APRIL 2022 - MONTHLY REPORT

OBJECTIVES OF BUSINESS

INTRODUCTION

Business objectives are something which a business organization wants to achieve or accomplish the vision or mission.it is may be earn profit or growth & development of our company. its lead to achieve the planned profit for our company. each and every company has their unique objective. threw that they going to forecast our company plan as well as they try attain the peak level.

TYPES OF BUSINESS OBJECTIVES

1. Economic objectives
2. Social objectives
3. Human objectives
4. National objectives
5. Global objectives

Economic Objectives

 In the term of economic, main objective is earn profit. threw that increase the level of production and income for our company. while increasing the production we can able to compensate the consumer demands. so customers are satisfied in 80% was not possible to switchover another product. from this economic objective,

• Profit earning
• Creation of customers
• Regular innovations
• Best possible uses of resource

Social objective

Social objectives are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare. No activity of the business should be aimed at giving any kind of trouble to the society. If business activities lead to socially harmful effects, there is bound to be public reaction against the business sooner or later.

• Production and supply of quality goods and services
• Adoption of fair trade practices
• Contribution to the general welfare of the society

Human objectives

Human objectives refer to the objectives aimed at the well-being as well as fulfillment of expectations of employees as also of people who are disabled, handicapped and deprived of proper education and training. The human objectives of business may thus include economic well-being of the employees, social and psychological satisfaction of employees and development of human resources.

• Economic wellbeing of the employees
• Social and psychological satisfaction of employees
• Development of human resources
• Wellbeing of socially and economically backward people

National objectives

Being an important part of the country, every business must have the objective of fulfilling national goals and aspirations. The goal of the country may be to provide employment opportunity to its citizen, earn revenue for its exchequer, become self-sufficient in production of goods and services, promote social justice, etc. Business activities should be conducted keeping these goals of the country in mind, which may be called national objectives of business. The following are the national objectives of business.

• Creation of employment
• Promotion of social justice
• Production according to national priority
• Contribute to the revenue of the country
• Self-sufficiency and export promotion

Global objectives

Earlier India had a very restricted business relationship with other nations. There was a very rigid policy for import and export of goods and services. But, now-a-days due to liberal economic and export–import policy, restrictions on foreign investments have been largely abolished and duties on imported goods have been substantially reduced. This change has brought about increased competition in the market. Today because of globalization the entire world has become a big market.

• Raise general standard of living
• Reduce disparities among nations
• Make available globally competitive goods and services