Which of the following is correct about objectives of management?

Organisations should reconcile personal goals with Organisational goals

The correct answer is option (3) : Organisations should reconcile personal goals with Organisational goals.

* Economic objectives of a business include providing employment opportunities to the under-privileged sections of society- This is incorrect. Providing employment opportunities to the underprivileged sections of society is social objective not economic 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. These are survival, profit and growth.

* Growth and profit are personal objectives of an individual- This is incorrect. These are organisational objectives not personal objective.

* Organisations should reconcile personal goals with Organisational goals- This is correct.  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 organization.

* Environment friendly methods of production is  an Organisational objective- This is incorrect. Environment-friendly method of production is a social objective not an organisational objective. Social objectives involve 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 environmentally friendly methods of production, giving employment opportunities to the underprivileged sections of society and providing basic amenities like schools and healthcare, etc., for the community.