Pros
Dolby is the leader in innovation for digital broadcasting and film audio technology; if this is your passion it is an inspirational organization where one can synergize with so many of the most amazing, brilliant, and creative minds in the entire industry. The place itself is very cool and there are many fun toys to work with - building, designing, researching, inventing...
Cons
There is a real organizational problem here. The overall Corporate Values and Organizational Management schema are not aligned with the technological innovation of this corporation. It has not evolved to its potential. As technology leaders, it would be in the best interest of Dolby to maintain integrity and align their corporate values to be those of internal Leaders also, empowering their employees; however, according to Likert-Emberling Leadership Organizational Development Model, they fall short of that and are still running the organization from the "Rules and Roles" level of management. This is not beneficial to its employees nor is it to the overall environment as it inhibits the evolution of the system. Hopefully, this is a transitory state and Dolby will breakthrough and emerge the leader it has the potential it can be, but at this time, it appears to be in a devolved state of "Old School" management that needs an overhaul or it will lose the lifeblood. A corporation can not rely on product alone - sustainability is the key and Dolby just hasn't figured this out yet. Hopefully they will soon.