Which type of management objective takes care of the interests of all the stakeholders in a fair and just manner?

Organizational objective

The correct answer is option 1- Organizational objective.

Organisational objective takes care of the interests of all the stakeholders in a fair and just manner.

Management is responsible for setting and achieving objectives for the organisation. It has to achieve a variety of objectives in all areas considering the interest of all stakeholders including, shareholders, employees, customers and the government. The main objective of any organisation should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business. These are survival, profit and growth.

OTHER OPTIONS

Social objective- Social objectives involves the creation of benefit for society. As a part of society, every organisation whether it is business or non-business, has a social obligation to fulfill. This refers to consistently creating economic value for various constituents of society. This includes using environmental friendly methods of production, giving employment opportunities to the underpreviledged sections of society and providing basic amenities like schools and healthcare, etc., for community.

Personnel objective- Organisations are made up of people who have different personalities, backgrounds, experiences and objectives. They all become part of the organisation to satisfy their diverse needs. These vary from financial needs such as competitive salaries and perks, social needs such as peer recognition and higher level needs such as personal growth and development. Management has to reconcile personal goals with organisational objectives for harmony in the organisation.