Pros

Chance to be involved with a very useful and continually advancing product. Assuming one completes projects with average to good results, there is a reasonable level of security and morale. The atmosphere is generally very professional, while at the same time the dress code is casual. It's not a stuffy place to work.

Cons

Changes to processes pushed through without thorough review and anticipation of consequences. Reaping of rewards tends to be highly concentrated among top 0.01 % of personnel. Poorly defined expectations and unrealistic schedules often mean sacrificing quality. Changing suppliers or constant quibbling about minor pricing issues leads to un-necessary declines in productivity.

Advice to Senior Management

Reign in some of those newly-MBA-ed but little-experienced wunderkinds before they gee-whiz you into an entrepreneurially coked-out wonderland. Share more of the success of the company with those who get things done, not just those who crunch numbers and analyze results.