The Objective of Management is to maximize profit
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 .
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17 Responses to The Objective of Management is to maximize profit
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One of the main motto of the management is to maximize the profit of the business. This is not an easy task to accomplish. Without looking all the satisfactory customer premises, no one can earn the maximum profit of his business. Employee satisfaction is an another big issue on that platform.
Management is the process behind any action taken in the business. It is true that Management is adopted to maximize profit . The main motivation for any business is to create and maintain Brand recognition which is also carried out by Management. Without brand recognition , money earning is almost impossible and survival of business in market is difficult enough to prevent its growth.
To run a organization or in management the primary purpose of both are to maximize profit.Management is always concentrating in profit.Whatever the business is ,the primary aim is to gain maximum profit by achieving desired target.
The goal as a company is to have customer service that is not just the best but legendary.
It means we dont give our service to the customer we devoted our company value in each and every customer by this profit will automatically increase because of company response to customer.
If we want to increase our dimension and increase our profit so we have to take a point to point relationship between customer and company by which customer can directly talk to the company member and they solve the queries immediately so by this so many customer wants to strike only that company and it will increase our productivity and profit
Lastly, profit is directly proportional to productivity, and productivity is directly proportional to customer, so they three have a real factor to increase profit.
The main objective of management is maximize profit. Except this we have to look for some facts that a business firm are customer satisfaction, employee welfare, social responsibilities and to maximize profits etc. On the other hand employee satisfaction is a big factor. We can able to maximize the profit if we carefully handle the following facts…. So, i believe that every company should make some plan over these facts…..
This is true that the objective of Management is to MAXIMIZE profit. Every large scale or small scale organization wants to increase its profit and this can only be done by right management. Only the management people know the tricks of maximizing profit. They have the idea of managing staff, dealing with customers etc.which makes them provide better profit to the organizations.
Every industry works as per the famous principle of – ” MINIMUM INPUT WITH MAXIMUM OUTPUT”. This principle leads to the foremost requirement of the company that is MAXIMUM PROFIT. Every established industry always tries to optimize its profits and it is very well known to us that for maximum profit we require best utilization of resources, which is only possible with proper management. Its very well known to us that their are a number of principles and studies of Management. So different rules of Management can be implemented as the situation demands in the company. I think everyone should read this page and understand the different ways in which management can be applied for optimization of profit in an organisation.
All the organizations are running to earn more and more profit. It is the responsibility of the management to organize, direct staff and manage resources. Only the management can manage the things like resources, customer needs, employees satisfaction in a efficient way.
There are various management philosophies but their types of management differ from one another. Apart from all these, the main objective(motive) of any management to maximize their output with proper utilization of human as well as machinery resources in such they can generate better coordination with best efficiency.
TRUE.. SO VERY TRUE…
the main motive behind a business or a management is to earn profit (MONEY)…
I know it is bitter but it is true..
P.S.: Except for those set up by the government.
The objective of management is create an working environment where an employee can think on their part to complete their respective projects which in lieu will provide gains or one can say profit to an organisation.So yes I agree to the fact “The Objective of Management is to maximize profit”.
BETTER MANAGEMENT MAY EARN MORE PROFITS.
According to me Management always concentrating in profits.
Whatever the business is,their main goal is to make profit.
The role of the management is to organize,direct,study the flow of both of the business and it’s people in most effective way.
The business will surely be successful in a way that is continuously maximized it’s profit by the effectiveness of management itself.
Maximizing the profit of business is never possible without quality products.So to grow a business more better the management has to satisfy their client and employees.Because employees will do that job for the customers.
perfectly the management is to increase the profit at its best
all the above what u have said is ethical business…. but service is the main theme in business.. if ur service is good sure business will grow higher
most of the business men aim is to make more profit on their business… they are not considering about their customers…
off course as Mr.Pradeep said if the quality of the product increases then only the profit increases
it will take a month to make a customer
but it will take a minute to loose them
only the best Management skill can only be able to keep the customers
and it’s the key to increase the profit
only profit maximises with the excel in quality