Looking at rear view mirror is as important Sirs!!

I was reading this Mint interview of BSE ‘s new Chief Madhu Kannan. It is a pretty interesting interview telling you about stock exchanges as a business. On one of the Qs he says:

Why is BSE a laggard?
You have got to go back and look at what are the key drivers to making an exchange a successful entity. Innovation is a key point. And very closely linked to it is—you have got to be talking to your customers. You have got to understand what is going on, what your customers want, to be able to be responsive.
The exchange business is a very interesting business. It has got the elements of a technology company; it has got the elements of a regulatory entity; and you also have got to get very close to the customers.
I don’t want to run this car by looking at the rear-view (mirror). You’ve to look forward. I think, maybe, a better question is what are the issues I am focusing on as part of our strategy.
I read this rear view mirror analogy too often by CEOs (However CFOs say this). It is important to be forward looking and drive the car looking ahead. However, looking at the rear view mirror is as important as you never know what hits you from behind. History always repeats and has to be understood properly. Be it economic history or business history, it is very important.
It would be better if CEOs instead say- I would want to drive the car looking ahead but have my eyes on rear view mirror as well.

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