OKR stands for objectives and key results, and it is an objective planning methodology that has become increasingly popular with industry leaders.
OKRs can be difficult to wrap your mind around. We found having concrete examples helps beginners understand the value of OKRs.
This article will look at 5 OKR examples in different industries that you can apply to your business.
Retail Stores OKR Examples
If you already work in the retail industry, you understand how competitive it is. Whether online or brick and mortar, every store is competing for consumers’ limited time and money. Every retail store is looking for a competitive advantage to give their customers a great experience at a good price point.
In this example, we will be looking at an OKR used to improve the efficiency of a physical store’s inventory, so new products are constantly being placed on the shelves.
Objective: Increase efficiency in in-store operations
Key result: Increase Gross margin return on inventory investment by a dollar
Key result: Increase inventory checks to two times a month
Telecom Services OKR Examples
The telecom service industry has to deal with constant technological upgrades that exponentially increase consumers’ expectations of the service they should receive. Telecom service companies have to stay up to date with these advancements, and below, we have an OKR example that deals with that issue.
Objective: Increase Company’s 5G Coverage
Key Results: Increase the amount of 5G stations we have operating
Design Teams OKR Examples
Design teams often struggle to balance their creative side with the side needed to run a successful business. Other business decisions can often get in the way of creative thinking but are necessary to keep the company afloat.
Objective: Increase click-through rate on social media posts
Key Results: A 10% percent increase in click-through rate on Instagram post
Health Care Industry OKR Examples
Similar to the telecom industry, the healthcare industry must adapt to new advancements that come from new medical technology or new drugs approved after clinical research. The healthcare industry requires excellent efficiency as customers and patients expect to have a streamline experience whether they are with their home doctor or going to a county hospital.
Objectives: Boost the hospital’s operational productivity
Key results: Increase the usage rate of hospital equipment by 8 percen
Informational Technology Security OKR Examples
Informational technology (IT) security is a growing industry. Securing their information from outside forces is crucial as companies and organizations become entirely digitized. Having a secure network is key for customer trust, operational efficiency, and implementing corporate strategies.
Objectives: Overhaul Organization Anti Virus Software
Key results: Increase the number of internet-connected devices with the latest anti-virus software by 10 percent.
OKRs Can Improve The Efficiency of Any Industry
The objectives and key results framework has gained popularity for good reasons: it is effective. These OKR examples showcase how adaptive they can be in any industry. As long as you effectively communicate them throughout your organization, there is no reason it can’t work for you.