Objectives Of Management

Objectives are the ends towards which the activities of an organisation are directed and the standards against which the performance is assessed.

The managerial objectives of an organisation can be classified into three major categories :

1. Organisational Objectives 

2. Social Objectives

3. Personal Objectives

1.3.1    

Organisational Objectives

These objectives aim at prosperity and growth of the organisation. Generally it is assumed that profit maximization is the main objective of every organisation but it is not true. The managers try to develop and attain variety of objectives in all management areas which reduces cost and brings maximum prosperity for organisation.

The three important organisational objectives of a manager are :

1. Survival:  The basic purpose of every organisation is to survive and exist in the competition market for a long period of time and it is possible only when it is able to cover its cost and earn profits.

2. Profit: The most important objectives of every organisation is earning adequate amount of profit. Profit is essential for survival, growth and expansion of business. Profit is the reward given to businessman for bearing risk.

 3. Growth: Business organisation must grow and expand their activities. The success of any organisation is measured by the growth rate and growth is measured in terms of sales, number of branches, number of products, number of employees etc.

1.3.2 

Social Objectives

Social objectives of the organisation deal with the commitment of the organisation towards the society. Business organisations are the part of society. They earn by using the resources of society so they must do something for society also.

The major social objectives of organisation are :

(a)  Supply of quality products at reasonable prices.

(b)  Contribution towards desirable civic activities.

(c)  Generation of economic wealth.

(d)  Generation of employment opportunities.

(e)  Financial support to community.

(f)  Organizing educational, health and vocational train programmers.

(g) Participating actively in social service projects of Govt. and N.G.Os.

(h) Using environmental friendly methods of productions.

(i)  Providing employment opportunities to weaker section of society.

For example, Asian Paints contributed large amounts funds to enable farmers to use local resources effectively

Steel Authority of India Ltd. contributed regularly for agriculture, industry, education, health, care and drinking water supply to the people living nearby their steel plants.

1.3.3

Personal Objectives

Individual objectives are related to the employees of the organisation. As employees are most important resources of every company and satisfied and motivated employees contribute maximum for the organisations.

The main individual objective of management are :

(a) Competitive salary

(b) Personal growth and development (promotion, training etc.)

(c) Peer  recognition (self respect and respect for colleagues.) 

(d) Good and Healthy working conditions.

(e) Social recognition.

Workers may lose interest in work if their objectives are neglected. Management must try to integrate the personal objectives with the organisational objectives.