profit maximization can't be the sole objective of a business firm . Justify

Generally, the main objective of any business is to earn higher profits. But, this cannot be the only objective as the business needs to cater the demands and requirements of the various parties who are interested in the business. Therefore, the business needs to focus on the performance of each and every area for survival in the market. For this, there should be other objectives such as fulfilment of social responsibility, innovations, efficient use of natural resources, etc. Thus, it can be said that the business needs the multiple objectives. This topic is covered in our NCERT solutions. You can refer to the same following the below mentioned path.
NCERT solutions- Chapter 1 (named as 'Nature and Purpose of Business')- Long answer- ques 5

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