ECONOMICS

Detailed explanation-1: -One of the most useful indicators of organizational effectiveness is how well an organization meets its goals. Measuring organizational performance can be accomplished by: Comparing actual achievements against set goals. Comparing the projected aims, such as profit and innovation, against actual results.

Detailed explanation-2: -The principal objective of any company must be to use material and human resources to the maximum potential benefit, i.e., to meet the financial objectives of a firm. And, they are survival, profit and growth. Survival: The essential objectives of any industry is survival.

Detailed explanation-3: -There are three types of organizational goals: individual, team, and corporate. With these goals, they all have specific time frames for achievement. In many cases, those goals have longer time frames than others.

Detailed explanation-4: -The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business. Survival: The basic objective of any business is survival. In order to survive, an organization must earn enough revenues to cover costs.