Question

5.
Explain any five objectives of
busines​

Answer 1

Answer:

1) Market standing : Market standing refers to the position of an enterprise in relation to its competitors. A business enterprise must aim at stronger market standing in terms of offering competitive products to its customers and serving them to their satisfaction.

2) Innovation : Innovation is the introduction of new ideas or methods in the way something is done or made. There are two kinds of innovation in every business, i.e.,

(i) innovation in product or service.

(ii) innovation in the various skills and activities needed to supply them.

3) Productivity : Productivity is calculated by comparing the value of outputs with the value of inputs. It is used as a measure of efficiency.

Physical and financial resources : Any business requires physical resources like plants, machines, offices, etc., and financial resources i.e. fun to be able to produce and supply goods and services to its

customers.

4) Earning profits : One of the main objectives of business is to earn profits on the capital employed.

5)Profitability refers to profit in relation to capital investment. Every business must earn a reasonable profit which is crucial for its survival and growth