OKRs (Objectives and Key Results) are a framework to define and break down (business-)objectives and are a great way to create alignment between teams.
Objectives are statements that inspire and set direction. They answer the question "Where do I need to go?".
Example: Become the leading Instagram page in [Niche]
Key Results measure progress toward an Objective. They answer the question "How do I know I'm getting there?".
Example 1: Reach 50k followers
Example 2: Reach an average of 200 likes per post
OKRs are set for a specific time period (usually yearly or quarterly) along the company hierarchy. Subordinate OKRs should contribute to the higher order OKRs. OKRs should be accessible by anyone and facilitate alignment within the company. OKRs should be used for learning rather than for compensation or promotion. A person should be responsible for roughly 3 OKRs with around 3 key results each.
The crucial part is identifying the right OKRs and aligning them along the hierarchy.