Question : Which of the following is a primary objective of management?
Option 1: Maximizing profits
Option 2: Minimizing costs
Option 3: Ensuring employee satisfaction
Option 4: Achieving work-life balance
Correct Answer:
Maximizing profits
Solution : The correct answer is (a) Maximizing profits
Maximizing profits is a primary objective of management, especially in the context of for-profit organizations. Management aims to optimize the financial performance of the organization by increasing revenues, controlling costs, and improving efficiency. Maximizing profits enables the organization to generate resources for growth, investment, and sustainability. While other objectives, such as minimizing costs, ensuring employee satisfaction, and achieving work-life balance, are also important considerations for management, maximizing profits is a fundamental objective that ensures the organization's long-term viability and success.
