Every business or management has its own objective, the first and foremost one is to maximize profit .The entire business runs on nothing but its profit there is no different opinion rather than to maximize profit.
Profit maximization is not an easy task, the objective of each and every staff related to business should have same objective and that is to maximize profit .The main objectives of management in a business firm are customer satisfaction, employee welfare, social responsibilities and to maximize profits
The first is customer satisfaction. The customers are the end users of our product or service. For any business to run successfully the customers have to be happy about the product. Management always have a keen eye on its products that they give to customers .It should satisfy each and every customer with its price, quality and brand image.
Another main objective is employee satisfaction. No company can run its business successfully with its unhappy employee. But to clear both the above said objective a company should have to maximize its profit; with the maximization of profit the management can overcome other objectives very clearly. But there a live example of many business firms has demolished due to over concentration in profit making rather than maximizing its value.
Many people have described about profit maximization versus value maximation and concluded that maximizing profits can only run your business for a short run, but maximizing value of business can take your business to long run and makes it a socially responsible firm. The corporate social responsibility is needed from each and every business firm. The main reason behind that is not only the business or management and people relating to business should grow but the needy people should get some value addition from the corporate. But from firms point of view the above said social benefits can be done if the business runs in excess profit. as a proper, efficient and effective management should do its need according to Maslow’s need hierarchy theory ,the first need is getting value customers who satisfy the business firms second need which is making profit and with the excess profit they made they can uplift the society also all this happens when a management cares its profit and tend to maximize its profit .