Achieve maximum results with minimum effort: the main objective of management is to ensure maximum results with minimum effort% 26 resources. Management is basically concerned with thinking that% 26% use human and material resources,% 26% financial resources in such a way as to result in the best combination. Management attempts to achieve specific objectives, which are the requested result of any action. They must be received from the fundamental point of view of the business.
In any business, there are several objectives and management has to complete all the objectives efficiently and effectively. Objectives can be classified into organizational objectives, social objectives, and personal or individual objectives. If Ram runs a store and incurs a cost of 50,000 rupees a month, he has to raise a minimum income of 50,000 rupees to cover all his expenses, otherwise his business won't survive. If the store's revenue exceeds 50,000 rupees, then Ram makes a profit.
The greater the gap between the cost of production and the revenues collected, the better the benefit. It will help you reduce business risk. Patanjali is growing, as it markets a variety of products and opening large stores in several cities. C) PERSONAL OR INDIVIDUAL OBJECTIVES I) REDUCE THE COST OF LABOR BY MOVING THE MANUFACTURING UNIT TO A BACKWATER LOCATION WHERE LABOR WOULD BE AVAILABLE AT A VERY LOW COST.
II) START MANUFACTURING SOLAR HEATERS AND SLOWLY REDUCE THE PRODUCTION OF ELECTRIC HEATERS. THIS WILL NOT ONLY HELP TO COVER RISKS, BUT IT WILL ALSO HELP TO MEET OTHER OBJECTIVES. A) RECOGNIZE AND EXPLAIN THE MANAGEMENT OBJECTIVES MENTIONED ABOVE. B) INDICATE TWO VALUES THAT THE COMPANY WOULD LIKE TO COMMUNICATE TO THE COMPANY.
These objectives are the survival, profits, and growth of an organization. Organizations that care about society enjoy long-term growth. Use environmentally friendly production methods, generate employment opportunities, etc. What was mentioned above is the concept, which is clarified in detail about the Objectives of Management for students in class 12 of Commerce.
Know: The above is the concept, which is clarified in detail about the Objectives of Management for students in class 12 of Commerce. To learn more, stay tuned to BYJU'S. In simple terms, the main objective of management should be to manage organizational functions in a more fluid and efficient way. If you try to classify the objective of management, you can generally classify them into a few categories.
Iii) Optimal use of resources: The objective of management is to use the various resources of the company in the most economical way. The system shall be designed and controlled in such a way as to ensure reliability in such a way as to meet this objective. Management maintains discipline and increases people's morale by applying the principles of decentralization and delegation of authority. As a public sector company that is accountable to the people of India, the company will strive to maintain a sense of national interest in fulfilling its responsibilities and will constantly seek to deserve and enjoy the highest public trust and appreciation.
It is the employees who lead the organization to the core, and taking care of them should be one of the main options among the objectives of your organization. While it's important to set goals as detailed and specific as possible, it would be a mistake to assume that corporate objectives will include everyone and work on their own. The management of an organization is primarily responsible for setting objectives and directing its workforce to achieve them. Organizational objective of management related to the optimal use of resources to achieve this final objective.
The company will ensure good corporate health by adopting sound management practices, including the establishment and maintenance of a dynamic organizational structure appropriate to meet the company's current and future needs; long-term planning; product diversification; strong financial control and comprehensive research, development, engineering and consulting services. The top management of successful companies defines the company's objectives so that management knows what the company represents and the goals it has to achieve. In setting these objectives, management takes into account the benefits of all related parties (such as the owner, employee, customer, government, etc.). The basic objective of management should be to ensure maximum results with minimum effort through the efficient use of resources.
Developing or setting corporate objectives seems simple, but in practice it is a very difficult task. It should take into account the objective of obtaining benefits from a company when performing various functions. .