Why is profitability alone not an adequate measure of a projects value to an organization?

When identifying the potential of projects, we look atthe yield the best use of human and capital resources to maximize return on investment in the long run, but we need to consider nonfinancial criteria such as researching new technology, public image, ethical position, protection of the environment, core competencies, and strategic fit. Unfortunately, pure financial models fail to include many projects where financial return is impossible to measure and/or other factors are vital to the accept or reject decision.