Systrom and Kreiger rebuffed all of the offers and seemed intent on building an independent company, said people familiar with their thinking.

WSJ: Facebook to Buy Instagram For $1 Billion

When process becomes more important than people, when collaboration is confused with having a meeting, when potential is held in higher regard than performance, and when independent thinking takes a backseat to conformity, leadership is dysfunctional at best.

FORBES: Why Your Organization Suffers From Leadership Dysfunction