Finance and economics

Objectives and Key Results for Performance Management

This comprehensive course aims to provide an in-depth understanding of performance management through the effective use of Objectives and Key Results (OKRs) and the integration of Conversations, Feedback, and Recognition (CFRs). The course is designed to transition participants from traditional performance evaluation methods to a dynamic and engaging OKR system, enhancing alignment between individual contributions and organizational strategic goals. You will explore the theoretical foundations and practical applications of OKRs, learning how to craft, implement, and control OKRs tailored to their specific organizational contexts. The course emphasizes continuous improvement, strategic alignment, and the human aspects of performance management, ensuring that participants can foster a culture of transparency, accountability, and engagement within their teams.

Price

150€

Workload

1 ECTS

Type

Self-paced online

Languages

English

Course Structure
Objective and Key Results
  • Getting started
Module 1
  • Performance Management and OKRs
Module 2
  • Deriving Effective OKRs
Module 3
  • OKR Implementation
Module 4
  • Controlling OKRs
Module 5
  • OKRs and Conversations, Feedback and Recognition (CFRs)
Course Summary
  • Wrapping up
Instructors
  • Avatar of Teemu Malmi
    Teemu Malmi

    Dr. Teemu Malmi is a Professor of Accounting and Head of the Department of Accounting at Aalto University School of Business. Also, he has previously been the Chairman of the Board at Aalto University Executive Education Ltd. and Sannäs Manor Ltd.

    Professor Malmi specializes in management systems, strategy implementation, and cost and profitability accounting. He teaches frequently in a variety of Executive Programs and has served as an advisor to a large number of companies from various different industries: IT, electronics, energy, finance, food, health care, media, metal and engineering, paper and pulp, pharmaceuticals, rental services, retail, telecom and transportation/logistics and the public sector.

    Teemu Malmi holds a Ph.D. in Accounting and Finance from The Helsinki School of Economics, which was merged into Aalto University in 2010.

  • Avatar of David Derichs
    David Derichs

    Dr. Derichs is Senior University Lecturer at Aalto University School of Business, Department of Accounting. He is currently engaged in one early-stage startups as senior advisor and draws on more than eight years of international strategy consulting experience at RB (formerly Roland Berger Strategy Consultants).

    In his current position as Senior University Lecturer, Dr. Derichs’ research focuses on Performance Measurement and Management, Digitalization of the Finance Function, Cost Accounting, Financial Planning, Lifewide Learning, and Healthcare Productivity related topics. He teaches Financial Management, Performance Management, Cost Accounting, Financial Planning, Information Systems, and Financial Accounting related topics at all levels of the university education cycle (BSc, MSc, MBA, PhD, Lifewide Learning). Recently, he established an international reputation for educational innovation (esp. VR cases) and received three prices for educational development – most notably the Entrepreneurship Facilitator of the year awarded by Kauppalehti and Liikemies Foundation.

    As a management/strategy consultant at RB, Dr. Derichs worked on investor support, restructuring, and strategic reorientation related engagements across Europe and Asia in a large variety of contexts, including Engineered Products, Healthcare, Platform Businesses, Consumer Goods, Media, and Banking.

    David Derichs holds a Ph.D. in Economics from Aalto University and an MSc in Accounting and Finance from the London School of Economics (LSE).

Learning Outcomes

After completing this course, you will be able to:

  • Explain the evolution and significance of OKRs in modern performance management and compare them to traditional tools like the Balanced Scorecard.
  • Create and categorize clear, specific, and measurable OKRs, distinguishing between committed, aspirational, and learning objectives.
  • Implement OKRs within an organization, establishing effective tracking systems and ensuring regular updates and alignment with strategic goals.
  • Apply concepts of explicit and directional alignment to ensure cohesive contribution of OKRs at all organizational levels.
  • Integrate continuous conversations, structured feedback, and meaningful recognition within the OKR framework to enhance performance management and employee engagement.
Target Audience

Early Career Professionals:

The course is ideal for early career professionals who are beginning to take on roles that involve setting and tracking performance goals. You might be a junior manager, team leader or a coordinator who needs to understand how to align their team's efforts with organizational objectives. By learning about OKRs and performance management,you can enhance your ability to drive team performance and contribute to the strategic goals of their organizations.

Advanced Professionals:

Advanced professionals, including mid-to-senior level managers and executives, will benefit from this course by deepening their understanding of OKRs and advanced performance management techniques. You are likely responsible for implementing performance management systems, aligning departmental goals with organizational strategy, and fostering a culture of continuous improvement. The course offers insights into integrating Conversations, Feedback, and Recognition (CFR) with OKRs to enhance employee engagement and organizational performance.