philips, strive to make the world healthier and more sustainable through innovation.the goal is to improve the lives of 3 billion people a year by its regularity of dealings.explain

Dear student, 
In the given statement social objective of business is explained. It is given that the company works towards sustainable production and works towards the welfare. This describes the social objectives of business. 

In addition the economic objective is also described in the sense that the company strives to maintain regularity in dealings with the customers.