Objectives of Management: Organisations, Social, Personal

In any organization there are different objectives and management has to achieve all objectives in an effective and efficient manner.
These objectives of management can be classified into three categories:
1. Organizational objectives
2. Social objectives
3. Personal objectives

Let’s discuss these objectives one by one.

Table of Contents

Objectives of Management: Organisational Objectives

Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business.

Survival: The basic objective of any business is survival. In order to survive, an organization must earn enough revenues to cover costs.
Profit: Management has to ensure that the organization makes a profit. Profit provides a vital incentive for the continued successful operation of the enterprise.
Growth: To remain in the industry, management must exploit fully the growth potential of the organization. There are many indicators of growth such as sales volume, increase in the of employee count, the number of products or the increase in capital investment

Social Objectives

As a part of society, every organisation whether it is business or non-business, has a social obligation to fulfill which is to consistently create economic value for various constituents of society. This includes: