The first thing we should do is define what a build is. What Danny describes in the previous quotation is important. The purpose of a build is to transform code written in any computer language into an executable binary. The end result of a software build is a collection of files that produce a product in a distributable package. In this case, package can mean a standalone application, Web service, compact disc, hotfix, or bug fix.
If you do not think it is worthwhile to spend resources on a good build process, your product will not be successful. I have been on a couple of product teams at Microsoft that have failed, and I have seen many others fail because they were not able to consistently build and test all of the product's code. I also see this at customer sites when I am reviewing their build process. The companies that have clean, crisp, reliable build and release processes are more successful than the ones with ad hoc, insufficient processes.