One of the symptoms of a losing streak is a turnover of top executives. It's a revolving door.
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Business requires understanding financial matters, but management is different from running the financial aspects of the business - it requires understanding complex systems, how they operate, the nature of organisations, what happens when people interact in groups and how to motivate and guide people.
Organizational structures that allow divisions and departments to own their turf and people with long tenure to take root creates the same hardened group distinctions as Congressional redistricting to produce homogeneous voting blocs - all of which makes it easier to resist compromise, let alone collaboration.
Some social scientists say that in-group/out-group biases are hard-wired into the human brain. Even without overt prejudice, it is cognitively convenient for people to sort items into categories and respond based on what is usually associated with those categories: a form of statistical discrimination, playing the odds.