Objectives and Key Results (OKRs) are a management process for setting goals. It is designed to help managers and employees focus on the most important issues in their work. An objective is a measurable result or outcome that you want to achieve in a given time frame. A key result is the specific activity that needs to be completed in order to achieve an objective. Objectives are usually set at a company level, while key results are usually set at an individual level. The first step in establishing OKRs is setting objectives, which should be SMART (specific, measurable, achievable, relevant and time-bound). A good objective will serve as a compass for your team’s efforts over the course of the quarter or year.