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OKRs are goals. It’s a goal setting framework however it goes beyond one and done goal setting, they connect an organizations strategic priorities to how each team member can contribute to them, democratizing strategy. It goes beyond KPIs to look forward at leading indicators and bolder beyond standard metrics or attainable goals. It connects the why to the what. They are localized to each team and are flexible with retrospectives set into the cadence so teams can pivot and shift at the speed of work.
Other methodologies such as KPIs and MBOs are complementary to OKRs, but they lack the deep connection to the Why… why are we taking the actions we take and how can we use specific measured results to continually re-align our actions to our stated objectives. This is a key point… while KPIs help to provide a record of past performance for vital signs, sort of like taking a pulse, OKRs are not annual goals set and measured for periodic reports. They are part of an ongoing process that realigns objectives, actions and results throughout the year-- up, down and across the organization.