What Are The Social Objectives Of Business?

Social objectives of business would be things such as maintaining low noise levels and sensible operating hours in residential areas and using proper security so as not to attract criminals to the area.

It could also be the social objective of a shop or a chain of stores to interact with the community in a way that fosters good relations.

• What is a social objective?

Social Objectives are aspirations of positive intention towards the local area, aiming to promote prosperity and develop a strong relationship with the locals in order to co-exist harmoniously.

• Are Social Objectives like Social Business or Social Enterprise?

Not quite. A Social Business is one that seeks to address a specific social problem. It operates at a modest profit and expands slowly, allowing it a greater scope of operation and efficiency.

Social Enterprise is a more general term for Social Objectives, where businesses specifically operate with a social or environmental mission. It is different to a Social Business because it isn't singularly focused.

• What if a business fails to meet its social objectives?

It isn't beneficial for a business to upset the area it's situated in because the local population are a formidable organization should they legally petition for change. A business has a duty to be considerate during unsocial hours. Excessive noise or late night deliveries constitute this sort of unacceptable operating practice.

Businesses can be moved from a more residential location to a location that they can be noisier in. A lot of businesses do this already, but some also require customers to come in off the street, so have to situate themselves near the population.

The objective of every business is to supply quality goods in the market. These days' people like to buy branded goods of superior quality. The buying decisions become easy for customers in case of branded goods. The best machines improved methods and techniques can be used for producing quality goods.

The social objective of a business is the sale of goods and services at reasonable prices. The customers should not feel that the prices are high. A reasonable price level is a tool to win the favor of customers.

In the modern society businessmen are regarded as resourceful and they are honored by the society. In other words. Businessmen because of their wealth and higher standard of living are recognized as influential persons.

Personal satisfaction is also a strong motivating force in entering a business. Many people like to be independent and so they do not join service where they will have to work under bosses.
Some people do business for public service. The first objective of any business should be service. Social objectives of business include providing fair wages to employees, adopting different safety measures for workers, giving training to workers. Providing better health facilities, etc.

The objective of business is also to provide investment opportunities to the public. People invest their surplus capital in the business enterprises in order to get profit. The different companies provide the chances to the public to invest in shares and debentures issued by them.

The business units also provide employment opportunities to the public. When a business is established, it provides employment to the investor himself and also offers employment to large number of workers.

The business units help in improving the living standard of the people. The business provides jobs to the people to raise their income. When the people do job they earn more money and spend more.