These people lie. Constantly. Management has no idea of what they are doing, how to manage people, companies and everything in between. I have no idea how these managers got to the place. The product is not developed very quickly: new features are decided by those who are out of touch with customers so might not really fit where the industry is leaning. Lack of development in the product makes it less competitive in a very crowded space. Person who is in charge of the IT team doesn't know anything about the product design, but he decides about each tiny detail.