Passage:

Read the case given below and attempt the following questions

Anukriti, a III year B. Com student is very fond of home cooked food as her mother keeps experimenting with new tastes and varieties every now and then. Although the family is well off and reputed in society. her mother feels lack of recognition and self-respect for herself. The mother daughter duo decided to go ahead with their own start up and cater to various occasions like birthday parties, office events, festivities, food for elderly and patients and so on.

They assessed the number and type of human resources required and accordingly hired the calculated man-power for help from those introduced by their domestic help and some relatives. They ensured the quality standards for hygiene in kitchen, standardized the quality of vegetables, dry fruits and other raw materials to be purchased, made sure that the orders are delivered in time.

While Anukriti's mother took care of all cooking in Kitchen, she personally observed the helpers at work. Being a commerce student, Anukriti decided to take care of finances herself. She prepared budgets in terms of quality, time, cost of material, calculated a point with no profit, no loss to ensure earning of target profits.

As per the feedback received front customers, they improvised the dishes with lesser oil, spices, sugar.

As both of them were very understanding and positive towards feedback, their business grew well. Gradually, they trained their staff in cooking, packaging. inventory management. The employees are happy and satisfied as their basic remuneration and incentives are increased.

They trained their staff in cooking, packaging, inventory management. The employees are happy and satisfied as their basic remuneration and incentives also increased.

Identify the objective of management highlighted above here -

Personal Objectives 

Management seeks to achieve certain objectives which are the desired result of any activity. They must be derived from the basic purpose of the business. In any organisation there are different objectives and management has to achieve all objectives in an effective and efficient manner. Objectives can be classified into organisational objectives, social objectives and personal or individual objectives.

Organisational Objectives: 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.

Personal objectives: 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.