling business plan and pitch deck
- Conduct market research and identify target audience for business plan
- Incorporate financial projections and ROI analysis to support the business plan and pitch deck
- Clearly outline the problem, solution, and value proposition in the business plan
- Create a visually appealing pitch deck with concise and engaging content
- KRAchieve a 10% increase in investor meetings
- Establish and maintain relationships with key industry influencers and networks to expand investor connections
- Increase outreach efforts to potential investors through targeted email campaigns
- Develop and deliver compelling presentations to attract investor interest and secure meetings
- Utilize social media platforms to promote our company and engage with potential investors
- KRIncrease investor outreach by 50%
- Create personalized email campaigns for targeted investor segments
- Develop a comprehensive database of potential investors
- Leverage social media platforms to engage with potential investors and share updates
- Schedule regular investor meetings and webinar sessions to disseminate information
- KRReceive positive feedback from at least 75% of the potential investors
- Conduct thorough research on potential investors to understand their interests and preferences
- Follow up with investors promptly, addressing any questions or concerns they may have
- Deliver a compelling and concise presentation that clearly communicates the value proposition
- Tailor pitch deck to highlight benefits and potential returns for investors
OKRs to establish credibility and affordability in the tour agency market
- ObjectiveEstablish credibility and affordability in the tour agency market
- KREstablish partnerships with 3 major local tourism providers for affordable packages
- Initiate meetings to present proposals and negotiate terms
- Develop package proposals tailored to each provider
- Identify potential local tourism providers for partnership
- KRGenerate 20% increase in return customers through competitive pricing strategies
- Develop and implement competitive pricing structure
- Evaluate and adjust pricing strategies based on business performance
- Research competitors' pricing strategies and consumer responses
- KRSecure 5 positive testimonials from satisfied customers
- Reach out to happy customers to request testimonials
- Follow-up on testimonial progress after consultation
- Brief customers on testimonial forms and content expectations
OKRs to implement a robust outbound strategy for enhanced recruitment and service provision
- ObjectiveImplement a robust outbound strategy for enhanced recruitment and service provision
- KREstablish partnerships with 10 new businesses for mutual referrals
- Initiate contact and propose mutual referral partnerships
- Identify potential businesses for partnership opportunities
- Formalize partnerships through written agreements
- KRIncrease conversion rate by 20% through targeted follow-up communications
- Identify target audience for follow-up communications
- Design personalized, engaging follow-up messages
- Analyze and optimize follow-up communication effectiveness
- KRGenerate 15% increase in qualified leads via cold emails and calls
- Schedule regular cold calls to the leads, tracking responses
- Draft personalized cold emails based on leads' interests and needs
- Develop a targeted list of potential leads from industry-specific sources
OKRs to develop relevant KPI examples for service designers in businesses
- ObjectiveDevelop relevant KPI examples for service designers in businesses
- KRIdentify 10 common KPIs used by service designers across various industries
- Interview service designers about their preferred KPIs
- Review industry reports for commonly used KPIs
- Research online for popular KPIs in service design
- KRTest three KPI implementation strategies with five businesses and solicit feedback
- Implement three KPI strategies in selected businesses
- Identify five businesses to test KPI strategies on
- Collect feedback from these businesses on effectiveness
- KRCreate a detailed blueprint for implementing each KPI within two weeks
- Identify crucial KPIs relevant to the business's goals and operations
- Design a comprehensive implementation plan for each KPI
- Set a timeline and dedicate resources for KPI implementation
OKRs to conduct thorough analysis of two main competitors
- ObjectiveConduct thorough analysis of two main competitors
- KRIdentify and list 10 key business strategies of each competitor by week 4
- Complete and review strategy lists by week 4
- Research competitors and their unique strategic approaches
- Compile a list of 10 strategies per competitor
- KRCraft and present a detailed comparative report on competitor strategies by week 8
- Research and compile data on current competitor strategies
- Develop a comparative analysis from gathered data
- Prepare and rehearse a detailed presentation report
- KRAnalyse and document competitive product benefits and drawbacks by week 6
- Document drawbacks of competitive products by week 6
- Identify main competitors and their respective products by week 2
- Evaluate competitive product benefits by week 4
OKRs to enhance proficiency in data-driven decision making
- ObjectiveEnhance proficiency in data-driven decision making
- KREffectively use data to drive at least five major business decisions
- Identify key metrics and data points relevant to decision-making
- Implement a comprehensive data tracking system
- Regularly analyze and interpret data for insights
- KRHandle and interpret data from at least three different company projects successfully
- Report findings and implications to relevant teams
- Acquire data from three diverse company projects
- Analyze and interpret collected data accurately
- KRComplete two online courses on data analytics by industry-leading platforms
- Identify two industry-leading platforms offering courses in data analytics
- Dedicate time to complete both courses regularly
- Sign up for a data analytics course on each platform
Business Strategy OKR best practices
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to weekly OKR check-ins
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
Save hours with automated OKR dashboards
OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Spreadsheets are enough to get started. Then, once you need to scale you can use Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More Business Strategy OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to mobile and QR code integration
- OKRs to achieve 90% in English subject
- OKRs to improve job prospects, personal relationships, and health this summer
- OKRs to improve overall HR efficiency and employee satisfaction
- OKRs to enhance Quality Assurance automation capacity
- OKRs to enhance proficiency in construction related principles with academic coursework