What are the goals and key results?

Goals and Initiatives is a target-setting framework used by individuals, teams, and organizations to define measurable goals and track their outcomes.

What is a Goal?

Goals can be set up for the complete product team or just for a small team which brings in the flexibility to keep everyone aligned on what as a unit they want to achieve.

Defining goals can come either from the overall company strategy or from product leaders. But the sole reason to define goals is to make sure team members are not misled and are working towards some achievable outcomes rather than abstract product creation.

A goal can exist independently.

What are initiatives?

Initiatives are building blocks on the completion of which the goals can be achieved. They are the basic unit of a goal. Initiatives can be further linked with multiple features which lead to the completion of the initiative. An initiative can't exist independently. It always has to be defined under a goal.

To know more about goals and initiatives refer to this article.