Most companies offer only about half of their earnings to stockholders as dividends. They often put the rest of their profits back into the operation of the business. A major motivation of executives is to expand their operations faster than their competitors. The important point, however, is that without profit over the long term no firm can survive. For growing firms in competitive markets a major indicator of executive competence is the ability to raise company earnings by increasing sales or productivity. This principle distinguishes the field of business from other fields.
大多数公司只将大约收益的一半作为红利分给股东,他们通常将赢利的其余部分再投回生意运作。经营者的主要目的是以快于其竞争音的速度扩展运作。然而有一点是很重要的:任何一个公司如果长期不赢利是无法生存的。对于在竞争的市场中不断发展的公司来讲,衡量经营者能力的标尺就是他们通过扩大销售和生产加大公司赢利的能力。这便是商业领域有别于其他领域的—条重要原则。