StrategyAccelerator / OKRs
To succeed in executing strategy in today’s fast-paced digital age, you need to have the correct mindset, methodologies and tools to develop, communicate, and implement your digital strategy and deliver results rapidly.
Detecon has partnered with Workboard, an expert in Objectives & Key Results (OKR) setting, to help your organization:
– Execute on company goals faster
– Ensure all team members are aligned with the business strategy
– Implement a structured, quarterly process to accurately define organizational goals
– Enable transparency in impacts across the organization
CEOs spend too much time setting their strategic direction, only to communicate this ineffectively
This approach results in a ‘set and forget’ result where less than 7% of people in an organization understand their company’s strategy. Ultimately, the strategy is documented and communicated through PowerPoint, emails and Town Halls. However, these don’t create more strategic agility – they don’t motivate employees to understand what is expected of their team, what they need to change, and what success looks like.
Implementing strategy should focus on being:
- Digital in nature: Focused on digital opportunities and implemented using the latest tech which enable people to update, track and share their progress with their peers
- Data-driven: Data should inform every decision that an organization makes. When certain goals are not on track, people should be able to easily identify this and rally to remove the roadblock.
- Agile: The strategy of an organization can rapidly change and so should your implementation. Setting “strategy sprints” for your organization are critical to driving your strategy forward.
How we do it
Objectives and Key Results is a methodology developed by Intel and popularized by Google which focuses the organization on greatness – driving the organization towards its objectives.
At Detecon, we accompany our clients throughout the OKR journey, starting with describing success through the use of Objectives (single sentence qualitative and aspirational statements), and then developing the set of Key Results (the important quantitative metrics) which measure progress towards those objectives for a team.
Detecon initiates the process at the top of the organization with the Executive Team defining their OKRs. Then, Detecon empowers each team underneath to define their OKRs and align with the teams above them, with the process continuing down the chain.
The process follows a 90-day (quarterly) cycle with review and reset sessions. This enables the company to measure continuous progress towards its objectives over 90-day increments.
OKRs help iterate, align and accelerate strategic outcomes more effectively in order to take advantage of new market opportunities, operate with higher velocity, and leverage the full potential of people and business capital.
Organizations that take advantage of Detecon’s OKR approach (in partnership with WorkBoard) are able to make their strategy and business plan with respective objectives clear throughout the organization, improving transparency and visibility. Additionally, OKRs provide a cohesive, real-time picture of the business with metrics consistently rolled up from disparate functions and systems. This improves agility while providing leaders with the capacity for better decision-making. Finally, OKRs help see how the every-day work of employees ties to the overall organizational outcomes, bringing people closer to the company vision and mission.