Stretch goals and OKRs are similar concepts, but they have some key differences. While stretch goals involve setting an achievable goal and then adding 10-20% to it, OKRs focus on setting Key Results (KRs) that represent the “best possible” outcome. The idea behind “best possible KRs” is to set goals that are important, challenging, and realistically achievable.
It’s important to note that the “best possible” goal may not always be a lofty one. Sometimes, external factors or the current business environment can make it difficult to achieve ambitious goals. In such cases, the “best possible” goal may be more modest but still challenging given the circumstances.
Ultimately, the OKR framework allows companies to set meaningful goals and track their progress effectively. By focusing on important and challenging objectives, organizations can drive strategy execution and improve their overall business performance.