Why was the Munich conference unsuccessful?

Munich Conference 1938. Actually a preoccupied and unprepared (for war) Soviet Union wanted to broker a Peace Accord. France and Germany along with the Soviet Union attended the meeting. Britain and France, also unprepared for war, capitulated to Nazi Germany's desire allowing Czechoslovakia to be partitioned. The Nazis would be (the only regime) successful in this conference. Basically, it was the lack of preparedness of the Soviet Union, France and Britain which caused the conference to be unsuccessful from the allies' perspective