Question

Discuss any five objectives of the business. 

Answer 1

1. Economic Objectives:
Economic objectives of business refer to the objective of earning profit and also other objectives that are necessary to be pursued to achieve the profit objective, which includes the creation of customers, regular innovations, and the best possible use of available resources.

2. Social Objectives:
Social objectives are those objectives of the business, which are desired to be achieved for the benefit of society. Since business operates in society by utilizing its scarce resources, society expects something in return for its welfare.

3. Organizational Objectives:
The organizational objectives denote those objectives an organization intends to accomplish during the course of its existence in the economy like expansion and modernization, supply of quality goods to consumers, customers’ satisfaction, etc.

4. Human Objectives:
Human objectives refer to the objectives aimed at the well–being as well as fulfillment of expectations of employees as also of people who are disabled, handicapped, and deprived of proper education and training.

The human objectives of business may thus include economic well–being of the employees, social and psychological satisfaction of employees, and development of human resources.

5. National Objectives:
Being an important part of the country, every business must have the objective of fulfilling national goals and aspirations.