Vantaggi
Speaking as part of the management team, I can say we have THE BEST TEAM of people, period. Never in the history of our organization have we had such amazing flow and interaction between team members, departments, and management. We have stressful periods where everyone works hard and pitches in, but at the end of the day, everyone's happy and creates a great environment. Feedback is encouraged, and everyone has realized now that their feedback is well-received and not ignored. We've made a LOT of changes in the last few years, in terms of people, processes and tools, and the feedback we've gotten from our team has been great. People hang out together, go to lunch together, share a sense of humor and work collaboratively. Individual (personal and professional) and team goals are recognized and celebrated en mass! Collectively, we've spent a lot of energy building corporate culture in the last year or so, and it's been worth every nanosecond of extra thought and time to make that happen.
Svantaggi
We have our quirks. We're not perfect, and our processes aren't perfect (yet), but the team members contribute heavily now to everything from running meetings to participating in strategy planning. The only real "con" is that we didn't start it sooner.