the main objective of society and businesses
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Social objectives of business include production and supply of quality goods and services, adoption of fair trade practices and contribution to the general welfare of society and provision of welfare amenities.
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The basic function of a business is to earn profits. However, it is said that it should not be the only objective of a business firm.
- A business firm is a part of society and should do something for society as well.
- A business firm should produce quality goods and the right prices. They should do certain fair practices and intern help the society and aim for the general welfare of the people.
- They should not exploit the consumer and help in improving human well-being.
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