Question

Explain any four objective of business

Answer 1

Objectives of business are as follows:

1. Earning Profits: Business has to earn a reasonable profit so as to sustain its growth and survive in the market.

2. Market Standing: Business Should have a better position in the market in relation to its competitors.

3. Innovation: Business should come up with new ideas, inventions and new methods for sustainable growth and survival.

4. Productivity: Productivity is ascertained by comparing the value of output with the value of input. Business must work efficiently and effectively so as to enhance its productivity.