Source: EconLog
by Dennis Murphy
“In many industries, but aviation in particular, a stellar safety record is a competitive advantage. In High Reliability Organizations (HRO), such as airlines, safety is paramount to the success of the organization. After all, a single accident, regardless of how rare an occurrence it is, could yield a catastrophic result, either in terms of cost of lives or liability. Indeed, the primary, secondary, and tertiary victims are not the ones who made the unsafe decision but are left to bear the brunt of the result. Airlines, manufacturers, and their labor representation groups spend millions of dollars each year researching and developing safety protocols and procedures. … With effective safety protocols so high on the list of things that affect an organization’s health, it would follow that they would be closely-guarded industrial secrets. Except they are not.” (05/03/24)