Management is the process of getting things done through others effectively and efficiently. Study Material for XII Com

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XII Commerce
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MANAGEMENT
Subtitle
Session 2 : Objectives of Management

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Objectives of Management
What is an objective ?
•Objectives are the End results towards which activities of an organization are directed.
• Also these are Standards against which performance is assessed.
Organisations have multiple objectives. Such as
1. Organisational Objectives
2. Social Objectives
3. Personal Objectives:

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Objectives of Management
1. Organisational Objectives
These are the basic objectives or economic objectives of a business or the responsibility of the
management towards the organisation.
(a). Survival
The basic objectives of any business is survival.
In order to survive, an organisation must earn enough revenues to cover costs.
(b) Profit
Management has to ensure that the organisation makes a profit.
Profit is essential for covering costs and risks of the business.
(c) Growth
A business needs to add to its prospects in the long run, for this it is important for the business
to grow.

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Objectives of Management
2. Social objectives
It involves the creation of benefit for society or the responsibility of the management
towards the society.
 Creating employment opportunities for society.
 Providing/Producing good quality products & services.
 Protecting environment.
 Environmental friendly methods of production.
 Providing basic amenities like schools and crèches to employees.
 Avoidance of unfair trade practices.
3. Personal objectives:
Personal objectives are concerned with satisfying needs of the employees or the
responsibility of the management towards the employees
 Fair remuneration.
 Good working conditions.
 Opportunities for training and development and personal growth.
 Participation in management.
 Recognition and satisfaction.

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