Akash Industries has installed a waste recycling plant in its premises and does not dump their waste material anymore. This plant is providing employment to many people. Identify the objective of management which the company is achieving by doing the aforesaid activity.
Social objectives
Understanding Management Objectives in Business
Management objectives are the goals or aims that an organization strives to achieve. These objectives guide the decisions and actions of the management team. They can be broadly classified into three main categories: Economic Objectives, Social Objectives, and Personal Objectives.
Analyzing Akash Industries' Actions
The question describes Akash Industries taking specific steps:
- Installing a waste recycling plant.
- Not dumping waste material.
- Providing employment to many people.
We need to identify which objective of management is being achieved through these activities.
Types of Management Objectives Explained
Let's look at the different types of management objectives:
| Objective Type | Description | Examples (from the question context) |
|---|---|---|
| Economic Objectives | Aims related to earning profit, survival, and growth of the business. | Increasing sales, maximizing profit, expanding market share (not directly evident from the described actions). |
| Social Objectives | Aims related to fulfilling responsibilities towards society and the environment. | Providing employment, using eco-friendly methods, contributing to community welfare, providing quality products at fair prices. |
| Personal Objectives | Aims related to the goals of individual employees or groups within the organization. | Fair remuneration, training and development, recognition, good working conditions (related to employees benefiting from employment, but the company's objective is broader). |
| Growth Objectives | Aims related to increasing the size and scale of the business. | Increase in sales turnover, capital investment, number of employees, product lines (employment increase is a sign of growth, but the core action here is environmentally/socially motivated). |
Connecting Akash Industries' Actions to Objectives
Now let's evaluate how Akash Industries' actions fit into these categories:
- Installing a waste recycling plant and not dumping waste: This action directly addresses environmental responsibility. By recycling and avoiding dumping, the company is reducing pollution and preserving resources. This is a clear contribution towards environmental sustainability, which is a key aspect of social responsibility.
- Providing employment to many people: This action directly benefits society by creating job opportunities. Unemployment is a significant social issue, and providing employment is a way for businesses to contribute positively to the community's well-being. This is also a direct fulfillment of a social objective.
Both the environmental action (recycling/no dumping) and the social action (employment generation) fall squarely under the umbrella of Social Objectives.
Conclusion: Identifying the Objective
Based on the analysis, the actions taken by Akash Industries—implementing waste recycling, stopping waste dumping, and generating employment—demonstrate a commitment to benefiting society and the environment. Therefore, the objective of management being achieved by the company is Social Objectives.
Revision Table: Management Objectives Key Points
| Objective Type | Focus | Akash Industries Example Fit |
|---|---|---|
| Economic | Profit, Survival, Growth | Indirectly related if recycling saves costs, but not the primary focus described. |
| Social | Society, Environment, Community | Directly fits: Recycling (Environment), Employment (Society). |
| Personal | Employee Goals | Related to employment benefit for individuals, but the company's objective is broader social impact. |
| Growth | Size, Scale Increase | Employment increase suggests growth, but the motive described is social/environmental. |
Additional Information: Importance of Social Objectives
Achieving social objectives is increasingly important for businesses today. It builds a positive public image, enhances the company's reputation, and can attract socially conscious customers and investors. A company that fulfills its social responsibilities is often seen as a good corporate citizen. This can lead to long-term sustainability and success, as ethical and responsible practices are valued by stakeholders.
Social objectives go beyond just legal compliance. They involve voluntarily taking steps to improve the welfare of society, such as:
- Producing safe and quality products.
- Avoiding unfair trade practices.
- Providing education and training opportunities.
- Working towards environmental protection.
- Contributing to community development programs.
Akash Industries' initiatives are excellent examples of how a company can actively pursue its social objectives for the benefit of both the business and society.
Important Questions from Business Environment
Business Environment consists of numerous interrelated and dynamic conditions or forces which arise from different sources, that are difficult to comprehend. Identify the feature of Business Environment highlighted in the above lines.
These plans are strict, rigid and specific statements that inform what is to be done.
The Government of India made an announcement to demonetise ₹500 and ₹1,000 on:
The prevalent use of UPI (Unified Payment Interface) represents which dimension of Business environment?
Which of the following does not characterise business environment?
