Why Boeing needs to be run by engineers and not bean counters
Really insightful video about what has gone wrong.
Among the points Casey makes is that Boeing imported Jack Welch’s GE management culture.
This has included a focus on short-term profits over engineering, and practises such as stack ranking.
Boeing, as a major defence contractor and (direct and indirect) employer, is too big to fail.
And Casey argues that either the Board or, if they’re unwilling, the US government, needs to clear out the senior management and introduce an engineer-led management team:
https://youtu.be/d3u7F256wKM?si=1D5MNSQ2EyLvRmL-
#Boeing #engineer #engineering @engineering #capitalism #business #finance #politics
This is true for EVERY industry. Ever wonder why there’s not much local investigative journalism anymore? Because news people don’t run news stations. Wonder why it’s mostly sequels in video games and movies? Because game designers and directors/writers don’t run those studios. Wonder why medicine costs so much? Or why food sizes are shrinking? Or ……
The answer is unfettered capitalism.
Amen to that. Bean counters and MBAs (yeah, I know, I’m repeating myself) ruin everything they touch, blindly chasing constant rapid growth. But the line DOESN’T have to keep going up forever. I wish more companies operated based on that premise. You DON’T need to monopolize the market, you DON’T need to exceed your quarterly profits every single quarter until the heat death of the universe, there IS such thing as enough money…
I wish I lived in a world like that. It might be slightly less convenient, maybe with slightly fewer choices, but I think it would be a much happier place.
What we’re seeing now is one of Gandhi’s dangers of the modern world: commerce without morality. Blame Milton Friedman.
Capitalism is about unrestricted access to economic activity for everyone. What we have currently is regulatory capture. Unfortunately we haven’t devised any economic system yet which can withstand the test of time. Even the founding fathers knew when they created America that it would definitely be corrupted eventually.
The founding fathers started a bourgeois revolution. It was never supposed to be for everyone, despite the colorful we the people rhetoric.