
For the purposes of this discussion, we will work from the following definition of “profit”:
Revenue - Expense = Profit
Let’s turn our attention to expanding our understanding of each of the core strategies we have identified and how they relate to matters of profitability. For each, we will ask a simple question: “What impact will this strategy have on the profitability of my organization?”
All of the above are inter-related disciplines. Each discipline serves the others. A good way to look at the relationship between each is to think of the adage that “two people working in concert with one another can do the work of three.” Or, “two people working together can do more than two people working independently.”
