4 customisable OKR examples for Business Profitability
What are Business Profitability OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
We've tailored a list of OKRs examples for Business Profitability to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Business Profitability OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Feel free to explore our tools:
- Use our free OKR generator
- Use Tability, a complete platform to set and track OKRs and initiatives, including a GPT-4 powered goal generator
Our customisable Business Profitability OKRs examples
You'll find below a list of Objectives and Key Results templates for Business Profitability. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
1. OKRs to increase overall business profitability
Increase overall business profitability
Enhance product pricing to boost gross profit by 15%
Analyze competitors' pricing strategies for comparable products
Implement cost reduction measures to increase profit margins
Adjust pricing based on product demand and value perception
Implement process optimization strategies to cut operational costs by 7%
Identify and analyze areas with high operational costs
Evaluate the impacts regularly and make adjustments
Develop and apply process optimization strategies
Attain a 10% net profit margin by improving cost efficiency
Identify unnecessary costs and eliminate them
Implement more cost-effective processes and procedures
Train employees on cost efficiency practices
2. OKRs to boost sustainable growth and profitability of the business
Boost sustainable growth and profitability of the business
Reduce operational costs by 10% through efficiency improvements
Implement energy-saving measures in all company facilities
Streamline processes to eliminate non-value-adding activities
Invest in cost-effective, high-efficiency equipment
Grow customer base by 20% with green initiatives
Host community events showcasing company's commitment to sustainability
Develop a marketing campaign focusing on company's environmental efforts
Implement a customer rewards program for eco-friendly purchasing decisions
Increase net profit margin by 15%
Evaluate pricing strategies, increase price where appropriate
Improve operational efficiency to reduce waste
Implement cost-cutting measures for overhead expenses
3. OKRs to expand business operations while ensuring economic sustainability and profitability
Expand business operations while ensuring economic sustainability and profitability
Increase net profit margin by 15% through cost management and optimization strategies
Negotiate with suppliers for lower purchasing prices
Eliminate unnecessary expenses and wasteful processes
Implement energy efficiency measures to reduce utility costs
Improve operational efficiency by 20% with technology-based process enhancements
Upgrade existing technology to newer, more efficient models
Implement automated workflow software for routine processes
Train employees on utilizing technology for increased productivity
Gain 10 new high value contracts to diversify company revenue streams
Directive focused negotiation and closing of 10 high-value contracts
Develop personalized pitch proposals for each targeted client
Identify and target 15 potential high-value clients in diverse industries
4. OKRs to boost profitability of innovative projects
Boost profitability of innovative projects
Achieve 20% increase in revenue from innovative projects
Execute innovative projects with high profitability potential
Develop unique, practical ideas for potential projects
Implement research on trending market and customer needs
Secure 10 high-value partnerships for collaborative innovation projects
Research and identify potential high-value partnership opportunities
Initiate engagement and negotiation processes with potential partners
Craft detailed and enticing partnership proposals
Enhance project visibility by 50% through targeted marketing efforts
Allocate resources for prominent online ad spaces
Develop compelling marketing content to attract audience
Identify key demographic for targeted marketing strategies
Business Profitability OKR best practices to boost success
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/tability-insights-board.e70f9466.png)
Tip #2: Commit to weekly OKR check-ins
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
Being able to see trends for your key results will also keep yourself honest.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/checkins-graph.b2aec458.png)
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
How to turn your Business Profitability OKRs in a strategy map
The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
![A strategy map in Tability](https://tability-templates-v2.vercel.app/_next/static/media/tability_strategy_map.2ad25843.png)
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Business Profitability OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to develop high-quality English language arts assessment items
OKRs to to enhance and maximize business stakeholder engagement
OKRs to effective implementation of DevSecOps in the team
OKRs to boost new customer revenue on Amazon by 50%
OKRs to deliver projects on time
OKRs to enhance the quality of software releases through manual testing
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
Create more examples in our app
You can use Tability to create OKRs with AI – and keep yourself accountable 👀
Tability is a unique goal-tracking platform built to save hours at work and help teams stay on top of their goals.
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