1) Planning for future: Every management thinks and plans about future. The current as well as future planning go together. The activities to be undertaken in future will be planned at present. No concern can survive if it does not plan for future. The likely business trends, future global trends, likely business laws, changing consumer preference, impact of social changes are the factors which wil be taken into account while planing for future.
2) Better Quality Goods: The consumer has become quality conscious now. He will go to for only those products which are of good quality and satisfy his needs. At present, the survival of a unit is linked to the quality products it produces. The objectives of the management is to bring out quality products so that they are accepted by the market. It will require introduction of quality standards in the business. Management should make efforts to plan production process in such a way that only quality products are produced and marketed.
3) Proper Utilisation of Resources: Every management aims to utilise enterprise resources properly and economically. The proper use of men, materials and machinary will ensure reasonable cost and adequate profits. It is not only the management which will look onward business profits but other interest groups such as employees, shareholders, customer, government will also be affected by its quantum. The efforts of the management should be to make optimum use of available resources in order to achieve better results.
4) Growth and development of business: Managerial efforts to be expand and diversity the business. It there is a scope to expand the existing business then efforts should be made to develop it but avenues to enter new avenues should also be explored. It will give stability and strength to the business.
5) Mobilising best talent: The management should try to employ proper persons in various fields so that better results are possible. The employment of specialists in various fields will be increasing the efficiency of various factors of production. There should be proper environment which should encourage good person`s to join the enterprise. Better pay, scales, proper amenities, future potentialities will attract more people in joining the concern.
6) Promotion of Research: The greatest drawback in India business is its lack luster approach towards research. Management give hardly any importance to research activities. It restrict their strength and capacity to complete in the market. There is a need to keep ourself aware of what is going on in the market and prepare to face it. The promotion of research is the only answer at present. Management should always try benefits of latest technological changes and ready to face the future with conference and zeal.
7)Minimising risk element: Every business at present is facing global competition. The product from developed countries are flooding markets in India. There is a need to improve overall working for staying in such a competition. The management should plan the activities in such a way that business is able to survive, under uncertain conditions. There is a need to minimising risk element and also to explore newer and better avenues.
2) Better Quality Goods: The consumer has become quality conscious now. He will go to for only those products which are of good quality and satisfy his needs. At present, the survival of a unit is linked to the quality products it produces. The objectives of the management is to bring out quality products so that they are accepted by the market. It will require introduction of quality standards in the business. Management should make efforts to plan production process in such a way that only quality products are produced and marketed.
3) Proper Utilisation of Resources: Every management aims to utilise enterprise resources properly and economically. The proper use of men, materials and machinary will ensure reasonable cost and adequate profits. It is not only the management which will look onward business profits but other interest groups such as employees, shareholders, customer, government will also be affected by its quantum. The efforts of the management should be to make optimum use of available resources in order to achieve better results.
4) Growth and development of business: Managerial efforts to be expand and diversity the business. It there is a scope to expand the existing business then efforts should be made to develop it but avenues to enter new avenues should also be explored. It will give stability and strength to the business.
5) Mobilising best talent: The management should try to employ proper persons in various fields so that better results are possible. The employment of specialists in various fields will be increasing the efficiency of various factors of production. There should be proper environment which should encourage good person`s to join the enterprise. Better pay, scales, proper amenities, future potentialities will attract more people in joining the concern.
6) Promotion of Research: The greatest drawback in India business is its lack luster approach towards research. Management give hardly any importance to research activities. It restrict their strength and capacity to complete in the market. There is a need to keep ourself aware of what is going on in the market and prepare to face it. The promotion of research is the only answer at present. Management should always try benefits of latest technological changes and ready to face the future with conference and zeal.
7)Minimising risk element: Every business at present is facing global competition. The product from developed countries are flooding markets in India. There is a need to improve overall working for staying in such a competition. The management should plan the activities in such a way that business is able to survive, under uncertain conditions. There is a need to minimising risk element and also to explore newer and better avenues.
