This is really the root of things right here. Companies structure themselves in a way - budget cycles, guidance to the stock markets, etc. - that makes it impossible for them to pivot quickly. It's much easier to go to the board and say "we failed" at the end of the year than to go to the board mid-year and say "we are failing, this is what we did wrong, this is what we did right, this is the path with think that will get us to the goal".

This is why companies like Tesla and Meta who have a single shareholder who dominates the company are able to make such rapid and hard changes to strategy, and most other companies can't.

It is very difficult to have both strong strategy and oversight, and flexibility. Not because one necessarily preclude the other, but because human nature makes it hard for people to be flexible while someone else is double checking their work and scrutinizing them.

J.Ja