The problem of unqualified people responsible for making decision is not limited to software companies.
A misconception that can cause this is the belief that people are interchangeable. Sure, smart people can learn to play almost any role. But, practically, someone learning a role will make more mistakes and take longer than someone who already has some success in that role.
This attitude frequently comes from the top, since plenty of MBA types are convinced that a good manager can manage any company, whether it's producing software or sugar water.
A misconception that can cause this is the belief that people are interchangeable. Sure, smart people can learn to play almost any role. But, practically, someone learning a role will make more mistakes and take longer than someone who already has some success in that role.