Lessons from the RMS Titanic

It has been a hundred years since the RMS Titanic struck an iceberg and sank with the loss of 1,514 souls while on its maiden voyage crossing the Atlantic Ocean. The tragedy was one of the deadliest peacetime maritime disasters in history. Over the years inquiries have been held, books written and movies made about the sinking of the Titanic. To this day new evidence continues to emerge that sheds new light on the cascading series of events that contributed to design flaws, errors of judgment and failure of the British regulatory system.

In revisiting the sinking of the Titanic it is understandable that we get caught up in the human drama and suffering that resulted but of greater importance is the analysis of what went wrong that is crucial to placing corrective measures in place to avoid a repeat of such a catastrophe.

Beginning with the design of the ship and its imperfect watertight compartments to its inadequate provision for lifeboats and its speed there was more than enough blame to go around. The magnitude of the human drama coupled with sensationalism and fictionalized accounts as well as deliberate attempts to withhold key evidence has created an imperfect perspective of what went wrong with various observers apportioning blame in a way that would justify their own personal agendas.

Only now in the centenary year of the Titanic’s sinking are fresh details and new perspectives coming to light about the many factors that led to its plunge to the bottom of the ocean. Details that might well have contributed to an earlier improvement in planning, maritime safety and management systems. One striking example is the fact that though the lifeboat capacity was woefully inadequate for the passengers and crew of the 40,000 ton vessel, the ship was in compliance with the Board of Trade’s regulations for lifeboats on ships that were over 10,000 tons. The regulations were issued 20 years before the Titanic was built and had not been reviewed in the light of advances in shipbuilding technology.

We could learn a thing or two from the sinking of the Titanic in Barbados where the collapse of Clico is still shrouded in fog and the regulatory response has moved like molasses. Similarly there is a curious lack of investigation into the causes for the collapse of the Four Seasons venture and now the implosion of Almond Beach Resort.

Instead we are being served up with a serried of human interest stories that speak to the loss of jobs and a reduction of our capacity to serve the hospitality industry. It is time that we review these several events to determine if there were fundamental design flaws and problems with the business process implementation. We should query if the and the human resources employed to achieve the business goals were adequate as well as analyze the many factors that add cost to doing business in Barbados; and they are legion.

Unless we do this it is impossible to develop significant corrective action to improve the effectiveness of the business community in meeting demand and generating meaningful employment. Corporate welfare is not the answer and ignoring the economic icebergs may well imperil the ship of state.

phillip.goddard@braggadax.com