Understanding Business Objectives and Strategies
Explore the various aspects of business objectives, including organic, economic, social, human, and national objectives. Learn about the goals and purposes that organizations strive to achieve, such as survival, growth, profit, social welfare, and national integration. Gain insights into creating a well-rounded business strategy that encompasses different objectives to drive success and sustainability.
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Presentation Transcript
INTRODUCTION TO BUSINESS DR SUMITA SHANKAR DR SUMITA SHANKAR
BUSINESS OBJECTIVES Definition : Objectives are goals, aims, or purpose that organization wish to achieve over varying period of time
CLASSIFICATION OF BUSINESS OBJECTIVES Business Objectives Organic Economic Social Human National
ORGANIC THREEFOLD OBJECTIVE 1. Survival 2. Growth 3. Prestige
ECONOMIC OBJECTIVE Profit Wealth Creation Creation of Customer Innovation Utilization of Resources Increase in Market Share Expansion in Markets New Product Introduction
SOCIAL OBJECTIVES Employees Competitors Customers Towards Media Shareholders Dealers Government Suppliers
HUMAN OBJECTIVE Worker s participation in management Better working conditions Fair wages HRD Job satisfaction Welfare facility
NATIONAL OBJECTIVE oSocial justice oDevelopment of small scale industry oProduction as per national priority oSelf sufficiency oDevelopment of backward area oSocial welfare oCreation of employment opportunity oNational integration and communal harmony
