and I've always wondered why a lot of them are run so badly?
For exactly the same reason a lot of small businesses are badly run. They are formed by people who do what the company does but don't know how to run the company. The "other 'arf" (usually a wife) is roped in to do the office work and has to learn as she goes along. They can't afford proper advice so muddle along with fire-fighting being their best crisis management strategy.
Cheers
Whirls