Can You Write The Economic Objectives Of The Business?

The profit motive is the primary objectives of a business are to earn profit. One enters into business for the purpose of making money so that he may satisfy his various wants with the money. Profit is essential for the success of business. A business must earn profit to meet its costs of running, expending and developing the business. In the absence of profit motive in the business nobody will dare to take risk. Every businessman wants to earn maximum profit.

Creation of customers is the second economic objective of business. one of the purposes of business is to create customers. Customers keep the business in existence. The objective of business therefore should be satisfaction of human wants through supply of quality goods at reasonable prices. As the success of business depends upon cooperation of its employees, so there is need for providing better working conditions and higher wages for the employees.

Innovation is the third economic objective of business is innovation. Innovation helps the customers in getting better and more economic goods and services. In order to stay in the market, the business must make innovations. Innovations can be made by improving the productive process, devising new better products and finding new uses for a product.

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