As a shareholder, I'd prefer it if "competing were fun...and profitable at rates that exceed my own ability to reinvest that capital elsewhere."
Sadly, most managers don't think of concepts as complex as 'opportunity cost' when making these kinds of decisions.
A company should focus its efforts on sustaining of widening its own moat. With the exception of the company's drive toward cloud computing, I'm not certain any of these efforts contribute to that greater goal.
Microsoft Gets Its Edge Back [View article]
Sadly, most managers don't think of concepts as complex as 'opportunity cost' when making these kinds of decisions.
A company should focus its efforts on sustaining of widening its own moat. With the exception of the company's drive toward cloud computing, I'm not certain any of these efforts contribute to that greater goal.