Question -
Answer -
Business objectives can be discussed as follows:
1. Maximum Profit: The only motive of doing business is to earn profit. Growth prospects can be determined by the capacity to earn profits. The profit earned can be reinvested to earn higher growth.
2. Market Share: A business will have competition and by staying ahead of competitors a business develops a market share. Maximum market share can be captured by providing quality products at reasonable price.
3. Worker performance: A business will be performing at its best if the workers are motivated and satisfied. It requires a healthy working environment for the workers for making a great contribution.
4. Innovation: Innovation is the key to cutting down costs while improving performance, and by doing this a business can stay ahead of its competitors.
5. Social Responsibility: A business has certain responsibilities towards the society and these include removing poverty, unemployment and pollution etc. Fulfilling those responsibilities helps a business to earn goodwill.