Nature and Significance of Management

Question

Explain in brief the objectives of management.

Answer

Objectives of management can be broadly divided into the following three categories:

(a) Organisational Objectives: It refers to ascertain objectives for the whole organisationwhich are survival, profit and growth:
(i) Survival
(ii) Profit
(iii) Growth

(b) Social Objectives: It refers to assure health, safety and price control to the society.Main social objectives of management are included in the following list:

(i) To save environment from getting polluted.

(ii) To contribute in improving living standard.

(iii) To make available good quality products at a reasonable price.

(c) Personal Objectives: It refers to ascertainment of the objectives in reference to theemployees.

While ascertaining personal objectives, care must be taken that in no way there is a clash

between organisational and personal objectives.

Main objectives of management towards employees are as follows:

(i) To give deserving remuneration.

(ii) To provide good working environment.

(iii) To provide a share in profit.

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