The profit maximization goal focuses mainly on increasing the amount of profit earned by a business.

It typically emphasizes short-term gains and is concerned with maximizing profits in the immediate future.

The wealth maximization goal aims to increase the overall value of the business.

It focuses on maximizing shareholders' wealth while also considering the interests of other stakeholders, such as employees, customers, and the community.

It considers the long-term implications of business decisions and focuses on sustainable value creation over time.

For example, traditional automakers aim to maximize profits quickly by prioritizing short-term financial gains.

In contrast, Tesla focused on wealth maximization through substantial investments in innovation, sustainable energy solutions, and long-term growth.

Despite facing challenges and fluctuations in profitability, Tesla's future-oriented strategy resulted in considerable growth in market share, improved brand reputation, and a more sustainable business model.

This highlights the difference between the short-term profit maximization goal of traditional automakers and the long-term value creation goal of Tesla, illustrating strategic contrasts in their approaches.