BBA Study Material Business Organisation Social Economic
BBA Study Material Business Organisation Social Economic :- In This Article You Can Find Meaning Business organisation Notes . and social objective, economic objectives, human objectives, national objectives Means That Its Is Best Topic of Business Organisation Study For BBA 1st Semester Year . Here You Find Topic Wise,Chapter Wise, Subject Wise Study Material BBA MBA Management introduction of management And other Links of Related to the Business organisation . How To Learn BBA Business organisation Notes Levels of management scientific management introduction of management spacial of bba and mba other You Here . we find the business organisation social objectives, human objectives, national objectives, meaning more Thanks For Read This Article. Knowledge is the only meaning full resource today. The traditional factors of production-land, labour and capital have not disappeared. But they have become secondary. Speaking and writing effectively is important, but nowadays greater importance lies acquiring a firm and job oriented technical know-how. We are in continuum of producing edition series of BBB Notes Video classes, which is providing aspirants self-help BBA study material in the form of question/Answer series. This Question Paper series for BBA has been written according to the latest national curriculum approved by course includes C.C.S University. The Purpose of this series is to enable the student to develop a better understanding of the concerned subject in the field of business management-both in theory and practical aspects. It also aims at inculcating the student a deeper appreciation for entrepreneurship. BBA notes Language of the series is simple and lucid. The word Business organisation originates from the word ‘organism’ which means a structure with its parts so integrated that their relation to each other is governed by their relation to be whole.
Business objectives
The Primary objectives is to earn profit. But any business activity has its own ramifications not only in the economic field but also in the social and human aspects of the civilisation.
According to Henry Ford, “Business in not mere money chasing but it also should aim at serving the community.” Urwick states that, “Profit can no more be the objectives of a business than eating is the objective of living.
Thus, we see that a is not only an instrument of profit earning but also an harbinger of social contentment and promoter of harmony, justice, fair-play and stability in human relationships. The objectives of business can be broadly classified under the following three headings :
Economic Objectives
- Earning Adequate Profits : Earning of profits is essential for the survival of any business organisation. ‘No profit no loss’ basis of business cannot be accepted by anyone except a philanthropist. It is not the profit but the profiteering which is bad. In the words of Drucker, whether it is the motive of the businessman to maximize profits is debatable. But it is an absolute necessity for the business enterprise to produce at least the profit required to cover its own future risks, the profit required to enable it to stay business and to maintain intact the wealth producing capacity of the resources.
It follows from the above observations that business should aim at profit. It ensures continuous flow of capital for future replacements, extensions, modernization of business apparatus, etc. Thus, profit acts as the life blood for business.
- Exploring New Markets : Another economic objective of a business is the exploration of new markets and the creation of more customers. The prosperity and continuity of an industry largely depends upon its growth and expansion. In Drucker’s view, “It is to supply the consumer that society entrusts the wealth-producing resources to the business enterprise.”
Thus, a business can sustain itself and grow further only if it is capable of creating a demand for its goods and services. Every business requires to assess its working in relation to the existing environment and re-position itself in the market to meet the changing demands and preferences of the customers. This way, the key to any successful business lies in introducing the products and services to the potential cutomer.
Social Objectives
Both business and society co-exist. Neither of these has an existence in isolation. In fact, business and society are the two sides of the same coin. Thus, every business has some obligations towards the society also. Undesirable activities should neither be undertaken, non should adulterated goods is always against the interest of society.
According to Haward Bowever, “Social responsibility of business includes high level of employment high standard of living, swift economic progress, economic stability and national security”
Let us now discuss some of the major social objectives in detail :
- Generation of Employment : One of the social objective of every business is to provide employment to the members of the society. Provision of adequate and full employment opportunities is a very important service of business to the society specially in a developing economy like India. Besides, a handicapped and poor people should be given special consideration at the time of recruitments. To make them useful in work, training must be imparted where necessary. Thus, helping the poor families to increase their earnings and making the handicapped more useful for the society, increase the public images of the business firm.
- Production of Standard Quality Goods : Another social responsibility of every business is production of standard quality goods for the well being of the people. Quality here refers to durability, as in the case of camera, radio etc., or purity as in the case of petrol, medicines and other eatables or safety as in the case of gas stove, water heater, scientific instrument etc. ensuring goods quality of the goods to the society is an improvement responsibility of business.
- Providing Goods at Reasonable Prices : Business must provide high quality of supplies and services to the customers at the reasonable prices which cover costs of production and leave a fair margin of profit will be acceptable to the society. Anti social practices like hoarding, black marketing and over charging buyers are highly undesirable activities. Any business adopting such anti-social or unethical trade practices earn a bad name for itself. Excessive prices with a view to grab unreasonable profits are sure to bring a closure of business soon.
- Fair Return to Investors : Now-a days, the size of business has expended so much that instead of a few persons owing it, thousand people owing it. Many people purchase the shares of sompanies. The business is operated by the money invested by the shareholders business should be to fulfill this expection of shareholders.
- Contribution to Community Development : Business should contribute some thing to the society where it is established and operated. Library dispensary, educational institutions to the society where it is established and operated. Library dispensary, educational institutions etc., are certain contribution which a business can make and help in development community.
Human Objectives
Till sometime back if a businessman was asked as to what was his most precious asset, he would have pointed towards his building, plant, goodwill or brand. But the time have changed and now the workers are considered as the most valuable asset. Labour is a precious human element in business. Hence, fair treatment to the workers is regarded as the moral obligation of business.
As prof. Elton Mayo puts, it humanistic attitude makes life more fun for the workers and their job more meaningful. business firms provide for good working conditions for employees and pay them satisfactory wages and salaries. The efficiency and success of the business enterprise depends mainly on the motivation and ability of its employees. Large business firms generally provide for housing and medical facilities for the employees and their family members. Some of the major human objectives are :
- Fair Deal with Employees : The first human objective is to pay fair wages, salaries and incentives, proper working and living conditions. Employees welfare is no less important than customer satisfaction.
- Participation of Management : Workers will put for their best efforts only when they are given an opportunity to participate in making decisions which affect them. Workers participation in management facilities redressal of employee grievances quickly and at the lowest possible level. Recognition of worker’s representatives and their legitimate activities help to maintain healthy trade union practices and sound industrial relations.
- Job Satisfaction : It is the obligation of business enterprise to make the jobs interesting and challenging. So that employees may get job satisfaction while performing their job section of right man for the job and reducing unpleasantness of jobs help to offer job employees should be treated as human beings rather as working tools. A business enterprise fulfill its human objectives when it recognize the dignity.
National Objectives
In today scenario the business is expected to serve as instrument for the fulfillment of national needs as aspirations as implemation of national plans and policies in accordance with the accepted priorities. Keeping in view the overall national objectives of establishing a democratic, secular and socialist society and foresting growth stability and social justice business have to serve the national objectives which are as follows :
- Production According to National Priorities : In keeping with national plan objectives, business enterprise should manufacture and supply goods necessary for country development. It is also the national objective of the business to manufacture the cheaper varieties of essential commodities like soap, cloth, edible oil, etc.
- Regular Payment of Taxes : The biggest sources of income for government is money received through tax collection. Hence business should pay their taxes duly calculated and on time. Evasion of tax is violation of trust of motion. By elimination the ovil of tax evasion, business should fulfill the objective.
- Proper use of National Resources : Business is the result of use of national resources. Hence, it is expected from business that it will utilize the national resources optinally. By the optimal utilization of resources here means that first of all the necesstities of people are fulfilled and then remaning resources and used in a manner to manufacture comfort and luxary goods.