Question

State two main objectives of management.

Answer 1

The two main objectives of management are:

(i) Economic objective:Getting maximum results with minimum efforts. It means most optimum use of resources to maximise production and profitability.

(ii) Social objective: Maximum prosperity for employer, employee and society. It means along with maximisation of profit businessman must give maximum benefits to his employees to keep them satisfied and take steps to uplift the standard of living in the society.