Pros
No thought required, just react and point the first finger and you will go far. If you like charts and graphs and meaningless metrics to manipulate, then this is your calling.
Cons
Where to begin. The list is almost endless between the croniism and the purely reactionary work environment. Most upper level positions are recruited externally, often from personal relations, instead of developing from within. Leadership is non-existent, just management by individuals with little to no real world experience or ability. Employee morale is at it's lowest and management is not even aware -- that would require stepping out of one's office and actually getting involved. Or perhaps, since morale is not a metric, they do not care. This should be enough to paint the picture.