Objectives of Business: 

All the activities done by humans are done with some objective or aim behind it. Business is also a human activity, having a predetermined objective. Without an objective, planning and execution of plans become very difficult. Predetermined objectives provide direction to the businessman and the businessman endeavours to achieve them. It will not be rational to say that the sole objective of a business is earning profits, rather it is also social service.

A businessman determines the optimum mix of human objectives along with the economic objective of earning profits, keeping in mind all the situations. The objective of .business is not only to satisfy the economic interest in profit maximization but also to protect the interest of workers, consumers and other sections of society because all these are affected by business and the success of the business depends on the cooperation and support extended by them.

We can classify the objectives of business into the following categories: 

1. Economic objectives 

2. Social or Service objectives 

3. Human objectives

1. Economic Objectives: 

This objective is the primary objective of the business. Economic objectives are intended to maximise profits, accelerate the growth of the business, increase market territories by increasing the number of consumers. 

From an economic point of view, a businessman has the following three objectives:

• Profit Earning 
• Innovation 
• Creation of Customers.

 2. Social or Service Objective: 

Society and business are strongly interrelated. Without society, the business doesn’t find its existence. The capital required by the business is raised from the society, the goods produced are consumed by society and businessman himself lives in society and is an integral part of society. The important objective of a business is to earn profits by considering social aspiration and social beliefs. If any business goes against society’s expectations, then its survival can be threatened. The business should work for social welfare. In today’s consumer market, where the consumer is the king of the market, the social objective holds more importance. 

The important social objectives of the business are explained below:

• Best possible use of scarce resources. 
• Social Welfare and Development work. 
• Availability of desired quality goods. 
• Charging fair and reasonable price. 
• Production and supply of novel and innovative goods. 
• Compliance of government rules and legislations.
• Regular Payment of government taxes.

 3. Human Objectives: 

In the present time, no businessman can look after entire business activities himself alone. With the increasing size of enterprises, people from outside are hired to get the work done. The capital requirements of the business are also not met by its own internal sources, and one has to depend on others for all this.

In this way, at every level of business, a businessman essentially comes across other members of society. It is an important objective of business to treat those persons coming in contact with the business, fairly. Humane behaviour is that which is expected by every person from others. 

The main human objectives of the business are given below:

• Humane behaviour with workers.
• Employee welfare and improvement in working conditions. 
• Fair remuneration to employees. 
• Fair return to investors. 
• To protect the interest of the consumers.