(i) Economic objectives: Economic objectives should aim at satisfaction of human needs for different kinds of goods and services and for the personal gain of the businessman.
Profit making: Risk is inherent in business and profit is the reward for undertaking risk. A businessman must earn profits in order to stay in business. The expectation of profit provides the basic incentive to business pursuits. But profit making is not the sole objective of business.
(ii) Social objectives: It is often found that economic objectives of business mainly centre round profit motive. But profit should be distinguished from profit earning which is bad for every business. Profit can be earned in various ways like black marketing, hoarding,
adulteration etc. That will generate business into swindling. So, as a member of the society whose well being means of the businessman also, a business man should temper his profit motive by objectives
of service motive and social obligations. If a business enterprise serves the various sections of society, profits will follow automatically. Profits are, in other words, the reward which business receives by serving society. There is no conflict between profit motive and service to society. It is through service that business earns profits.
(iii) National Objectives: National objectives differ from social objectives in the sense that social objectives are the ways of doing business, but national objectives require the businessman to take up and develop such lines of business as are needed by the nation or country for its development. Keeping in view the overall national objective of establishing a democratic secular and socialist society and fostering growth, stability and social justice. Business in India has to serve the national objectives.
