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Concept Maps

Objectives of Business — Concept Maps

ICSE · Class 11 · Commerce

4 concept maps of Objectives of Business for ICSE Class 11 Commerce, each also written out as a text outline. Part of the ICSE Class 11 Commerce syllabus.

38 questions34 flashcards5 concepts

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4 Concept Maps

Objectives of Business — Complete Overview

Objectives of Business — Complete Overview

The map in words

  • Objectives of Business
    • Economic Objectives
      • Earning Profit
        • Reward for Risk
        • Measure of Success
        • Source of Finance
      • Creating Customers
        • Advertising
        • Quality Service
      • Utilisation of Resources
        • Labour
        • Machines
        • Materials
      • Innovation
        • Research and Development
        • New Products
        • New Methods
      • Satisfying Human Needs
        • Goods
        • Services
    • Social Objectives
      • Quality Products
        • Fair Prices
      • Fair Trade Practices
        • No Exploitation
      • Employment Creation
        • Opportunities for All
      • Worker Relations
        • Fair Wages
        • Welfare Schemes
      • Honest Tax Payment
        • Government Revenue
    • Business as Economic Activity
      • Scarce Resources
      • Exchange of Goods
      • Creation of Utilities
        • Form Utility
        • Place Utility
        • Time Utility
      • Profit Motive
      • Human Needs

Objectives of Business - Complete Concept Map

Objectives of Business - Complete Concept Map

The map in words

  • Business Objectives
    • Economic Objectives
      • Earning Profit
      • Creating Customers
      • Resource Utilization
      • Innovation
      • Satisfying Needs
    • Social Objectives
      • Quality Products
      • Fair Pricing
      • Non-Discrimination
      • Worker Welfare
      • Employment Creation
      • Ethical Practices
      • Pay Taxes Honestly
    • Role of Profit
      • Essential for Survival
      • Incentive for Work
      • Measure of Success
      • Enables Growth
      • Not the Sole Objective
    • Profit Debate
      • Arguments for Maximization
        • Joel Dean viewpoint
      • Arguments Against Maximization
        • Drucker viewpoint
        • Causes Exploitation
      • Conclusion
        • Adequate Profit with Ethics
        • Service First Profit Next

Business as an Economic Activity - Key Components

Business as an Economic Activity - Key Components

The map in words

  • Business as Economic Activity
    • Efficient Use of Resources
      • Scarce Labor
      • Scarce Capital
      • Scarce Materials
      • Scarce Machinery
    • Exchange of Goods Services
      • Sale of Products
      • Providing Services
      • Money Generation
    • Creation of Utilities
      • Form Utility
      • Place Utility
      • Time Utility
    • Profit Motive
      • Reward for Risk
      • Personal Income
      • Business Growth
    • Satisfaction of Human Needs
      • Consumer Goods
      • Essential Services
      • Quality Products

Objectives of Business

Objectives of Business

The map in words

  • Objectives of Business
    • Business as an Economic Activity
    • Aims or Objectives of Business
    • Economic Objectives
    • Social Objectives
    • Human Objectives
    • Role of Profit in Business
    • Profit Maximisation
    • Business and Society

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Frequently Asked Questions

What are the important topics in Objectives of Business for ICSE Class 11 Commerce?
Key topics in Objectives of Business include Business as an Economic Activity, Objectives of Business, Economic Objectives of Business, Social Objectives of Business. Study these first, then practise questions on each for Class 11 exams.
What do the concept maps for Objectives of Business show?
The 4 maps show how the ideas in Objectives of Business connect: Objectives of Business — Complete Overview; Objectives of Business - Complete Concept Map. Each map is also written out as an outline on this page.
How should I revise Objectives of Business for Class 11 exams?
Learn the core ideas first, then work through the 38 practice questions on Objectives of Business. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Objectives of Business

All ICSE Class 11 Commerce Concept Maps

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