Question

Describe various objectives of a business unit.

Answer 1

Similarly, business objectives are something which a business organization wants to achieve or accomplish over a specified period of time. These may be to earn profit for its growth and development, to provide quality goods to its customers, to protect the environment etc. These are the objectives of business.

Answer 2

Various objectives of a business unit are:

1. Economic Objectives: As business are the economic entities, so the main and first objective of any business unit is to get the economic benefits from the society which includes:

1. Maximization of Profits
2. Increase in Market Share
3. Optimum Utilization of Resources
4. Increase in Productivity

2. Social Objectives: Every business is deriving something from the society, so it becomes their duty to return the same in the form of various social objectives. These includes:

1. Provision of Goods and Services at Reasonable Prices
2. Employment Generation
3. Good Quality Products
4. Fair Treatment to the Employees.

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