I am personally not a big fan of the competency crisis theme. A proper evaluation would demand that you know a lot, too much actually. Unless you are literally driving a task force of people to do a study on it. The book "Material World: A Substantial Story of Our Past and Future" actually goes into various materials and how complex those processes are. Nearly nobody that does process 1 of product X knows how process 2, 3, 4 and so on actually works. Yet the finished products do arrive.
The competency crisis seems to always come from a single article by an author that, as far as I can remember, works in asset managemant. One industry and service that is losing to dumb index funds in the famous active vs. passive debate. That always struck with me as very ironic.
Now there are some aspects that might go into it with the actual blame for businesses. One would be the financialisation of the US economy, if that is a proper English world. Instead of investments within the company, you just do a share buyback program. Thus the share price increases and your leadership of the company is "successful". This doesn't lead to better products or even innovation.
The other factor is that you can save money by cutting costs. Which includes a lot of positions that are vital in the longterm. R&D for example. Or training. Or you can run a company on it's substance and try to get as much money out before it collpases.
The books "The Man Who Broke Capitalism: How Jack Welch Gutted the Heartland and Crushed the Soul of Corporate America―and How to Undo His Legacy" and "Power Failure: The Rise and Fall of an American Icon" go into that topic with much more detail. This is important since Jack Welsh was spreading his mangement style to various now CEOs. Some were or are now in companies that are curiously plagued by similar issues like GE. One example would be Boeing.