The social objectives of business are gaining more and more recognition with each passing year. These objectives of business can be put in two categories
(i) Micro level -immediate environmental objectives
(ii) Macro level - national objectives
Under this category the business is expected help in the spread of literacy, education, training, medical care and public health, control of air and water pollution, development of backward classes and regions, and helping cultural, religious and charitable institutions engaged in the work of improving the lot of human beings. The main social objectives of business are as follows: -
(1) Supply of standard quality ...view middle of the document...
(6) Human Objectives:
The business ‘activity is carried on by the people (entrepreneurs) through the people (employees) and for the people (customers). Human factor is thus an important element in business. A business which overlooks the human factor cannot prosper and ultimately suffers losses. Focus on human objectives is mainly on two constituents, namely, (a) employees and (b) customers, both of whom must have a feeling of having been treated as human beings by the business enterprise.
(a) The employees working in a business should be fairly rewarded
(b) A healthy climate is created by providing opportunities to the employers for development of new skills and abilities
(c) The employees should have say in the affairs which directly affect them.
(d) Thinking of modern business must go well beyond material benefits of its employees. It must reduce unpleasantness of work and plan for job satisfaction to the workers.
Customers also look at the business enterprises as an institution which takes care of their needs as human beings. Hence the importance of courtesy, accommodation, understanding and fairness in dealings with the customers is quite obvious. This also points out the need for realization on the part of business enterprises that they do not fall prey to the temptation of profiteering through adulteration, hoarding, cornering of stocks, etc.
7. National Objectives:
(a) National self-reliance:
Every business whether operating on small or large scale must have an obligation towards nation also. It should help in achieving national goals such as promoting social justice, increasing valued added goods for exports, finding out better and cheaper substitutes for imports and helping in increasing exports for building the foreign exchange reserves to meet the import bills there for it is the duty of business to help the government in increasing experts and in reducing dependence on imports. This will help a country to achieve economic independence. This requires development of new technology and its application in industry.
(b) Optimum utilization of resources:
Business should use the nation's resources in the best possible manner. Judicious allocation and optimum utilization of scarce resources is essential for rapid and balanced economic growth of the country. Business should produce goods in accordance with national priorities and interests. It should minimize the wastage of scarce natural resources.
(c) Development of small scale Industries:
Big business firms are expected to encourage growth of small scale industries which are necessary for generating employment. Small scale firms can be developed as ancillaries, which...