where performance and results like supply of electricity, gas or water, transportation, banking, insurance etc. iv. Regularity of Dealings An isolated dealing in buying and selling does not constitute business. The transactions must be regular.
For example, if a person buys a scooter for his use and later on disposes it of at a profit, he cannot be said to have been engaged in business. The buying and selling must be recurrent to constitute business. v. Profit Motive An important feature of business is profit motive.
Business is an economic activity by which human beings make their living. It is, in fact, the attraction of profit which spurs people to do business. commerce - - . .
PM directly affect survival and prosperity of a business. Various objectives of business may be classified into five broad categories as follows; A. Economic Objectives Economic objectives of business refer to the objective of earning profit and also other objectives that are necessary to be pursued to achieve the profit objective, which includes creation of customers, regular innovations and best possible use of available resources. B.
Social Objectives Social objectives are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare. No activity of the business should be aimed at giving any kind of trouble to the society. C.
Organizational Objectives The organizational objectives denote those objectives an organization intends to accomplish during the course of its existence in the economy like expansion and modernization, supply of quality goods to consumers, customers’ satisfaction, etc. D. Human Objectives 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. The human objectives of business may thus include economic well-being of the employees, social and psychological satisfaction of employees and development of human resources.
E. National Objectives The goal of the country may be to provide