Given the glamour quotient behind companies using OKRs & their stupendous success, some companies mistake OKRs as a solution to all their problems.
As we touched upon in the last lesson, OKRs won’t succeed if the underlying values are not practiced. Additionally, ONLY practicing those values does not guarantee success.
Bottom line is – OKR is not a silver bullet & it won’t get rid of all the problems your business faces. Rather, it will help you uncover those problems.
For example – often times, we see companies using ‘Increase revenue’ as one of their top level objectives. While there is nothing wrong with this being a top level objective, teams fail to see that just creating this objective won’t help increase revenue. Trickiest part is the process of designing OKRs at the team & individual level, so that they support this top level objective. That is where translation of strategy into execution happens.
OKRs won’t make you successful just by their presence. You have to convert the framework into your own process & monitor it along the way as you learn more about your team’s take on it. The process needs to be consistently monitored for efficiency & effectiveness.