OKRs are a critical-thinking framework that optimize the bridge between strategy to execution, by helping teams cherry pick the metrics which are most important to move the needle on business. OKRs stand for Objectives and Key Results.

O - Objectives: This is the 'Big What and Why' - where the key question is: What do I need to achieve and why do I need to achieve it?
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KR - Key Result: These are the metrics you choose to measure progress towards, where the question is: How do I measure success?
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Tasks/Initiatives - Although not a part of the phrase 'OKR', these are equally important. These are the actions towards achieving your goal, the question being: What do I need to do to get there?