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To share some personal ecerepxnie   I worked in several R&D design centers for  semiconductor manufacturers. The story is often the same. To increase profits, they pursued one basic strategy   cut costs or get the government to pay for it. Mostly the cheapskates focused on cutting costs. Often these guys were determined street fighters when it came to cutting costs. I'll focus on one anonymous company. An internal audit revealed that it cost ~$150 to get a purchase req approved for a $20 item. Just plain insanity. These guys went on a spree (in the mid to late '90 s) opening design centers in emerging-market nations. They (senior management) would brow beat the American design centers about cost overruns and delayed product introduction while refusing to provide the resources needed for project success. When the situation became critical (i.e., too late to smoothly effect the outcome) they would approve personnel req's or capital PR's and say  get what you need   fast!  My team and I would update PR's, ingest resumes, schedule interviews, and frantically follow an established, efficient, structured process to fill the skill and resource holes that existed. ne or to weeks later, now prepared to place orders or extend employment offers, the req's were cancelled:  sales forecasts don't look good for the quarter   we've got to cut costs.  I began calling it the  now you see it, now you don't  phenomenon (just magic!). I lost count of  how many times I went through this dance. It is classic project mismanagement and it doesn't make much business sense either. The products designed in the American design centers contained few defects and even though there was an urgent demand to complete designs on schedule, the C-level executives continued to move design projects overseas. They didn't seem to mind that the delivery schedules slipped in those centers by a factor of 3, or that design defects increased by a factor of 10. They were only paying the overseas designers 1/5th what they paid US designers and figured they could afford to redo the designs several times to reach  acceptable  quality (apparently liability issues were dismissed too) . Many (I think most) of the American design centers have since been sold to overseas multinational corporations or eliminated entirely.When I joined the company, the CEO set an ambitious goal to triple sales, market share and profitability within 5 years. It is now 10 years past that target date. Want to know how the company is doing?  Their revenue (sales) is only 50% higher than when I first joined (it was about 250% higher at the height of the dot-com bust). The profit margins are stable   about what they were when I joined. However, their competitors continue to crush them with regard to market share they continue to lose ground. Anyone consider this a success story? And that's one of the reasons the US is in trouble. It's not self-interest   it's blind ambition and selfishness. It's lack of vision, courage, and virtue. I don't care how many certificates or degrees a person possesses, without wisdom and integrity, disaster ensues. It's a lesson for the C-level executives and all hiring managers in tech industries.