Cisco

Good benefits, lots of smart people, still a major player in most industries.

Cisco's biggest competitor tends to be Cisco. Internal politics are often mystifying, with a tendency toward monoculture.

A lot of executive management decisions about product/market direction are short-sighted. There's a running cycle of over-hyping products with poor initial quality, and then when said product actually stabilizes and becomes accepted, a new over-hyped/under-developed product is introduced to render the original product obsolete.

Failures in this regard end up driving the need for external acquisitions, at the cost of developing internal R&D capabilities. Truly investing in a capability for ongoing research frequently won't provide short-term benefit, but will almost always win in the long term.