- Way too many levels of management, which is in constant flux, because of the excessive reorgs this company is always going through
- reliance on sub-par, lower cost R&D teams - you get what you pay for
- Most of PTC's products are acquired as the new *shiny object* the CEO wants for company's current vision; only months later, CEO has a different vision and focus, and said newly acquired products decline
- unintelligent CEO