"among the multiplicity of objective that a modern firm has profit maximization continues to be the most important " comment.
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Profit Maximization
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The sole objective of a business is profit maximization. It helps in the growth and survival of the firm. Profit is considered as the lifeblood of business. No business can survive in a competitive market without making profit. Profit is an essential objective of business because of the following reasons:
- Source of Income for businessman and people associated with that business
- Source of finance for meeting expenses in business
- It helps in building goodwill
- Ensures survival and growth of a business
- It helps in buying resources for a business
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