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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


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

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.

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