Question

Why do business follow multiple objectives?

Answer 1

Since a business has balance a number of needs and goals, it requires multiple objectives. In fact, objectives are needed in every area that influences the survival and prosperity of business. It cannot follow only one objective and expect to achieve excellence. Objectives have to be specific in every area and sphere of business, for example, a business has to set targets for sales to determine objectives for efficient production, for financial planning and so on. Objectives are needed in every area where performance and results affect the survival and prosperity of business. So a business has to set multiple objectives - social economic, financial, management and so on.