Question

Identify and explain two reasons why business managers might set profit as a business objective

Answer 1

Answer:

Answer:Reasons for setting profit as a business objectives are -

1) for survival.

earning profit is one of the main objective of every business organisation to survive in the market it is important for every organisation to at least earn profit to maintain their cost of production otherwise the organisation cannot survive in the market.

2) for expansion and growth.

as we know that the business environment is dynamic in nature. so earning profits to maintain the cost of production only is not sufficient to run a business the business should also grow and expand and diversify its products according to the changing environment to survive in the market

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