BUSINESS

DEFINATION
"Business is any enterprise which
makes, distributes or provides any
article or service which other members
of the community need and are able
andwilling to pay for.

BUSINESS OBJECTIVES
INTRODUCTION
Every business unit is established in
order to attain certain well-defined
objectives. Attainmentof these objectives
is the only way an organization can justify
its setting-up and existence.
It is very important that every business
unit decides andpursues a set of welldefined business objectives.
Objectives are the goals, aims
orpurposes that organization wish to
achieve overvarying period of time"

IMPORTANCE OF BUSINESS
OBJECTIVES

Framing rules, policies and procedures.

Helps in ascertaining the resource requirement.

Provides direction to the activities.

A set of well defined objectives enable a firm to

assign duties to the employees
Provides the basic for measuring and evaluating
employee performance

 Help the managers in taking rational

decisions.
Universal application.
Justifies the existence of a company.

Types of business objective

ECONOMIC OBJECTIVES

Profit earning
Creation of customers
Regular innovations
Best possible use of resources

SOCIAL OBJECTIVES
Production and supply of quality
goods andservice
Adoption of fair trade practices
Contribution to the general welfare of
the society

HUMAN OBJECTIVE
Economic well being of the
employees
Social and psychological satisfaction
of employees
Development of human resources
Well being of socially and
economically backward people

NATIONAL OBJECTIVE
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
Raise general standard of living
Reduce disparities among nations
Make available globally competitive
goods andservices

Thank you