1.

Explain two Objective of Management.

Answer»

Every organization is established to achieve certain objective. Objectives always differ from organization to organization. Management helps to achieve these organizational objectives more effectively and more efficiently.

Objectives can be classified in to 

1. Organizational objective 

2. Social Objective 

3. Personal or individual objective

Organizational objective: The main objective of the management is to fulfill the economic objective of the organization. This objective is concerned with maximum possible profit with the available resources. Survival, Profit & Growth is important keys of organizational objective of management.

Survival: The basic objective of every business is to survive for a long time in the market. Management ensures the survival of the organization by earning enough revenue to cover its costs.

Profit: Only survival is not enough for the business. Management ensures earning enough profit which is very essential for successful continuity of the Business.

Growth: For business to have a long term existence management need to strive for the overall,growth and development of the organization.

Social objective: Every organization is a part of the society whether it is business or non business unit. All organizations being a part of the society have some obligation towards the well being of the people, nature and society.

  • Using environmental friendly methods of production. 
  • Create employment opportunities for weaker section of the society. 
  • Provide amenities for the well being of the society such as schools, Hospitals, Parks. 
  • Provide financial support for the social service projects.


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