[wpietri]

And many large ones. I once worked for somebody who previously had built a $400m company. His notion was that companies should have a purpose, be up to something interesting. "Profit is just permission to continue," was something he said more than once.

The mere pursuit of profit is always fatal in the long term because it's essentially a short-term outlook that leaves you rudderless.

Look at the car industry as an example. Toyota has been consistent in its pursuit of customer value, respect for staff, and waste reduction, with profit coming way down the list of priorities. GM, on the other hand, is where the modern increase-shareholder-value school of management originated. Toyota is now the world's largest car company, and GM would have died without a government bailout.