1.

What are the objectives of management ? Explain two types of management objectives.

Answer»

Management is an activity and every activity has some objectives to attain. Management also has some objectives which are known as Management Objectives.

Management objectives are categorised into four parts :

(i) Primary Objectives : The main objective of management is to satisfy the expectation off stakeholders, so that the organisation can achieve the goals for which it was established. 

1. To pay fair remuneration to all resources employed. 

2. To earn adequate profits in the organisation.

(ii) Social Objectives :

An organisation obtains the different resources (input) from the society and transforms them into goods and services (output) to be sold in the market to satisfy human needs and to earn profit. An organistion has an obligation to provide maximum social welfare. 

In social objectives, these are included : 

1. Protect the interest of different sections of society. 

2. To uphold ethical behaviour and ethical practices. 

3. To cite examples of good business practices, etc.



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