Human Objectives

Business activity can be conducted only through the medium of human beings working as individuals or groups in organizations. If the human factor is overlooked, it will be difficult to achieve its objectives. Human objectives of business require that a workable balance should be maintained among the claims of various interested groups like employees, shareholders and consumers. Some to the important human objectives are:
(a) Welfare of Employees: The employees should be looked upon as human beings. The help in increasing the profitability and should be given a due share in profits in form of bonus, increased allowances or spending money on their welfare. The best prerequisite for getting the best out of people is providing a fair wages and other incentives.
(b) Satisfaction of Consumers: The business is meant for consumers and their satisfaction should be the main objectives of business. So goods should be produced according to the needs tastes and purchasing power of the consumers. They should be provided with quality goods at reasonable prices.
(c) Satisfaction of Shareholders: The management should give reasonable return on the money invested by the shareholders. At the same time, the business should grow so that there is capital appreciation also. The shareholder should also feel that the management does not misuse their money.