Objectives Of Business Essay - 1466 Words

What are the objectives of business? Every business enterprise has certain objectives which regulate and generate its activities. Objectives are needed in every area where performance and results directly affect survival and prosperity of a business. Various objectives of business may be classified into four broad catego ­ries as follows: 1. Economic Objectives: Business is basically an economic activity. Therefore, its primary objectives are economic in nature. The main economic objectives of business are as follows: (i) Earning profits: A business enterprise is established for earning some income. It is the hope of earning profits that inspires people to start business. Profit is essential for the survival of every business unit. Just as†¦show more content†¦In addition to wages and salary a reasonable part of profits should be distrib ­uted among employees in recognition of their contributions. Such sharing of profits will help to increase the motivation and efficiency of employees. It is the obligation of business to provide healthy and safe work environment for employees. Good working conditions are beneficial to the organisation because these help to improve the produc ­tivity of employees and thereby the profits of business. Employees work day and night to ensure smooth functioning of business. It is, therefore, the duty of employers to pro ­vide hygienic working and living conditions for workers. (iii) Employment Generation: Business should provide opportunities for gainful employ ­ment to members of the society. In a country like India unemployment has become a serious problem and the Government is unable to offer jobs to all. Therefore, provision of adequate and full employment opportunities is a significant service to society. If unem ­ployment problem increases, the socioeconomic environment cannot be congenial for the growth of business activities. (iv) Fair return to investor: Business is expected to pay fair return to shareholders and creditors in the form of dividend and interest. Investors also expect safety and apprecia ­tions of their investment. They should be kept informed about the financial health and future prospects ofShow MoreRelatedBusiness Objectives Of Starting A Business810 Words   |  4 Pagesstarting a business, the following items must be addressed: 1. Mission Statement Develop a simple statement that will express the business’s vision and convey the company big picture. This allows the mission statement will put the vision into words and set the tone for the company objectives. The mission statement becomes the blueprint for the core values of the business and helps to establish a code of conduct. 2. Setting Business Objectives It is important that business objectives be clearRead MoreObjectives Of An Appraisal Of Established Business Objectives2463 Words   |  10 PagesTask 1. 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