Explain any four objectives of business

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Detailed Solution

The four main objectives of business are profit earning, growth, social responsibility, and innovation.

1. Profit Earning

The basic aim of every business is to earn profit. Profit helps the business survive, expand, and reward owners and employees. Without profit, no business can continue in the long run.

2. Growth

Every business wants to expand its activities, increase sales, and enter new markets. Growth ensures better opportunities for employees and more stability for the business.

3. Social Responsibility

A business is not only for owners but also for society. Businesses provide employment, pay taxes, ensure quality products, and care for the environment. Acting responsibly improves reputation and trust.

4. Innovation

Innovation means bringing new products, better services, or improved ways of doing work. Businesses that innovate remain competitive and satisfy changing customer needs.

Objective	Explanation	Example
Profit Earning	Survival and financial success	A company selling products for income
Growth	Expansion of market and activities	A brand opening new branches
Social Responsibility	Serving society and environment	CSR activities, eco-friendly products
Innovation	New ideas and products	Smartphones with new features