We’ve all witnessed it – companies who maximize their profit at all expense – regardless of the potential consequences. No matter what anyone says, maximizing profits should not be any company’s highest priority. While it’s a vital lifeline within any company, often times it’s maximized at the expense of increased potential for long term success.
Because this article will touch on a number of real life instances, I will refrain from using these companies’ names to protect their identities.
After I publish this article, I fully expect a number of my trusted partners, colleagues and clients to call me, I know that I’ll hit a chord and well… the truth always hurts. So here are the most common scenarios where focusing on the maximization of profits tend to erode a company’s potential for long-term success.