Comment by PedroBatista

"In most organizations, knowledge increases as you go up the hierarchy. CEOs understand their business better than middle managers. "

I chuckled on this one.

I'll give the author the benefit of the doubt and imagine he's was referring to the act of running a "business"/agenda in parallel of the business that is conducted day by day by normal people.

Yes, employees and managers can be doing the business of selling paper while the CEO is conducting the business of inflating the stock and massaging the numbers in order to fulfill the objective the board told him privately because the owner wants to sell the business to buy a bigger boat and buy a nice apartment in NYC for his angel of a daughter.