Objectives and key results is a framework for defining and tracking objectives and their outcomes towards reaching your mission (what we call NORTH STAR here).
You start by defining one objective for the next 12 weeks. Objectives should be ambitious, qualitative, time bound and actionable by the person or team. Objectives are inspiral and pretentious , but still realistic.
Your objective is formulated in such a way that it makes you smile and dance every day, because it is motivating and worthwhile for YOU to achieve it.
Define 3-5 measurable Key Results.
Key results should be quantifiable, achievable, lead to objective grading and be difficult, but not impossible. Each key result contains a number and a measurable outcome.