Question

Objectives are needed in every area where performance and results affect the survival and prosperity of business. Explain any three objectives of business.

Answer 1

The major objectives of a business include the following:

1. Profit

2. Growth

3. Stability

4. Efficiency

5. Survival

Step-by-step explanation:

1. Profit: this is practically the number one objective of any business, to maximize profit as much as it can. In order words, not just to get back the investment capital, but to earn profit as well.

2. Growth: this involves growing bigger or having an expansion in the number of sales and markets generally. As a customer of a business increases, this is often lead to business growth and more money

3. Stability: to have the stability of operation, without occasional or unnecessary break down in mode of operation or production. This will help to keep the business moving.