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tability.ioWhat are Business Understanding OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
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 Understanding 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.
Business Understanding OKRs examples
You'll find below a list of Objectives and Key Results templates for Business Understanding. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
OKRs to enhance understanding of business requirements
ObjectiveEnhance understanding of business requirements
KRComplete 3 online courses about business requirements analysis and documentation
Diligently complete all course materials and assessments- Identify suitable online courses in business requirements analysis
- Register for three chosen online courses
- KRConduct 5 cross-departmental informational interviews per month
- Conduct and document the informational interviews
- Identify five potential interviewees across various departments
- Schedule and plan the interviews
- KRCreate checklist for comprehensive business requirement gathering in 2 weeks
- Design draft of business requirement checklist
- Identify key stakeholders for business requirement gathering
- Establish critical business needs and objectives
OKRs to swiftly comprehending and mastering the company's business and workflow
- ObjectiveSwiftly comprehending and mastering the company's business and workflow
- KRAttend and actively participate in at least three departmental meetings per week
- Actively participate in discussions during the meetings
- Schedule three department meetings in your calendar weekly
- Read agenda prior to each meeting and prepare questions
- KRMaster key company software or tools by completing online training with a 90% score
- Identify relevant online training for key company software
- Complete these training courses diligently
- Achieve a minimum of 90% score in all courses
- KRComplete all assigned business projects with a 95% success rate
- Regularly monitor and review progress
- Prioritize projects based on deadline and difficulty
- Allocate resources and personnel efficiently
OKRs to enhance understanding of royalty structures in business contexts
- ObjectiveEnhance understanding of royalty structures in business contexts
- KRInterview 3 professionals in the field of royalties in businesses
- Draft relevant interview questions tailored for each professional
- Identify three professionals in the royalties business field
- Schedule and conduct the three interviews
- KRRead and summarise 5 books related to business royalties
- Write a concise summary for each book
- Select and procure 5 relevant books about business royalties
- Carefully read and interpret each book
- KRDevelop and present a detailed report on the role of royalties in business
- Prepare a presentation highlighting report findings
- Research the significance and mechanism of royalties in business
- Compile gathered data into a comprehensive report
OKRs to broaden understanding of agent's role in business operations
- ObjectiveBroaden understanding of agent's role in business operations
- KRAttend two professional seminars or webinars focused on the agent's role in the business
- Register for two chosen professional seminars or webinars
- Attend and actively participate in these webinars
- Research upcoming webinars focused on the agent's role in business
- KRConduct informational interviews with five business agents to gain first-hand information
- Schedule and conduct interviews with selected agents
- Identify five business agents relevant to the project
- Draft insightful questions to ask during interviews
- KRComplete three agent case studies with cross-industry analysis by quarter-end
- Identify three agent cases from diverse industries for study
- Compile findings and complete final report by quarter-end
- Perform a detailed cross-industry analysis on chosen case studies
OKRs to accelerate understanding and mastery of company's business and processes
- ObjectiveAccelerate understanding and mastery of company's business and processes
- KRGain necessary certification or validation, if any, related to the business operations by Week 6
- KRComplete onboarding process and training modules with 100% score by end of Week 2
- Review the onboarding process and training module guidelines thoroughly
- Practice modules daily to maintain knowledge retention
- Ensure completion and master all assessments by Week 2
- KRDemonstrate understanding by identifying and proposing improvements to existing workflow by Week 4
- Analyze current workflow for potential inefficiencies
- Develop concrete suggestions for workflow improvements
- Present proposed changes by Week 4
OKRs to acquire comprehensive understanding of various companies' missions
- ObjectiveAcquire comprehensive understanding of various companies' missions
- KRRead and analyze mission statements from 50 different industries each week
- Obtain mission statements from each industry
- Compile a list of 50 different industries
- Schedule weekly sessions to read and analyze statements
- KRConduct four in-depth case studies on companies with unique missions monthly
- Identify four companies with unique missions
- Research company background and specifics
- Compile findings into comprehensive case studies
- KRParticipate in two webinars or relevant industry events every month
- Schedule and register for two relevant events
- Attend and actively participate in webinars/events
- Research upcoming webinars or industry events in your field
How to write your own Business Understanding OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe your goals
Tability will then use your prompt to generate a fully editable OKR template.
Watch the video below to see it in action 👇
Option 2. Optimise existing OKRs with Tability Feedback tool
If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability 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.
You can then decide to accept the suggestions or dismiss them if you don't agree.
Option 3. Use the free OKR generator
If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.
Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.
Business Understanding 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
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.
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
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
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.
How to track your Business Understanding OKRs
The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. 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
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Business Understanding OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to master the fundamentals of data analysis
- OKRs to improve efficiency of payroll processing metrics
- OKRs to integrate UX testing insights into decision-making
- OKRs to enhance communication and training for Business-led IT services
- OKRs to enhance productivity in grain crop farming
- OKRs to prepare a perfect and precise financial statement