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Profits as the Basis of Strategy

In: Topics of Family Business Governance

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  • Hermut Kormann

    (Zeppelin University)

Abstract

It is a mandatory element of the monitoring function of governance to review the profitability. Not only the profitability of the whole enterprise but also of its individual business segments. This review is essential both when the overall profitability is excellent as well as when it is insufficient. Without knowing the root causes of good profitability the board would not know which key conditions need to be met in order to continue the high profitability. Thus, in good as well as in bad times, profits are of the essence. Let us review what the key issues are in such a monitoring process.

Suggested Citation

  • Hermut Kormann, 2021. "Profits as the Basis of Strategy," Management for Professionals, in: Hermut Kormann & Birgit Suberg (ed.), Topics of Family Business Governance, edition 1, pages 67-70, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-58019-3_13
    DOI: 10.1007/978-3-030-58019-3_13
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