Economic Objectives Of Business Class 11

The right choice of objectives is critical for the success of the business.

Economic objectives of business class 11. Economic objectives a earning profit. Business is considered to be an economic activity because it is undertaken with the object of earning money or livelihood and not because of love affection sympathy or any other sentimental reason. Business refers to those economic activities involving the purchase production and or sale of goods and services with a motive of earning profit by satisfying human needs in society.

It is established to offer satisfaction to its customers owners creditors suppliers employees managers shareholders. These two major activities constitute economic objectives of a business these are divided into the following points. Every business organization is established with a motive to sell or make goods and services to earn a substantial profit.

Economic objectives of business refer to the objective of earning profit and also other objectives that are necessary to be pursued to achieve the profit objective which include creation of customers regular innovations and best possible use of available resources. Class 11 business studies ch nature and purpose of business objectives of business. To run the business successfully it is.

Business risk business risk refers to the probability of losses or inadequate profits due to uncertainties or unexpected events which are beyond control. Class xi business studies chapter 1 nature and purpose of business other chapters. True maximization is the common prevailing norm among the whole business community.

Objectives of management 1. Concept and characteristics of business economic and non economic activities comparison between business profession and employment classification of business activates objectives of business business risks 2. Nature and purpose of business ncrt class 11 1.

The term business derived from the word busy business refers to an occupation in. Hence it is easy for the organization to face the uncertainties in a business cycle. Economic human organic and social objectives a business is an organisation of human material and other intangible resources.