Modelling is where you look to replicate excellence by mastering what creates excellent results in others. Google is pretty successful so could you (or should you) look to use their management system in your business?
Keep in mind two things:
- A paper from the Federation of Small Businesses found that a 20% improvement in management effectiveness is the same as having 25% more employees or 65% more capital
- Excellent management costs virtually nothing
Right from the start Google they have used a very simple system to ensure they get stuff done. It’s called Objectives and Key Results (OKRs). The objectives are the goals or desired outcomes. The key results are the drivers or actions that will achieve the objective.
The objectives start right from the top with the big picture of what the company wants to achieve. The objectives then cascade down through departments, teams and eventually to individuals. This ensures everyone in the company is aligned and focussed on executing the company’s strategy.
How to use OKRs?
First set an ambitious objective which feels a little uncomfortable, and then identify the key results that will enable you to achieve the objective – make sure these are measurable and end up with the objective being achieved.
Look to review your company’s OKRs every quarter and record and report key results every day or week.
Make the reporting transparent and meet one-to-one regularly and publish results each week or month in team meetings.
If you would like a software system to help you implement OKRs get in touch.