Human considerations of business
Though material resources and monetary factors form the basis of business, nothing can be achieved without labour. The precious human element in the business has to be looked upon with greatest considerations. This is another objective of business.
The workers have to be rewarded well for their work and dignity of labour has to be recognised. The latent talents and aspirations of labourers should be recognised. The potentials of the workers should be rightly tapped and should be rewarded with fair wages and material incentives. This in turn motivates them to bring out their best and helps in the prosperity of business.
Workers should not be treated as inferiors. They should be living in an environment, where they can identify themselves completely. There should be utmost co-operation between management and workers, so that they do their jobs willingly.
As Prof. Elton Mayo said humanistic attitude makes life more fun for the workers and their job more meaningful. Hence, a sense of self importance among the workers has to be created by the businessman, by being fair in their administration and giving them, what they deserve. After all, the making of a product lies in the hands of the labourer.
The lives of the workers must be given meaning and dignity on and off job. This gives them a sense of security economically, psychologically and morally.
To sum up, the following are the objectives of the business:
- i) Earning of profits.
- ii) Creation of market.
iii) Making innovations to meet the ever changing trends.
- iv) Providing employment.
- v) Producing articles of standard quality.
- vi) Charging reasonable prices.
vii) Ensuring a reasonable remuneration and good working conditions to the employees in the business undertaking.
