Explain the objectives of management.

(a) Organisational Objectives: It refers to ascertain objectives for the whole organisationwhich are survival, profit and growth:

(i) Survival: Every business wants to survive for long. So, management by taking positivedecisions with regard to different business activities should ensure that business survivesfor long.

(ii) Profit: Profit plays an important role in facing business hazards and successful runningof business activities. So, it must be ensured that adequate profit is earned by thebusiness.

(iii) Growth: Every business wants to grow. Management must ensure growth of business.Growth can be measured by sales, number of employees, products, capital investment,etc. If all these show increasing trend then it can be concluded that business is headingtowards 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.