Business objectives: business must achieve their objectives to remain in operation. Lists of business objectives include such factors as profit, survival, growth, & social responsibility.
1) Survival is an obvious objective. Other objectives can be accomplished only if the business enterprise survives. To survive, businesses take innovative idea.
2) Growth is an objective because business does n’t stand still. Market share increase, personal & individual development & increased productivity are important growth objectives. The growth of Compaq computer & Wal-Mart to multibillion –dollar enterprises is often used as an example of business success accomplished through growth.
3) Social responsibilities: it has been recognized as an important objective. Businesses, like each person in society, must accept their responsibilities in areas such as pollution control, eliminating discriminatory practices & energy conservation. Such as gp company who keeps cleaning in the airport road because of advertising their product for the foreign passengers.
4) Profits: two views
A businessperson calculates profit by subtracting all the costs, including taxes, from the revenue received for selling a product or service in the market. The difference is referred to as business profit. For example a company subtracts all expenses (for supplies, staff wages, and property, advertising & so on) from all income to determine the business profit.
