what are the alternative objectives of a bussiness firm (non-financial objectives of a firm)?

[Johnbosco Enemuo]

[Amazing]

A business may have important
non-financial objectives which will
limit the achievement of financial
objectives. Examples of these are
summarised below:
Welfare of employees
The provision of employee welfare
is an important objective; this
relates to issues such as wages &
salaries; comfortable and safe
working conditions, training and
development; pensions etc. The
value of many businesses is
critically-dependent on attracting
and retaining high quality
employees – which makes managing
the welfare of such people even
more important.

Welfare of management
Management can, and do set
objectives which are essentially
about their own welfare. These
include objectives in relation to pay
and conditions.
Relationships with Suppliers
Responsibilities to suppliers are
expressed mainly in terms of
trading relationships. Large
businesses often have considerable
buying power over their suppliers –
which should be used with care.
Supplier objectives would include
those relating to the timing of
payment and other terms of trade.
Responsibilities to Society
Businesses increasingly aware of
their overall responsibility to
society at large. The term that is
often used is Corporate Social
Responsibility. This includes a
business complying with relevant
laws and regulations (e.g. health
and safety), minimising harmfulv
externalities (such as pollution).

Employee Engagement and
Satisfaction
Focusing on employee satisfaction
allows you to create a workforce of
engaged, loyal employees. With
increased employee morale often
comes better attendance and
effort. By aiming to improve the
workplace for your employees, you
show them that you care about
more than simply making money.
Specific objectives related to
employee satisfaction include
giving staff greater responsibility,
rewarding exceptional work,
creating a positive work
environment, promoting teamwork
and communicating openly with
your employees.

Quality
The quality of work produced by
your company affects your
reputation and amount of business
you receive. Whether you sell a
product or a service, you want
every sale from your company to
be top-notch. Consistency is
another key factor in the quality of
a company. When you offer
consistently high-quality products
or services, your company gains a
positive reputation that potentially
leads to more business and repeat
customers. Create standards for
the items you produce or sell.
Establish guidelines for the services
you provide, particularly if you
have multiple employees providing
the service.

Customer Service
Along with a quality product or
service, aim to provide your
customers with a positive
experience every time they interact
with your business. Making your
customers feel valued encourages
them to give your company
additional business in the future.
Improved customer service is
possible through employee training
and high expectations. Monitor
your employees' interactions with
customers. Surveys and informal
conversations with employees help
you assess the level of customer
service you currently provide and
areas in need of improvement.

Public Relations.
Another non-financial area for
goals is your company's public
image. Improving the way the
general public views your companyb
can mean increased business and
stronger relationships with the
community. Potential objectives
include to maintain a professional
image, establish a positive social
media presence and give back to
the community. Donating time and
money to charitable organizations
helps establish your company as a
fixture in the community.