Discuss in brief the following objectives of business

cbse
natureofbusiness

#1

Discuss in brief the following objectives of business.
(a) Market standing (b) Innovation © Manager performance and development.


#2

(a) Market Standing It refers to the position of an enterprise in relation to its competors. To measure market standing, two things have to be taken into consideration market potential and competition.
(b) Innovation It is the introduction of new ideas or methods.
There are two kinds of innovation
(i) Innovation in product or service.
(ii) Innovation in the various skills and activities needed to supply them.
© Manager Performance and Development Business enterprises need managers to conduct and coordinate business activity. Various programmes are conducted to motivate them as to improve manager’s performance and their development is an important objective of business.