Pros
The company increase profits each year despite themselves - meaning job security is very good in the short term. The chances of being terminated are lower than you personally deciding to leave. Enough people in the organization who still care enough to exert themselves. Pioneer maintained a level of autonomy from it's parent company during DuPont's most recent profit slide.
Cons
Like an ocean liner, it has momentum, but cannot easily change course (even when icebergs appear). Lack of global competition gives management a false sense of security and detachment from its most valuable asset – the people “on the floor” doing the work. Because of the effort required to change - processes take precedence over reasoning ability and/or common sense. Being DuPont owned, the existing pros are slowly being eroded.