A solid strategic vision, management accountability, management cohesion and employee communications are significantly lacking. The CEO has a heart of gold and wants the best for his employees, although the execution of this vision just somehow doesn't translate. Talented employees are overloaded and receive little recognition for their work while others skate by with little to no accountability. Employee feedback is commonly sought, which is a really positive thing. However, the meat and potatoes of what is done with this information, commonly bringing to light big problem areas are never addressed.
If management can pull together to come up with a common vision, hold each other accountable and can engage employees, there is a lot this company couldn't do. Employee and management concerns cannot be ignored, especially if you are actively seeking feedback to make the company better. Problems aren't easy to accept but if you can turn them into improvements, your employees will be happier and your customers will be better served.