Economic Objectives
The primary focus of economic objectives is on three important constituents of the business system,
namely:
(a) The owners
(b) The employees and
(c) The customers.
The primary focus of economic objectives is on three important constituents of the business system,
namely:
(a) The owners
(b) The employees and
(c) The customers.
1) The owner(s) must get adequate return, on the capital invested and the risk
undertaken by him or them in the form of profit or dividend.
2) The employees must be adequately compensated through fair wages or salaries, allowances, bonus, and other welfare
facilities in the form housing, medical and healthcare, education of children, recreational facilities, retirement benefits, etc.
So that they devote heart and soul in organisation’s work
and work in the spirit of doing it not as hired employees but as if they are doing their own work.
3) Customers are the patrons of the business enterprise and their satisfaction must be uppermost in the mind of the businessmen.
Customers feel satisfied if they are supplied with quality products at reasonable prices coupled with adequacy of regular supply, after sale service, courtesy, etc.
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