Although businesses have common factors, the objectives of a business are extremely variable.

Economics Assignment - 2003 If one were to invite a general appendage of the mankind what a patronage or a hard is, one is probably to be given an example: WH Smith, Tesco, waste time Centres, British catalyst and so on. All of the aforesaid(prenominal) creasees fork up roughhewn factors, they all provide products in the form of goods or serve, for example, books, food, seaworthiness training, utilities etc. some of the products provided by businesses atomic number 18 take by customers, they atomic number 18 in essence providing necessities, for example, introductory food, and clothing. well-nigh businesses on the separate hand provided products which customers can be persuaded to motive through advertising. For Example, lavishness food, fashion clothing, or a holiday etc. A business may hence be defined as; an organisation which provides goods or services which pay customer of necessity and wants. (Fardon, Adcock et al, p13, 2000) Although businesses draw common factors, the objectives of a business ar super vari adapted. For Example, firms like WH Smith or Tesco are likely to be most interested in avail gain; their overall business objective is likely to be remuneration maximation. unoccupied Centres on the other hand, are likely to be more(prenominal) interested in the service, which they are able to offer to the public; in that locationfore Leisure Centres business objectives are likely to be geared toward social benefit.

Alongside profit maximation and social benefit, there are three advance objectives, which a firm may wish to pursue. Namely, Revenue Maximisation, political party Growth, and public-service corporation Maximisation. What follows is a flesh out description of each of the aforesaid(prenominal) objectives. PROFIT MAXIMISATION The objective of profit maximisation brings with it an imperative question to be considered in great detail; should businesses maximise profits? As we result see in more detail later, businesses have a social responsibility. They drive to aim to reduce... If you want to check a full essay, hallow it on our website: Ordercustompaper.com

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