Question : Which objective of management focuses on achieving the financial goals of the organization?
Option 1: Economic objective
Option 2: Social objective
Option 3: Organizational objective
Option 4: Personal objective
Correct Answer:
Economic objective
Solution : The correct answer is (a) Economic objective
The economic objective of management is centered around achieving financial performance and profitability. It involves optimizing the use of resources, maximizing revenue, minimizing costs, and generating sustainable financial returns for the organization. Managers are responsible for making strategic financial decisions, managing budgets, monitoring financial performance, and ensuring the organization's financial health. The economic objective is essential for the long-term sustainability and growth of the organization. Therefore, the focus on achieving the financial goals of the organization aligns with the economic objective of management.
