Whole industries get wrecked by this dynamic. I heard a story once about a well known bank. They tried to develop a new customer facing e-banking system (or was it a trading system, customer facing anyway). They started by outsourcing it to Thoughtworks, a consultancy, and those guys pushed for an agile methodology. They wanted regular feedback, iterations, etc and a contract that was essentially "keep paying us until you're happy and reach product acceptance". Non-technical management thought this sounded insane. They wanted something more like: you tell us how much it will cost and the exact day it will be complete, we pay you, it's done by that day and any delays trigger compensation. So they fired Thoughtworks and outsourced it to India.
India delivers on a fixed price contract, on time. The bank are happy. Launch day gets near. They begin loading customer data into the live system in preparation. At first things are OK but then it starts slowing down. Slower and slower. By 100+ customers the system has slowed to a crawl. Investigation shows ORM abuse to be the root cause. There's no quick fix: the developers didn't understand ORMs or data model design and the whole codebase is just FUBARd performance wise. The project has to be completely written off.
In the wake of this, said large bank becomes terrified of technology projects. They no longer want anything to do with them. They decide to buy a platform from a competitor and rebrand it. Internal execs warn that this strategy is suicidal as it ensure they can never differentiate, but the warnings go unheeded. It apparently took over a decade for the organization to recover its confidence enough to try software projects again.
You see this everywhere outside the tech sector. Non-techs can't abide technical people and the way we do things. It's low key culture war. They see tech people as weird and unreasonable (sometimes true, but not moreso than the other way around). Nerds like Star Trek and get passionate about their tools and board games and the right way to interview people, and many other things that non-tech people find baffling or sometimes outright offensive (especially hiring). Non-tech can't tell the difference between BS and not, so constantly fall for yes men and grifters who just tell them what they want to hear. Then projects randomly explode and nobody can understand why or how to stop it happening again.
One thing they will not countenance under any circumstances: learning enough tech to be able to manage technical projects. If it's ever brought up the idea will be laughed off. Programmers will learn banking/logistics/medicine/tax law/etc if necessary to understand a project, but the reverse is not true and frankly deep down that seems to scare them.
These days most non-tech orgs have given up in my experience. They just want to buy a SaaS and if it means they can't differentiate from their competitors, oh well, too bad so sad but unless a tech startup takes an interest in your line of business it's not like any of your competitors are going to do it better.