Question

W.r. grace recently exited one of the longest bankruptcies in history. w.r. grace was founded in 1854, but now ceo frank festa is looking to the future. why should he reflect on the history of management?

Answer 1

W.R. Grace and Company is a chemical conglomerate based on Maryland, the U.S. Chief Executive Officer Frank Festa must look into the company's management history to find out if there were managerial mistakes that lead to the organization bankruptcy. Since past action tends to be repeated in the future, that would be a great idea to spot negative trends in the upcoming years so they can start planning now how they can beat those situations.

Answer 2

Frank Festa should take time and reflect on the history of management because as they say, learn from the past or you are doomed to repeat it. He can look back on situations that the bank faced and learn to recognize similar circumstances and warning flags so he can avoid repeating mistakes and prevent the bank from falling into another bankruptcy.