Micromanagement, Bureaucracy, Office Politics, and Red Tape
Pros
Very structured, slow moving environment, where everyone is convinced to give their engagement before any project moves forward. Heavy on meetings for those that like to speak excessively.
Cons
All growth is accomplished through acquisitions of smaller companies having the desired functional area/clients with little or no investing in training or growth of existing staff / structure. Most managers seem to be generic project managers (usually PMP certified) who know little or nothing about those they manage. Temp contractors are used extensively and usually paid far more than permanent employees. Bureaucracy and silo-ed teams ensure no task is accomplished quickly, efficiently, or properly. Total meeting duration runs greater than 1M hours annually across the enterprise (as displayed by the Time-tracking systems).