Question

what is the difference between social objectives and economic objectives in business​

Answer 1

Explanation:

Economic objective of business refers to the main objective of earning profit by the business. On the other hand, social objective of business refers to the main objective of working towards the society at large.....

Answer 2

Social objectives and economic objectives in business are two different types of objectives that a business may aim to achieve.

• Economic objectives refer to the goals that a business sets with the aim of achieving financial success. Examples of economic objectives include maximizing profits, increasing revenue, reducing costs, and improving return on investment. These objectives are essential for the survival and growth of a business.

• Social objectives, on the other hand, refer to the goals that a business sets with the aim of making a positive impact on society. Examples of social objectives include promoting environmental sustainability, improving working conditions, contributing to local communities, and promoting diversity and equality. These objectives reflect a business's commitment to responsible corporate citizenship and can enhance the reputation of a business.

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