No company can function successfully in an informal environment. The companies claiming they provide great working environments and boost staff morale simply use a few aspects to market itself to the public, but the s**t happens behind the scenes.
Furthermore, staff morale and working environments are something employees focus on and desire and is not something companies agree with.
Informal attitudes / relationships between management and staff never worked before and never will work in future. Allowing staff to work the hours they want has never worked before and never will. Providing staff with too many benefits has also never worked and often leads to a greater loss.
So, leave "great staff morale building" and "pleasant working environments" dreams to those who cannot start their own businesses and has to rely on someone else to provide.