Objectives of Business Environment

Business may be understood as the organized efforts taken by an enterprise to supply the consumer with goods & services. Business varies in size if measured by the number of employees or by sales volume irrespective of its small or large size all of the businesses aim in making a profit. It is an important institution in society. following are few objectives of a business.

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1) Profit

profit

making a profit is the primary goal of any business. Enterprise profit is the excess of income & expenditure. It is the main incentive, motivator, strong sustainer to run the business by allocating various needed resources.

2) Growth

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Growth is another primary objective of business. Enterprise should grow in all directions over a period of time

following are strategies adopted to achieve growth

a) Add More products in the market.

b)Diversification into a new area.

c) Integration forward or backward.

d) Increase market share.

e) Expand the market.

3) Employee Satisfaction & Development

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4) Market Leadership

market leadership

To earn market leadership is yet another objective of business. Innovation is the key to earn a good market innovation may be a product, advertising, distribution, finance etc.

5) Quality Products & Services

product

Those who maintain the quality are only survived in competition. Persistent quality, product earns brand loyalty are a vital ingredient for success.

6) Challenging

The business offers vast scope & faces huge challenges. Business who sustains in failure betrays their inability & incompetence can accept the challenges in the environment and makes the business successful are only able to sustain in the cutthroat competition

 

 

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