Q.Two ambitious friends, Sana and Mihir, having passion for creating innovative software applications, established a tech startup named ‘Quick Solutions’. Their software was developed in such a way that it caters to the needs of all sections. Since its inception, ‘Quick Solutions’ was earning enough revenue to cover the costs. They faced countless challenges from competing with large and well-established companies. But they learned from their mistakes and continuously improved their product. Slowly, their software gained recognition for its quality and uniqueness and the company started making profits. It was a big incentive for Sana and Mihir for the continued successful operation of the enterprise. Within two years, the customer base increased manifold. Now, Sana and Mihir decided to make additional capital investment and hired more employees. They invested in research and development and expanded their product line to meet emerging market demands. ‘Quick Solutions’ ultimately became the industry leader because of the tireless efforts of Sana and Mihir. Quoting lines, identify and state the objectives of management discussed in the above case which ‘Quick Solutions’ seeks to achieve.
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Start your 14-day free trial to unlock the full solution →The case highlights the three organisational objectives of management — survival, profit and growth — that ‘Quick Solutions’ seeks to achieve through effective planning, resource allocation and continuous improvement.
The question asks you to identify the objectives of management from the given case study. Management objectives are the goals that an organisation aims to achieve through its managerial functions. They are broadly classified into three categories: organisational objectives (survival, profit, growth), social objectives (benefiting society), and personal objectives (satisfying employees’ needs). The case of ‘Quick Solutions’ centres on the organisational objectives, so those are the ones we identify and support with lines from the passage.
Let’s go through the case step by step and extract the relevant lines that point to each objective.
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Survival – The most basic objective of any business is to survive in the market. The case mentions: “Since its inception, ‘Quick Solutions’ was earning enough revenue to cover the costs.” This shows that the company managed to stay afloat by covering its costs, which is the essence of survival. Later, “They faced countless challenges from competing with large and well-established companies. But they learned from their mistakes and continuously improved their product.” This demonstrates how they adapted to survive against competition.
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Profit – Profit is essential for a business to cover its risks and to keep operating. The case states: “Slowly, their software gained recognition for its quality and uniqueness and the company started making profits.” This directly indicates that profit was an objective achieved through quality and uniqueness. The line “It was a big incentive for Sana and Mihir for the continued successful operation of the enterprise” reinforces the same objective — here profit is described as the incentive that keeps the enterprise running, not as a separate personal goal.
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Growth – Growth means expanding the scale of operations, customer base, or product line. The case provides several lines: “Within two years, the customer base increased manifold.” and “Sana and Mihir decided to make additional capital investment and hired more employees. They invested in research and development and expanded their product line to meet emerging market demands.” These clearly show the objective of growth—increasing customers, capital, employees, and product range. …
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