I have often used these terms to describe businesses: as wonder (just starting with owner making wages), blunder (lots of work but little control and money), thunder (very profitable and driving the market) and plunder (aging with old systems and management).
In many ways the “plunder” business is the hardest to turn around, as it is dying a slow death. Many plunder businesses are an organization of people who are a little fat and happy. Often, there is cash in the business and credit with the bank. Having no cash pain can postpone necessary changes. Since the business is capitalized with many long-term employees, change involves pain, which in many cases, the organization is not used to dealing with. I’m not a slash and burn MBA-type and value longevity and loyalty, but I do believe in holding people accountable and staying competitive.