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You’ve heard these terms before, but how are they similar and yet also different? It’s common to compare an OKR vs. KPI vs. Goal as they garner much use in the business world, and understanding how each helps your organization strategize is an important distinction.

Goals involve a single statement, are SMART (Specific, Measurable, Actionable, Responsible, Timebound), and are always outcome-based. For example, we plan to increase revenue from strategic accounts to seven million dollars by April 30th.

OKRs (Objectives and Key Results) are a unit; the objective is non-measurable, while the key results are measurable. The process includes identifying one objective and two to three key results. For example, if our objective is to grow strategic accounts, our key results might be to acquire five new accounts, increase revenue from current strategic accounts, and launch a new campaign.

KPIs (Key Performance Indicators) are always quantifiable, include a data source, should be reported on every month, and are measureing “business as usual” (BAU). For example, our KPI would be the targeted dollar amount in revenue from strategic accounts (going off of our previous example, this would be $7seven million dollars).

You will notice similarities, precisely our OKR key result, “increasing revenue from current strategic accounts,” can also be a KPI. AlsoIn addition, our OKR objective can be constructed more like a goal. MeaningIn other words, our objective can be a specific outcome that the key results are driving.

Use this comparison of an OKR vs. KPI vs. Goal in your organization’s strategic plans and learn more below.

More information is available at https://www.OnStrategyHQ.com

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