Business Concepts and Evolution of Business.
Aim of Business is not only to earn Profits.
But a Business cannot afford to have profit alone as its sole objective.
Responsibility of business towards society:
Business is to cater to the needs of Customers.
Provide Services to the public.
Responsibility of business towards its employees:
Business must fulfill the responsible employees by providing food working conditions and reasonable wages.
Economic Objectives of Business:
Earning of satisfactory profit.
creation of customers
making innovations which help the customers in getting better and more economic goods and services.
Social Objectives
Supply of quality goods to the community
Fair deal to workers
Fair return to investors
Fair dealings with the suppliers
Aim of Business is not only to earn Profits.
But a Business cannot afford to have profit alone as its sole objective.
Responsibility of business towards society:
Business is to cater to the needs of Customers.
Provide Services to the public.
Responsibility of business towards its employees:
Business must fulfill the responsible employees by providing food working conditions and reasonable wages.
Economic Objectives of Business:
Earning of satisfactory profit.
creation of customers
making innovations which help the customers in getting better and more economic goods and services.
Social Objectives
Supply of quality goods to the community
Fair deal to workers
Fair return to investors
Fair dealings with the suppliers
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