Explain any four objectives of business …

Business needs multiple objectives as it seeks to create a balance between different needs and goals of different interest groups, like consumers, employees, society at large, etc. The various multiple objectives of the business are described below:

1. Market standing: Every business should strive to create and maintain a reputable market position with regard to its competitors. In order to achieve a stronger market standing a business needs to focus on enhancing customer's satisfaction.
2. Innovation: In order to obtain an edge over its competitors and boost its public image every business needs to constantly review and revise its products and process in terms of creating better technology and utility.
3. Productivity: The ratio of values of inputs to values of outputs reflects the productivity of activities. Every business seeks to achieve a higher level of productivity by increasing its efficiency.
4. Earning profits: One of the most important objectives of every business is to earn profits. Profits are vital for the survival, growth and expansion of the business. The profitability of a business refers to the ratio of profit to capital investment.