BUSINESS OBJECTIVES

BUSINESS PERSPECTIVE

BUSINESS
DEFINATION
Ur wick and Hunt: "Business is any enterprise which makes, distributes or provides any article or service which other members of the community need and are able and willing to pay for.

FEATURES OF BUSINESS

Economic activity Profit making Satisfaction of wants Risk taking Dealing in goods and services Continuous activity Innovative and dynamic in nature Subsystem of the society Occupation Legal control

BUSINESS OBJECTIVE
INTRODUCTION

Every business unit is established in order to attain certain well-defined objectives. Attainment of these objectives is the only way an organization can justify its setting-up and existence. It is very important that every business unit decides and pursues a set of well-defined business objectives

BUSINESS OBJECTIVES
DEFINATION McFarland: "Objectives are the goals, aims or purposes that organization wish to achieve over varying period of time

FEATURES OF BUSINESS OBJECTIVES

Multiplicity of objectives Hierarchy of Objectives Measurable Different types Flexible

WHY BUSINESS OBJECTVES ARE NEEDED?

Flexible Understandable Realistic Quantitative Time-frame specific

IMPORTANCE OF BUSINESS OBJECTIVES

Framing rules , policies and procedures. Helps in ascertaining the resource requirement. Provides direction to the activities. A set of well defined objectives enable a firm to assign duties to the employees Universal application Justifies the very existence of a company. Help the managers in taking rational decisions Provides the basic for measuring and evaluating employee performance

ECONOMIC & SOCIAL OBJECTIVES

ECONOMIC OBJECTIVE Profit earning Creation of customers Regular innovations Best possible use of resources SOCIAL OBJECTIVES Production and supply of quality goods and Services Adoption of fair trade practices Contribution to the general welfare of the society

HUMAN & NATIONAL OBJECTIVE

HUMAN OBJECTIVE Economic well being of the employees Social and psychological satisfaction of employees Development of human resources Well being of socially and economically backward people

NATIONAL OBJECTIVE Creation of employment Promotion of social justice Production according to national priority Contribute to the revenue of the country Self-sufficiency and Export Promotion

GLOBAL OBJECTIVES
Raise general standard of living. Reduce disparities among nations Make available globally competitive goods

and services

Here are some examples of MNCs

objectives of

OBJECTIVES OF INFOSIS
To establish, maintain, conduct, provide

services of every kind including commercial , statistical, financial, legal, management, data processing To carry on the business in all types of electronic components and equipment from every aspects.
To deal in any type of articles & things which

may seem capable of being profitably

 To provide for the welfare of employees or

ex-employees of the Company.

To carry on all kinds of promotion business. To construct and develop residential or

industrial colonies for advancement of members & employees

THANK YOU