Why does business need multiple objective explain any five such objectives?
Answers
Answer:
Explanation:
Business has to keep balance of certain goals and needs as such it requires multiple objectives. Business relies heavily on people’s satisfaction who have a certain objectives of being associated with it. Their objectives are bound to be different and at times conflicting too. For example every businessmen want profits, investors look for good return, employees seek for both good remuneration and working conditions and consumers look for quality product.
Some of the multiple objectives are as follows:
Innovation: Innovation always bring and attract new customers and buyers. This also helps in retaining the old ones too. It helps in developing new products and bring about its multiple uses.
Market share: A business can only survive for long if it can grab a larger share in the market and maintain it.
Improve productivity and Earning profit: Every business organisation seek higher productivity by optimize use of the resources available with it. This helps in attaining the ultimate aim of business of earning profit on the capital invested. It is of paramount importance that every business should earn a decent profit to grow and survive.
Workers performance and welfare: The most important objective of every business organisation is to find out ways for improving the performance of its workers and undertake certain welfare scheme which help in creating positive attitudes in them. This helps in boosting the spirits of the employees.
Optimum use of physical and financial resources: Business organisation thrive on both physical as well as fininacial resources. Physical resources include plant, machine, office etc while financial resources include money or funds in order to produce goods and services, therefore every enterprise should try to use them efficiently. Since business is considered as a part of society it must try to meet the expectations of the society. It should aim in protecting the environment in the area of its operation, provide people with their desired products while maintaining the quality, and even generate employment etc.
Hope this helps.
Explanation:
may it will help you if not , then caught the person who had created this question .Then,firstly beat him/her too hard and also don't forget to beat him/her from my end(mere taraf se)
