OBJECTIVES OF BUSINESS

The objective of a business describes those things a business seeks to ascertain.

They give direction to activities to be performed or resources to be deployed. Normally, the success of these objectives ensures the progressive existence survival and growth of the organization. Akpala (1990 : 50) posits that there exist two classes of business objective which are:- economic objective and social objectives. In the economic objectives, according to him, are goals of the organization with respect to production and the market place and will include such things as profit making, staying ahead of competition, provision of good product and services, survival, growth and efficiency. He maintains that economic objectives are spelt out in terms of sales volume, share of the market naira profits, returns on capital etc.

Social objectives, in other words, refer to the goals of the company with respect to its organization responsibility to its employees, share holders and the society at large.

Onuoha (1991:79) provides more specific Objectives of business to include:

1. To produce goods and services in order to meet customer demand;

2. To ascertain such production and distribution activities at a profit;

3. To ensure survival and growth;

4. To ensure the physical and psychological welfare of its personnel.

5. to be a good Corporate Citizen

business exists in environment and interacts with different persons who make demands and whose activities do impact on the participation of the business these persons may include the owners of the business, the government and its agents, the employees, customers, competitors, suppliers and the community.

The purpose of any business, hence, should be to meet its different publics that is to meet the different needs of its various publics. To the owner’s, the business should make profit that is made easy by the production of goods and services that satisfy customers. Owing to this fact, the business should be lively and grow.