The company sets objectives with set of easily measurable key results, e.g. We want to increase our reach. With key results like. Started 5 large ad campaigns. Max concurrent users grown bei 10%. etc (so it is easy check if results are met). These should be stretch goals.
Then every team formulates their own OKRs so they contribute to the company wide ones. This can be done down to the individual level. All transparent for everybody to see.
In theory. Every company Inworked for that had some version of OKRs or tried to introduce them did some half measure (mostly because management at its core didn't like the idea uf self-organization and wanted to introduce some form of control back) and ended up with a non-functioning beraucratic overhead. so take my view with a grain of salt