It helps in exchange of information between producers, consumers and traders. (c) 9. (vi) Preparation of Necessary Documents The promoter takes up steps to prepare certain legal documents. Objectives guide and govern the actions and behaviour of businessmen. (ii) Articles of Association Justify your answer. Fair compensation and benefits are goals every business should strive to meet. (ii). (iii) Profession (iv) None of them Employee turnover slows business by making ongoing hiring and training a necessity. Why is business considered an economic activity? Disclaimer 9. (i) Business (ii) Employment (iv) Minimum subscription Human objectives refer to the objectives aimed at the well-being as well as fulfillment of expectations of employees as also of people who are disabled, handicapped and deprived of proper education and training. Peter F. Drucker remarked, “To Manage a business is to balance a variety of needs and goals. Adding incentive for meeting objectives will also increase performance and productivity. Business is dependent on many people’s satisfaction whose objectives for being involved in it are different and many times conflicting. Objectives to replicate processes and manage hiring, after meeting sales goals and revenue benchmarks, is a necessary objective. Question 1. Question 2. Another way to prevent getting this page in the future is to use Privacy Pass. In every society, activities such as hoarding, black- marketing and over-charging are considered undesirable. Without being healthy getting involved in economic activity is not possible. For doing the same. The following are the national objectives of business. Explain any five such objectives. A STUDY (vi) Allotment of shares. Question 8. How will that affect the achievement of school objectives… Question 7. Business risk is not likely to arise due to The principal objective of any company must be to use material and human resources to the maximum potential benefit, i.e., to meet the financial objectives of a firm. Profits must be earned to ensure the survival of business, its growth and expansion over time. According to BO Wheeler, “Finance is that business activity which is concerned with the acquisition and conservation of capital fund in meeting the financial needs and over all objectives of business enterprise.. 2. (ii) Presence of risk Banking and Finance: Business needs funds for acquiring assets, purchasing raw materials and meeting other expenses. Scribd will begin operating the SlideShare business on December 1, 2020 Membership of a professional body and certificate of practice is required. Short Answer Type Questions What Are the Four Ways in Which Quality Can Affect a ... What Are the Four Ways in Which Quality Can Affect a Company? Maximum profits in the short run, may result worse for long term interest of the company. Explain. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Economic activities are undertaken with an economic motive, i.e., to earn money, but non-economic activities are undertaken without any economic purpose. What is business risk? 6. (iii) Innovation (iv) Profit earning Define the Profession. A key employee does not show up for work, a natural disaster strikes and halts production, the economy crashes. CBSE Class 11 Business Studies Notes : Nature and Purpose of Buisness. Advertising: Advertising brings goods and services to the knowledge of prospective buyers. Business managers devise plans to meet these objectives and keep track of progress and deviations. Happy customers leave positive reviews, spread positive word of mouth and are more likely to repeat business. If you continue browsing the site, you agree to the use of cookies on this website. 1. Business Finance It refers to capital funds and credit funds invested in the business. Answer: Economic activities can be grouped under business, profession and employment. Discuss its salient features. Question 6. For solutions and study materials for Class 11 Statistics for Economics, visit BYJU’S or download the app for the best learning experience. There may be profits in millions or there may be a heavy loss. Compare business with profession and employment. (iv) Salary or wages (vi) Payment of Fee. Along with transport, communication is also an important service. NAME: YASH JAIN business objectives and discuss factors that can influence these relationships (e.g. auditors etc are appointed by the promoters. He/ She is also expected to provide equal opportunities to all the employees to work and progress.

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