Chapter 3. Strategies for Sustainable Effectiveness
For much of its existence, but especially over the fourteen-year span between 1982 and 1996, the WR Grace Corporation was widely admired. It engineered a number of acquisitions and assembled an impressive portfolio of specialty chemical businesses. Grace returned over 500 percent to investors during that period, but was it an effective organization?
According to traditional financial measures it was. WR Grace effectively pursued the goal of maximizing shareholder return. But those who have watched the film A Civil Action or read about the asbestos-related lawsuits that drove the firm into bankruptcy know there is more to the WR Grace story than just a period of successful financial performance. ...
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