Which among the following does NOT relate with the objectives of management?

The organisational objective of management is to ensure that organisation does not make a profit.

The correct answer is option 1- The organisational objective of management is to ensure that organisation does not make a profit.

The organisational objective of management is to ensure that organisation does not make a profit. It is not true as 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.  Management has to ensure that the organisation makes a profit. Profit provides a vital incentive for the continued successful operation of the enterprise. Profit is essential for covering costs and risks of the business.

OTHER OPTIONS

• Management is responsible for setting and achieving objectives for the organization- RELATED WITH ORGANISATIONAL OBJECTIVE. 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.

• Social objectives involve the creation of benefits for society-  RELATED WITH 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.

• Organizations are made up of people who have different personalities, backgrounds, experiences and objectives. They all become part of the organization to satisfy their diverse needs-  RELATED WITH 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.