There's another article to be written that I think has been touched on here in bits and pieces about how this can be used for evil. That is, executives, managers, and workers understand this process, but believe that a crisis is the only way to encourage any systemic planning, clear assignment of priorities to individual people who are responsible, and communication about the status of a project.

So you get a place where people do one of three things: allow foreseen disasters to come up, intentionally create disasters, or (and this is the worst) attempt to make crisis management the SOP of the organization. Which not only burns people out but also leaves the organization vulnerable to an actual disaster.