Question

- "It refers to the position of an enterprise in relation to its competitors. A business enterprise
should always aim to have a stronger footing in terms of offering competitive products to its
customers and serving them to their satisfaction."
(a) Identify the objective of business being mentioned in the above lines.
(b) Also explain two more objective of business apart from the one identified in part (a)

Answer 1

Answer:

(a). Quality of goods at fair price : The first social objective of business is to provide good quality of goods at fair price and in proper quantity on continuous basis to customers .

(b). The two other objectives of business are:

{1}. Employee welfare: Employees are a valuable asset amd they make significant contributions towards the success of business.

{2}.Community service: Business should contribute something to society where it is established and operated.

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