Strategy implementation with OKRs
We held a mini-interview with Dr. Tobias Flinspach, Managing Director, PMC - The Performance Management Company, Switzerland, who will give a lecture on "Strategy implementation with OKRs" at:
1. What is OKRs and why is it so popular?
OKRs shift management focus from backward looking budget actual comparison to a forward-looking management of actions to implement strategy. OKRs are not really new but the overcome several problems of existing performance management system in companies.
2. What is the potential of OKRs application for companies?
OKRs can help to improve strategy implementation. According to studies most companies do not fail because of the wrong strategy but in implementing it.
3. What are the main prerequisites for the application of OKRs in organizations?
At the bottom line it is a leadership instrument. Companies need a transformational leadership with a certain failure culture to successfully implement the OKR approach.
4. Can you give an example of the usefulness achieved from the application of OKRs in business practice?
Performance Management aims to make strategy everybody’s everyday business. OKRs (implemented successfully) have the potential to get closer to that vision increasing motivation, creativity and results of the organization. We implemented OKRs in a call center of an insurance company. When employees found out they can have an impact on strategy even high level KPIs regarding customer satisfaction improved. I will come back to that example during my presentation.
If you want to learn more about the benefits and implementation of OKRs in business practice, join us at: 3. MENADŽERSKA KONFERENCIJA: Agilne metode u praksi I Agile methods in practice, 31.03.2022.
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