It's a naive point of view, I know, but I often wonder how a business could function if wages and salaries were considered to be profit. This is clear enough for an individual running a business, or even a family operation.

For larger businesses would it be possible without adopting an extreme socialist (or even communist) approach? If so, how would you balance this with the interests of investors/owners (i.e. people that aren't involved in the operation of the business)? Would the businesses be more or less sustainable on average? Does the very existence of outside investors necessitate categorising wages and salaries as a cost?