Yup
A week ago yesterday, I quit my job with a company run by precisely that sort of individual. "Drop everything to do this" means nothing gets done. Certainly nothing gets done right: it's haphazard, sloppy, and often needs to be done over -- to the detriment, if not the utter destruction, of the profit margin. Couple that with the blame factor becoming, at times, genuinely abusive... it's no wonder the turnover is so high in the position I held.