define objectives of business.
Answers
Answer:
Followings are the some important objectives of business:
1. Profitability – This is one of the most important objectives of business. We normally setup business to achieve profits for its owner or shareholders. But, does it mean that business should somehow, by hook or crook, earn the profit? Our answer is no; it should earn profit by working under rules and regulations or by following ethical practices.
2. Growth – Another important objective of business is to achieve growth. The growth should be in terms of increase in profit, revenue, capacity, number of employees and employee prosperity, etc.
3. Stability – Stability means continuity of business. An enterprise or business should
achieve stability in terms of customer satisfaction, creditworthiness, employee satisfaction etc. A stable organization can easily handle changing dynamics of markets.
4. Efficiency – An efficient or aggressive working environment. A business should always try to achieve the best in its field. Efficiency is considered in terms of labor productivity, energy consumption, quality control etc.
5. Survival – A business should have the capability to survive markets jolts or shocks. A business should be there with a vision of long-term existence.
Explanation:
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Answer:
A business objective is a result that a company aims to achieve. It also includes the strategies that people will use to get there. A business objective usually includes a time frame and lists the resources available.
Objectives of Business – Profitability, Growth, Stability, Efficiency and Survival. Business means busy in some activities. Business means conducting activities such as – sale, purchase and manufacturing etc for profit and growth. Business is also referred to a particular company, enterprise or corporation.