Madhu completed her food technology degree two years ago. Initially, she worked in a company manufacturing chutneys, pickles, etc. After working in that company, she decided to venture into a organic food processing unit. Setting specific objectives and targets, Madhu devised a plan to achieve them. One key objective was to achieve a 8% profit in the first year. To facilitate this, Madhu planned to source raw materials like fruits, vegetables, and spices on a two-month credit from farmers engaged in organic cultivation. Additionally, she opted to manage the marketing of her products through her own outlets. In the organizational setup, Mohani took on the role of Production Manager, responsible for determining the precise procedures for production activities. Mohani also calculated the required workforce throughout the year based on Madhu's sales targets for different products and areas in the upcoming quarter. Maintaining a focus on safety and hygiene during production, Madhu implemented a penalty of ₹50 per day for failure to wear the mandatory caps, gloves, and aprons. This measure aimed to ensure a clean and secure working environment in the factory.

Which of the following is discussed in the lines- 'To achieve a 8% profit in the first year'?

Objective

The correct answer is option 1 i.e. Objective.

To achieve 8% profit is the objective of the company.

Objectives can be said to be the desired future position that the management would like to reach. 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.