In this Master Class course on Objectives and Key Results (OKRs), Silvija Seres speaks to Karl Philip Lund who is CEO in Inevo and a lecturer at Kristiania University College. Lund teaches his students at Kristiania University College the concepts of OKRs, a system that has been popularized by Google. OKRs are a system that helps organizations execute better. At its core, OKR is a method to Inspire people to set and achieve ambitious goals. This Master Class series has four episodes, and this is the foundational course.
What is your education, and do you have any hobbies?
MBA in Technology and Innovation Management, infinite learner, golf, soccer, kayaking, digital marketing, OKR, and more recently Blockchain and cryptocurrency. Although these days most of my spare time is dedicated to two small children at home.
What is your professional motivation, your main project at work, why is it important?
I love diving deep into different subjects and becoming really good at them. And then ... usually before I'm ready, I share the knowledge publicly and apply the knowledge rapidly to different projects. I usually say that the best definition of strategy is:
Pick a general direction and implement it like hell!
Why is it challenging, and how do you build the culture around this work?
It's challenging because people are different!
In the classroom - at the university level - a lot of students have lost their passion for learning. I try to tell students that there's no speed limit for learning. Anybody can learn whatever they want as fast as they want. Sadly, it takes time for students to understand this!
We try to build a culture of psychological safety both in the classroom and in the workplace because we know that psychological safety is critical in order to create successful teams.
Can you explain your topic in the simplest terms?
OKRs - A system to help organizations execute better. At its core, OKR is a method to inspire people to set and achieve ambitious goals!
What are the five main concepts in your field?
Focus - OKRs force leaders to focus on the most important things and set the right goals (for the right reasons).
Align - OKRs ensure that everybody in the company knows the top priorities(transparency).
Commit - OKRs creates commitment among the people and teams involved (people set their own goals)
Track - OKRs shows people and the organization the progress
Stretch - OKRs nudges teams to set ambitious goals. Teams that aim high create better results even if they fail 50% of the time!
What does a successful implementation look like?
A successful implementation is when OKRs become a habit across the entire organization. Every period, across all departments and teams, people ask the same two questions:
What do we want to achieve?
How will we know that we've achieved it?
Successful implementations have a good rhythm, a clear process, good leadership, and a good culture.
Are there any major pitfalls?
There are many pitfalls in OKRs. Here are the main ones:
Thinking OKRs are easy
Blindly Following the OKR textbook
Forcing OKRs on the organization
What are your 3 favorite examples?
Dig2103 Digital marketing class - The classroom example - OKR works for so many students!
INEVO.no- I like sharing my own experiences. It's been a struggle, but we're seeing results!
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What do you think would be key success factors for introducing OKRs in your organisation?
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