Objective of Business

Business is an economic activity that involves the production and distribution of goods and services. The primary objective of any business is to create value and maximize profits. However, there are other objectives that businesses pursue to achieve their goals.

Economic Objectives of Business

The economic objectives of business include:

1. Employment generation- One of the primary objectives of business is to provide employment opportunities to the people. By creating job opportunities, businesses play a significant role in reducing unemployment and poverty.

2. Survival- The survival of the business is a fundamental objective. A business should be able to survive in the long run to achieve other objectives.

3. Profit- Profit is the main motive of any business. It is the difference between the total revenue and the total cost of production. Businesses strive to maximize profits to grow and expand.

4. Growth- Growth is another objective of business. It refers to the expansion of the business in terms of size, market share, and product range. Growth helps businesses to achieve economies of scale and gain a competitive advantage.

Not an Economic Objective of Business

Out of the given options, the answer is (d) growth. Growth is an economic objective of business. However, it is not the only objective. A business can also have social, environmental, and ethical objectives.

Conclusion

In conclusion, businesses have multiple objectives to achieve. While profit is the primary motive, businesses also focus on employment generation, survival, and growth to create value and contribute to the economic development of the country.

Employment generation is not an economic objective of a business.
Employment generation comes under the social social objective.