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I worked at NASCARDoesn't RecommendDisapproves of CEODoesn't RecommendDisapproves of CEO
Despite the problems in structure and culture, the motorsports industry is very interesting the work for. It is not often that you walk through your office and you run into Richard Petty in the hallway and have to point him to the restroom. Travel to the tracks is fun (in the beginning) and the live environment makes the job challenging.
Complete incompetence of middle management. If you are not a director or higher (or a close friend of one) you are not worth squat, your opinion does not matter and your skills are, by default, insignificant. I have worked with some very smart people in non-management positions and all share the same view. Cronyism is rampant within the company, leading to some very unqualified people in fairly powerful positions.
Advice to Management
Keep close tabs on your middle management layer and keep in contact with all 'regular' employees and not just the chosen few. Do not exclusively hire just MBA's for all management positions, but make sure they have the additional skillset and background required to be able to understand the department they have to manage.