Hey everyone, we welcome you to our company portfolio website. In this very first post we wish to let you guys know our objectives of our business, we have four major objectives as follows
1. Economic objectives
- Survival: While the ultimate goal is to make enough money to pay for all overhead costs and also make a profit, small businesses or new businesses might be focused on simply making enough revenue to cover the costs so that they can stay in business.
- Profit earning: Beyond business survival, owners want to earn enough to have a salary and/or be able to grow the business.
- Growth: Most business owners consider growth: how they will grow, what actions they will take when demand outpaces production and how short- and long-term growth will affect their business.
2. Human or individual objectives
- To pay competitive salaries
- To offer employee perks, like unlimited vacation or team appreciation events
- To provide safer and more health-conscious working environments
- To provide personal growth and development opportunities
- To provide incentives to motivate employees
3. Organic objectives
- To use profits to raise capital or strengthen the business
- To use growth models to contribute to business’s success
- To drive innovative ideas through focused activities
- To improve brand and reputation
- To grow production size to meet demand
4. Social objectives
- To ensure better quality products for customers
- To ensure fair prices for customers
- To ensure fair trade practices
- To ensure fair employment practices (anti-discriminatory)
- To protect the environment by taking reasonable steps to limit corporate carbon footprint
- To serve the community (schools, charities, social programs etc)