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  Financial Objective of a Business

Introduction to Financial Objective of a Business

A business is formed to improve the wealth of its owners. This might come like a surprise because there are other objectives that a business might follow that are associated to the requirements of others related with the business. For instance, a business might search for to give good working situations for its employees, or it might seek to preserve the environment for the local community. When a business may follow these aims, it is generally set up along with a view for increasing the wealth of its owners. Actually, the behaviour of businesses over time appears to be reliable with this purpose. In a market economy there are strong competitive forces at work that make sure that failure to improve owners' wealth will not be accepted for long. Competition for the funds given by the owners and competition for managers' jobs will generally mean that the owners' interests will succeed. If the managers do not give the supposed increase in ownership wealth, the owners contain the power to replace the earlier existing management team along with a new team which is more responsive to requirements of owner.

Does the meaning of this is that the requirements of other groups related with the business (employees, suppliers, customers, the community and so on) are not really significant? The reply to this question is positively no, if the business wants to prosper and survive over the longer term. Satisfying the requirements of other groups will generally be dependable with increasing the wealth of the owners over the longer term.

The significance of customers to a business could be overstated. The customers that are not satisfied will take their business to other supplier and this will, consecutively lead to a loss of wealth for the owners of the business losing the customers. A workforce that is not satisfied might result in low productivity, strikes and so forth that will consecutively have an adverse effect on owners' wealth. Likewise, a business that upsets the local community through not acceptable behaviour, like polluting the environment, might attract bad publicity, resultant in a loss of customers and heavy fines. It is significant to identify that generating wealth for the owners is not similar as seeking to maximise the profit of current year. Wealth creation is a longer-term notion that relates not only to the profit of this year but to that of future years as well. Corners can be cut and risks taken that enhance current profit at the expense of future profit in the short term.

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