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Business is done with some objectives. These can be divided as
(a) Economic objectives and (b) Social objectives. Following are the Economic Objectives:
1. Earning Profit: Business is done with the main objective of earning profit. Profit is always a motivating factor for a businessman.
2. Searching New Customers : To maximize profit a business organisation has to search new customers. It is required to expand the business. It is also important to retain the old customers.
3. Best possible use of Resources : Making best use of available resources is the objective of business. This ensures avoiding of wastage and saving valuable money. This ultimately leads to increase in profit.
4. Innovation : One of the important objectives of business is to make innovations for the development of business. Therefore research and development becomes an important part of the working of any business organisation.