What do you understand by business organisation and what are its objectives.?

Question

Answer

A business organization is the legal set-up of your business. Each state and region has different laws for registering your business organization, so check what's required to set up your business. To decide which type of business organization suits your business, you will choose who is liable and for how much, what assets belong to the company and how they are divided. Your business organization will define whether the business is a for-profit or a non-profit. If it's for-profit, your business organization dictates how those profits will be divided. The organization will also extend to the hierarchical structure within the company, for day-to-day operations, and in regard to legal responsibility.
Part of the purpose in designating a class of business organization is to contain risk. All businesses inherently come with risk, but risk can be controlled within the parameters of its organizational structure. Consequently, each type of business organization offers pros and cons, depending on the industry or business set-up.

A. Economic Objectives
B. Social Objectives
C. Human Objectives
D. National Objectives
E. Global Objectives

Answer

Business refer to that activity whose motive is to earn money with help of purchase and sale
OBJECTIVE : 1Economic objective
2 Social objective

Answer

Business Organization: Definition and Overview

A business organization refers to a group of individuals or entities that collaborate to achieve common goals and objectives. It involves the coordination of various resources, such as human capital, financial capital, technology, and raw materials, to produce goods or services to satisfy customers' needs and wants. Business organizations can take different forms, including sole proprietorships, partnerships, corporations, cooperatives, and non-profit organizations.

Objectives of a Business Organization

The primary objectives of a business organization can be categorized into two broad categories: economic objectives and social objectives.

Economic Objectives:
1. Profit Maximization: Generating profits is a fundamental objective for most business organizations. Profit acts as a key measure of success and enables the organization to grow and expand its operations.
2. Market Share Expansion: Acquiring a larger market share allows a business organization to increase its customer base and revenue. This objective often involves strategic marketing and competitive pricing strategies.
3. Cost Minimization: Reducing costs and optimizing efficiency is essential for business organizations to enhance their profitability. Effective cost management can be achieved through various means, such as economies of scale, process improvements, and technological advancements.
4. Quality Enhancement: Ensuring high-quality goods or services helps a business organization maintain a competitive edge in the market. By meeting or exceeding customer expectations, organizations can enhance customer satisfaction and loyalty.

Social Objectives:
1. Customer Satisfaction: Focusing on customer needs and preferences is crucial for business organizations. Satisfied customers are more likely to become loyal and repeat customers, contributing to the long-term success of the organization.
2. Employee Welfare: Business organizations should prioritize the well-being and development of their employees. Providing a safe and conducive work environment, offering fair compensation, and promoting career growth can enhance employee morale and productivity.
3. Environmental Sustainability: In today's environmentally conscious world, business organizations are increasingly expected to adopt sustainable practices. Minimizing the negative impact on the environment through eco-friendly operations and responsible resource management is a significant social objective.
4. Corporate Social Responsibility (CSR): Many organizations commit to contributing to society beyond their economic role. This may involve philanthropic activities, supporting community development projects, or engaging in ethical business practices.

Conclusion

Business organizations are complex entities that aim to achieve both economic and social objectives. While economic objectives focus on profitability and market success, social objectives emphasize customer satisfaction, employee welfare, environmental sustainability, and corporate social responsibility. Striking a balance between these objectives is crucial for the long-term sustainability and positive impact of a business organization.

Answer

Business organisation : a organisation form to earn profit as well as growth for long Survival.
objectives: 1.PROFIT maximisation
2.LONG TERM SURVIVAL
3.GROWTH.

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