Question

"Profit maximisation can't be the sole objective of a business ".comment.

Answer 1

Answer:

because an organization survive with going on concern concept. profit maximization is somewhere a short term objective in front of wealth maximization.

with profit maximization, an organization should focus on wealth maximization.

in today's era, customer satisfaction is also a main objective of an organization.

Answer 2

ANSWER:-

It is generally believed that profit earning is the primary objective of business. However, as per modern thinking, business needs to have several objectives. Consistent and sustainable profit can be earned only if the business performs useful services to society. Business requires multiple objective since it has to balance a number of needs and goals related to various aspects of society.

Only one objective cannot lead business towards excellence. Objectives are needed in every area where performance and result affect the survival and prosperity of business. Five Objectives of business are - Profit Maximization, Market Standing, Innovation, Productivity and Social Responsibility. All the activities of the business should be such that they will not harm, rather they will protect and contribute to the interest of the society.

THANKS

FROM- PRABHSHARAN