Legendary venture capitalist John Doerr unveils the power of Objectives and Key Results (OKRs), a goal-setting system that has driven explosive growth for tech giants like Intel and Google, and how it can benefit any organization. In 1999, Doerr invested a record-breaking $12.5 million in a startup founded by Larry Page and Sergey Brin, who possessed groundbreaking technology and ambitious dreams but lacked a concrete business plan. To succeed, they had to prioritize effectively and keep their team on course. They needed to know when to abandon losing ventures and fail fast, as well as monitor their progress with timely, relevant data.
Doerr introduced them to OKRs, a proven approach to achieving operational excellence that he had discovered during his time as an engineer at Intel under the guidance of the legendary Andy Grove. Later, as a venture capitalist, Doerr shared this brainchild with over fifty companies, and wherever it was implemented faithfully, it proved to be effective.
In this goal-setting system, objectives define what an organization aims to achieve, and key results outline the specific, measurable actions to accomplish these high-priority goals within a designated timeframe. Transparency is a key aspect, with everyone’s goals, from entry-level employees to the CEO, visible to the entire organization. The benefits of OKRs are significant, as they highlight an organization’s most crucial work, focus efforts, foster coordination, and keep employees aligned. Moreover, OKRs bridge objectives across departments, fostering unity and strength throughout the company. By utilizing OKRs, workplace satisfaction improves, and retention rates increase.
“Measure What Matters” provides a wealth of first-person, behind-the-scenes case studies, featuring narrators such as Bono and Bill Gates, to demonstrate how OKRs have driven focus, agility, and remarkable growth in numerous esteemed organizations. This book serves as a guide for the next generation of leaders, enabling them to harness the same magic that propelled the success of those who embraced OKRs.
