The company is top-heavy in a way that is a bit ridiculous. The number of managers, directors and executive titles outnumber non-manager employees. Managers have little decision-making power and directors are what most companies would call managers. Working hard will get one ahead when combined with an aggressive rogue spirit, but most rise up through management by typical office posturing of non-sensical reporting, exhausting email chains and what should be obvious attempts to appear valuable. Though risk-taking is encouraged in word, fear of even small failures causes a lot of foot dragging and resistance to act. Paradoxically, when risks are taken, they tend to put a huge amount at stake and reasoning is based on gut feelings, without backup or escape plans should they fail. Basically, the company fails big and fails slowly, instead of failing small and quick on a path of steady success.
Though I was not a bottom rung employee, those on the front lines tend to receive the fallout and blame for all failures and rarely did I witness upper management own responsibility or blame in any situations. Blame always moved downward, lowering respect and ultimately trust in management over time.