Profits, after all, are the engine that drives the world of commerce. Any idiot knows that.
Unfortunately, idiots who do know that go out of business all the time. The US auto industry, integrated steel giants and many others who failed were extremely profit driven and, in fact, it was their quest for profits that was their undoing.
That’s because making money means nothing without competitive advantage. Companies who chase opportunities in the name of profitability often find they can’t compete, while others, like Wal-Mart, Southwest Airlines and Nucor are able to be consistently profitable in tough industries with thin margins. Profits aren’t what always what they seem.