Ankita has started a new business of providing organic vegetables and fruits, although she is not having many competitors, but still she is trying to offer goods at minimum price so that she is able to survive in the market and make sure people with limited income can also afford her vegetables and fruits.
State the two objectives she is trying to achieve:
a. Organisational and personal
b. Organisational and social
c. Social and personal
d. All of the above
Answers
Answer:
Ankita has started a new business of providing organic vegetables and fruits, although she is not having many competitors, but still she is trying to offer goods at minimum price so that she is able to survive in the market and make sure people with limited income can also afford her vegetables and fruits.
State the two objectives she is trying to achieve:
a. Organisational and personal
b. Organisational and social
c. Social and personal
d. All of the above
Explanation:
Ankita has started a new business of providing organic vegetables and fruits, although she is not having many competitors, but still she is trying to offer goods at minimum price so that she is able to survive in the market and make sure people with limited income can also afford her vegetables and fruits.
State the two objectives she is trying to achieve:
a. Organisational and personal
b. Organisational and social
c. Social and personal
d. All of the above 2 An automobile manufacturer substitutes a different engine in cars that were known to have an average
miles-per-gallon rating of 61.5 on the highway. The manufacturer wants to test whether the new engine
changes the miles-per-gallon rating of the automobile model. A random sample of 200 trial runs gives mean
= 59.1 miles per gallon and SD = 9.6 miles per gallon. Using the 0.05 level of significance, is the average
miles-per-gallon rating on the highway for cars Using the new engine different from the rating for cars
using the old engine?
Answer:
Concept:
goals are the objectives, aims or purposes which are to be achieved by an organisation over varying periods of time.
Given:
Ankita has started a new business of providing organic vegetables and fruits, although she is not having many competitors, but still she is trying to offer goods at minimum price so that she is able to survive in the market and make sure people with limited income can also afford her vegetables and fruits.
State the two objectives she is trying to achieve:
a. Organisational and personal
b. Organisational and social
c. Social and personal
d. All of the above
Find:
We find that the she is trying to achieve
Explanation:
Organisational and social goals are two objectives she is trying to achieve.
Organisational Objectives: Management is accountable for establishing and attaining objectives for the company. It has to deliver a variety of objectives in all operations contemplating the interest of all shareholders including, stakeholders, consumers, the government and employees. The principal objective of any company must be to use material and human resources to the maximum potential benefit, i.e., to meet the financial objectives of a firm. And, they are survival, profit and growth.
• Survival: The essential objectives of any industry is survival. Management must attempt to assure the continuation of the business. In order to survive, an industry must gain enough funds to meet the costs that would be incurred.
• Profit: Poor survival is not sufficient for the industry. Management has to make sure that the company earns the profit. Profit contributes to a necessary catalyst for the sustained successful performance of the firm. Profit is crucial for meeting the costs and uncertainties of the business concern.
• Growth: A firm requires to add to its chances, in the long run, for this it is necessary for the concern to develop. To prevail in the business, management must utilise adequately the growth potential of the firm.
Social objectives: It includes the establishment of benefit for the community. As a part of the community, every business whether it is a trade or non-trading concern has a social responsibility to meet. This applies to consistently generating financial value for many components of society. This includes using environmentally beneficial technologies of production, providing job opportunities to the disadvantaged sections of the community and furnishing the primary facilities like crèches and schools to employees.
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