Pros
If employees brown-nose management, they can basically do anything they want. If you are a slow-worker, a gossip and are mediocre, but can trick management into thinking you know things, you will go far in this company. You don't need much experience, just a good presentation at interviews.
Cons
Twice the work for hard workers, no evaluations by management, no HR, no people skills, lots of screaming, micromanagement. Terribly unprofessional higher-ups tend to have talks about employees including backhanded comments over workplace chat instead of having face-to-face meetings including correct language. Inappropriate language when there's a lot of tension in the office and there's always tension. Some are treated as "the help". Some people in management tend to create chaos because they have problems organizing themselves and they project these worries as emergency situations for employees. Not accepting of people that are different, even though it's one of their catch phrases.
