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Purposes Of Business Organization

Purpose of Different Types of Organization

The main purpose of existence of any business organization is to make profit. Apart from this organization has different purpose like, market share and growth etc. The purpose of the organization is stated in the mission statement of the organization. There are other organizations that may not be in existence for the purpose of making profit. For example the purpose of the Government organization is to serve the public in a best possible way while utilizing the resources in an efficient way. Similarly the purpose of non-profit organization is the well being of the people. The main purpose of the Government or non-profit organization may not be making profit but they may earn profit which can be return to the government or incurred for the well being of the society .

Description of the extent to which an organization meets the objectives of different stakeholders

The organization has different stakeholders which includes external, internal and connected stakeholder. The following is the list of stakeholders of an organization can have;

·         Shareholders – Internal 

·         Customer - Connected

·         Supplier - Connected

·         Distributers - Connected

·         Society - External

·         Government – External

The above stakeholder have objective which may be different from the objective of the organization to meet these objective they can exert influence on the organization.
 

The organizations have different stake holder whom have different objective which may be in conflict with each other. The organization has to keep in mind the objective of the different stakeholders group in deciding the objective of the organization.  For example the objective of the shareholder is to increase profit or wealth which may be divergence from the objective of the employees of good salary and allowances as these will reduce profit.

The stakeholder want to increase their wealth, suppliers has objective of getting regular order at a competitive price and employee want good working condition, The customer want the product at a competitive price.

These objective are .met by the objective if it will achieve it own objective of earning profit and growth.

Explanation of the responsibilities of an organization and the strategies employed to meet them

Organization has different responsibilities which may be called social responsibility. This responsibility includes keeping the environment healthy and unpolluted. The organization can fulfill its responsibility by making contribution to societies by doing charities and sponsoring or organizing events. The organization has also responsibility toward employees of the company to provide them good working condition and healthy environment. Similarly the organization has responsibility towards customer to provide them with the product they need. Further they are agent of the shareholder to use their money in the best possible way to generate profits.

To meet the responsibility organizations do the followings;

·         Used recycling technology or carry out environmental accounting to identify the environmental effects of its business.

·         It identified the customer need by taking feedback of the customer and make the product according to their need

·         Good Human resource policies are employed to create safe and healthy environment for the workers.

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