Objectives of Management
It refers to those end points for the attainment of which all the activities of an organization are undertaken.
(1) Organizational Objectives : It refers to the utilization of human and physical resources available in the organisation, considering the in terest of all stakeholders. While fixing these objects, management keeps into consideration the benefit of all the related parties (like owner, employee, customer, government, etc.). This also fulfills organizational economic objectives which are survival , profit and growth .
( i ) Survival : Every business wants to survive for long . So , management by taking positive decisions with regard to different business activities should ensure that business survives for long .
(ii) Profit : Profit plays an important role in fac ing business hazards and successful running of business activities. So , it must be ensured by the management that adequate profit is earned by the business .
( iii ) Growth : Every business wants to grow . Management must ensure growth of business. Growth can be measured by sales , number of employees , products , capital investment , etc. If all these show an increasing trend then it can be concluded that business is heading towards growth .
(2) Social Objectives : It refers to the considera tion of the interest of the society during man agerial activities. An organization is establishedin a society. It runs through the resources made available by the society. That is why it becomes the responsibility of every organization to ac count for social benefits. Thus, social objectives are defined as the fulfillment of responsibility of an organization towards society. Under this objective the manager promises to assure health, safety and price control. Main social objectives of management are included in the following list:
(i) To make available employment opportunities,
(ii) To save environment from getting
(iii) To contribute in improving living standard.
For example: Asian Paints has provided funds under its community development program, which has made possible the effective utilization of local resources by the farmers. In the same manner , Steel Authority of India regularly provides services related to agriculture , indus try , education , health , etc. to the people living nearby its steel plants.
(3) Personal Objectives : It refers to the objec tives to be determined with respect to the em ploys of the organisation. Every organization is a group of people having different nature. These people become a part of the organization with a view to fulfill the following three needs: (i) Financial Needs: These people expect a com petitive salary and other perks from the organi sation. ( ii ) Social Needs : These people want to get recognition from their peers . ( iii ) Higher - Level Needs : These people want to get sufficient op portunities for personal development .Management has to effect balance between per sonal and organizational goals in order to establish harmony.