Short Topic : Business and Objectives of Business

Business

Etymologically the term business refers to the state of being busy for an individual, group,
organization or society. The term is also interpreted as one’s regular occupation or profession.

Peter F Drucker has drawn  important conclusions about what is a business that are useful for an understanding of the term business.

♦ The first thing about a business is that it is created and managed by people. There will add be a group of people who will take decisions that will determine whether an organization is going to prosper or decline, whether it will survive or will eventually perish. This is true of every business

Objectives of a Business

•Survival: Survival is the will and anxiety to perpetuate into the feature as long as
possible.

•Stability: It is a cautious, conservative objective.

•Growth: This is a promising and popular objective which is equated with dynamism, vigour, promise and success.

•Efficiency: Business enterprise seek efficiency in rationally choosing appropriate
means to achieve their goals.

•Profitability: It is generally asserted that private enterprises are primarily motivated by the objective of profit.

By Admin Team