It’s been the downfall of many companies, and in this case, has resulted in the unnecessary death of many individuals.
Boeing is currently in the spotlight, but there are so many other companies - ranging from pharma to agriculture to tech, that also adhere to the above mantra and have been the cause of much death and destruction.
You can’t blame individuals, nor the companies here. The system they operate in requires them to report quarterly; with a priority on short term performance over a longer term outlook (it exists, but not overtly so). When you don’t meet those short term goals, both individuals (employee reviews, getting laid off etc) and the company (value on the public or private market) suffers.
I don’t know if there is a “fix”, or if it needs fixing at all, as our rapid progress is also down to this competitive and unforgiving environment.