The Francis Scott Key Bridge collapse highlights something important: how unimportant we regard investing in infrastructure on the whole. Sure, we'll talk about it and say it's needed, but words without action lead to "wish we did something sooner" when tragedy strikes.
In the US, our infrastructure is terrible and has been for decades. We don't invest in it (aside from a recent injection from the Biden Adminstration). Don't you find it odd that as technology and time has progressed, it takes the same amount of time or longer to do any form of transportation? Because we stopped investing in infrastructure. We address the issues with band-aid solutions, not real ones. Because they cost money. And we'd rather spend it on something else.
A lot of our critical infrastructure is similarly situated. Dams in the US? Average rating as of a few years ago was a D. F is failure. And it's not like the rating has gotten better since then. You know when it's cheaper? In advance, not after the fact. Not just because of the supplies needed, but all the ancillary costs and collateral damage.
The bridge incident also highlights how not great the shipping industry is and how it will impact the supply chain. It's all a race to the bottom with quality control in the name of maximizing profits. It doesn't matter that businesses rely on them to operate and serve clients or keep their employees employed. Profits first.
We learn in fits and spurts...then forget.
We spend money on the bright shiney object first, the thing we think will have the quickest and most obvious impact. Not the things that support everything else.
Same with business owners and business continuity. I've talked to countless small businessowners who are glad to learn about business continuity and acknowledge it is important...then follow up with "but what really is the risk?"
They want to prioritize spending on marketing.
They're wrong. And they'll realize that when it's too late.
Do you know where you are in the spectrum of preparedness? Take the Business Readiness Assessment at the bottom of the home page to see how you fare.
