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Companies use Key Performance Indicators (KPIs) to evaluate their performance. These indicators can help identify problems, areas of improvement, and overall progress. They are also used as a strategic planning tool to measure and articulate a business strategy over a period of time.
KPIs are typically measured in terms of quantity and quality. Their goals are attainable and measure the current process. However, it’s important to remember that a KPI isn’t the same as an objective. An OKR, on the other hand, is a more strategic goal that breaks down into key results.
Objectives are the firm’s primary strategic vision and goals. They set the direction for the team and encourage employees to follow a path toward customer success. Typically, the business goal is achieved through a combination of projects and activities.
Key Results, on the other hand, are metrics that are designed to make the roadmap impactful. This is especially helpful if the company is trying to change its overall direction.
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