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Question
XYZ Power Ltd. set up a factory for manufacturing solar lanterns in a remote village as there was no reliable supply of electricity in rural areas. The revenue earned by the company was sufficient to cover the costs and the risks. The demand for lanterns was increasing day by day, so the company decided to increased production to generate higher sales. For this, they decided to employ people from the nearby villages as very few job opportunities were available in that area. The company also decided to open schools and crèches for the children of its employees.
- Identify and explain the objectives of management discussed above
- State any two values which the company wanted to communicate to the society.
Solution
1) Social objectives of management have been discussed here. Social objective means a creation of benefits for society or doing something for society. It implies that along with maximisation of profit, businessmen must provide maximum benefits to employees to make them feel satisfied and take steps to improve their standard of living in society.
So, the social objective is mentioned as ‘For this, they decided to employ people from the nearby villages as very few job opportunities were available in that area. The company also decided to open schools and crèches for the children of its employees.’ Social objectives of management which are mentioned in the given situation:
- Solar lanterns, the production of environment-friendly products
- To facilitate electricity in rural areas
- Creating employment opportunities
- Setting up of school and crèches for children in rural areas
2) Two values which the company wanted to communicate to society are (a) Rural development and (b) Providing employment opportunities.
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