Explain any five objectives of business.
Five objectives of business are:
1. Market Standing: It refers to the position of business enterprise in the market with regard to its competitors. The business enterprises should work hard to maintain its position in the market.
2. Innovation: If the business enterprise wants to win the confidence of customers and goodwill in the market, it has to adopt the concept of innovation. Innovation is the introduction of new ideas or methods in the way something is done or made. In business there are 2 kinds of innovations.
- Innovation in product or service.
- Innovation in the various skills and activities needed to supply them.
3. Profitability: It refers to profit in relation to capital investment. Every business must maintain minimum level of profitability in order to survive in the business.
4. Manager performance and development and worker performance and attitude: Manager Performance is an important parameter in the success of business. However, this is not possible without the efficient and positive performance of workers. Workers’ performance and attitudes determine their contributions towards productivity and profitability of any enterprise.
5. Social Responsibility: Social responsibility refers to the obligation of business firms to contribute resources for solving social problems and work in a socially desirable manner.
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1. A government company is any company in which the paid up capital held by the government is not less than
(a) 49 per cent (b) 51 per cent
(c) 50 per cent (d) 25 per cent2. Centralised control in MNC’s implies control exercised by
(a) Branches (b) Subsidiaries
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1. The structure in which there is separation of ownership and management is called
(a) Sole proprietorship (b) Partnership
(c) Company (d) All business organisations2. The karta in Joint Hindu family business has
(a) Limited liability (b) Unlimited liability
(c) No liability for debts (d) Joint liability3. In a cooperative society the principle followed is
(a) One share one vote (b) One man one vote
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(c) Shareholders (d) Employees5. Profits do not have to be shared. This statement refers to
(a) Partnership (b) Joint Hindu family business
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(a) Producer’s cooperative (b) Consumer’s cooperative
(c) Housing cooperative (d) Credit cooperative9. A partner whose association with the firm is unknown to the general public is called
(a) Active partner (b) Sleeping partner
(c) Nominal partner (d) Secret partner
- NCERT Chapter