Joshi Ltd. is one of the biggest companies that make scooters in India. They usually sell about 50% of all the two-wheelers (scooters) in the country. The term demonetisation has become a household name since the government pulled the old ₹500 and ₹1,000 notes out of circulation in November 2016. Before the year 2016, the Indian government had demonetized bank notes on two prior occasions- once in the year 1946 and then again in the year 1978. In both cases, the purpose was to combat tax evasion by ‘black money’. Due to demonetization, many people were not buying new vehicles because there was not enough money around. Because of this, the production manager who is incharge of making the scooters decided to make fewer of them to match the lower demand in the market.

Demonetisation's purpose was to combat tax evasion by ‘black money’.

What is indicated in the above statement?

Objective

The correct answer is option 1- Objective

Demonetisation's purpose was to combat tax evasion by ‘black money.' - Objective.

Objectives are very basic to the organisation and they are defined as ends which the management seeks to achieve by its operations. Therefore, an objective simply stated is what you would like to achieve, i.e., the end result of activities.They represent the end point of planning. All other managerial activities are also directed towards achieving these objectives. They are usually set by top management of the organisation and focus on broad, general issues. They define the future state of affairs which the organisation strives to realise. They serve as a guide for overall business planning. Different departments or units in the organisation may have their own objectives.