I've been working for about 5 years now and have been in three companies. The first company (about 100 people) that hired me out of university was a VERY SMART company. There was "Vision" and "Mission" and a "Quality Statement" that most of us knew (and even believed). There were quarterly business reviews where we saw what was going on in all parts of the company. At one point, early on, the SW group realized that it's people weren't super happy, so they started to actively work on that problem. The results... they built a very open culture. Individuals were encouraged to take (calculated) risks and learn from mistakes. We adopted agile development when I was there. And a bunch of other cool stuff.

Company 2 NOT SMART. The ruthless pursuit of the quarterly numbers lead to cutting corners and looking the other way. I only stuck that place out 8 months.

Company 3 is actually satellite SW development group within Company 1. Unfortunately, the culture building & strong leadership from Company 1 didn't translate to company 3. I'd have to say Company 3 is NOT SMART, but has potential.

So my point is that a company overall can be a smart company. But within its own walls there can be some smart and not-so-smart groups.