My wife gave up and retired from her professor job when she got a decent buyout. I doubt that was expected; they have tried to get her to come back, but if you want an extreme example of completely fouled up top management, higher education is the place to look. What they did with that was persuade their best to leave, which did cut their labor costs, but also cut the quality of their work force. Her experience with the kids coming in from high schools was frustrating. The new students were not good in the 90s, and dropped within 20 years to awful. Completely unprepared.
I used to grump about elitist lawyers, and now I is one. The quality of the people coming out of law school is abysmal, mostly because the quality of those entering is awful. Really. The garbage I see in legal writing is scary bad. Appellate briefs are even worse. (And my sources on appellate courts tell me that the civil lawyers are even worse than the prosecutors and defense lawyers. What I see in reading the new cases is consistent.) See a pattern?
A lot of places are infested with semi educated buffoons with MBAs. Many of them haven't the technical knowledge needed to perform the job, let one critique it, so we get asinine ideas like "just in time", which only works under perfect circumstances and is causing havoc all over now. It looks worse in Europe now, but there are examples in the US that are really bad. Try to get a class 8 truck serviced and have even a slight problem fixed, and find out that many parts are 30 days out, if one is lucky. I got a recall on my car in early March; they hope to have parts in May.
Boeing is a major league dumpster fire. Some of the stuff they have screwed up is only possible because they don't value the hard core engineers who made them what they were. The medical insurance company I had until this year messed up my coverage, approving surgery for peritoneal dialysis, and then refusing to cover the dialysis. It took a couple of relatively harsh communications, both written and verbal to get that fixed, and then they denied coverage for the same thing again a month later. I may have been insulting and caustic the first time. I damned sure was the second.
The tolerance of poor performance is overwhelming. "Idiocracy" was supposed to be a comedy, but in reality is turning into a documentary.