Answer question based on the passage below:-

Mona is working as Marketing Manager in IOTA ltd. The company is venturing into a new segment of manufacturing "Power gummies" for health conscious segment of society who prefer eating supplements for vitamins, minerals, fish oil etc. The chief objective of the company is to make an entry into this new segment. So they are planning to endorse their product via a brand ambassador from sports field. They aim to earn at least that much profit so that its costs and risks are covered.The management also aims to reduce costs and increase productivity by providing common direction to the individual efforts in achieving the overall goal of the organisation.

_________ objective of management is being aimed by IOTA Ltd.

Organisational

The correct answer is option (1) : Organisational

IOTA Ltd aims for "Organisational" objectives. The passage mentions that the company's chief objective is to make an entry into a new manufacturing segment, to earn enough profit to cover costs and risks, and to increase productivity by providing a common direction to individual efforts in achieving the overall goal of the organization. These objectives are primarily focused on the success and objectives of the organization as a  whole.

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.
Survival: The basic objectives of any business is survival. Management must strive to ensure the survival of the organisation. In order to survive, an organisation must earn enough revenues to cover costs.
Profit: 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.
Growth: A business needs to add to its prospects in the long run, for this it is important for the business to grow. To remain in the industry, management must exploit fully the growth potential of the organisation.