Strategy is better than skill. This is true in combat, but it is also true in business. Management ineptitude is not a guarantee of failure. Some businesses have a strategic position so superior that they can survive despite inferior practices.
In my own group, we have placed a high value on management. We want to see excellence across all of our processes. Still, this is not enough. Strategy is better than skill. Being the best at what we do is not a guarantee of first position. Improving our performance is not enough. We need to seize superior strategic positions.