The majority of businesses fail because they do not invest in proper training. After employees join their company the first thing their manager tells them is to learn on-the-job.
So the person talks to everyone they can get hold of to try an learn the ropes - and there is some benefit to learning from those who have the experience already; who have been there and done it - but that is no substitue for professional training. Especially in the project management field which is fast becoming a modern day profession as organisations increasingly work in a project focused way.
Unfortunately, this type of "on-the-job" training will only work for so long. One of the biggest mistakes companies make is not properly teaching their project managers how to actually manage projects effectively and consistently for successful outcomes using proven methods such as those from the Association for Project Management (APM) or the Project Management Institute (PMI) or the UK-Government developed PRINCE2 approach. These are PM methods that have a range of professional qualifications and accreditations associated with them that are internationally recognised and respected - and for good reason. Qualified project managers are proven to deliver more successful projects more often.
If you are planning projects for your organisation you need project managers who have studied and learnt best practises the have been refined over the years. And that knowledge is often not available within a single organisation. So whether you opt for APMP training, the PMP certification or PRINCE2 for your project managers they will be more adept and managing and controlling your projects and communicating with clinets and stakeholders.
Would your business change if you had well-quaified project managers using best-practise methods that were more likley to result in successful final deliverables? I bet it would be more successful - better meeting the needs of your clients.