Case Study Formula 1
Q1. What do you need in order to succeed in Formula One?
The case studies emphasise that all three racing teams focussed on different strategies. Their strategies changed within the environment and circumstances, but what is overwhelmingly evident is that a team needs all the elements to be in synergy and for focus to be on every aspect of the strategy. As the old adage, ‘A team is only as strong as its weakest link.” This means that in order to be successful and to maintain success, you’ve got to get all the elements right, the overall package, the budget, the designer, the engine, the drivers, the organisation and every aspect, from what is deemed most important to the least important, all play an essential part of sustaining a winning team.
The strategy employed has to be all encompassing and must definitely not rely on any one aspect only, as this has proven to be short lived, and cannot sustain long-term success.
A distinct advantage is for these racing teams to be afore with latest technology and to ensure a good relationship with its sponsors and suppliers especially the engine suppliers, as was evident with the Honda partnership in supplying engines.
Another dimension is the attitude, drive and enthusiasm of the team. Their desire to win and the extra effort they put in, not just to rely on a fast car or good driver, but also to have a focussed mindset and good inter-relationships.
2. Why do you think your team were successful during this period?
The Ferrari team was successful during this 2000 –2004 due to them changing their mindset from the conventional and adapting to the rapid advancement of technology. Even though they had the money, resources and discipline they lacked the innovation to move forward and keep up with the rest of the world with respect to technology.
By recruiting John Bernand the top technical designer and setting up the GTO plant in Guildford gave Ferrari the edge they needed. This plant focused on long term R & D
The case studies emphasise that all three racing teams focussed on different strategies. Their strategies changed within the environment and circumstances, but what is overwhelmingly evident is that a team needs all the elements to be in synergy and for focus to be on every aspect of the strategy. As the old adage, ‘A team is only as strong as its weakest link.” This means that in order to be successful and to maintain success, you’ve got to get all the elements right, the overall package, the budget, the designer, the engine, the drivers, the organisation and every aspect, from what is deemed most important to the least important, all play an essential part of sustaining a winning team.
The strategy employed has to be all encompassing and must definitely not rely on any one aspect only, as this has proven to be short lived, and cannot sustain long-term success.
A distinct advantage is for these racing teams to be afore with latest technology and to ensure a good relationship with its sponsors and suppliers especially the engine suppliers, as was evident with the Honda partnership in supplying engines.
Another dimension is the attitude, drive and enthusiasm of the team. Their desire to win and the extra effort they put in, not just to rely on a fast car or good driver, but also to have a focussed mindset and good inter-relationships.
2. Why do you think your team were successful during this period?
The Ferrari team was successful during this 2000 –2004 due to them changing their mindset from the conventional and adapting to the rapid advancement of technology. Even though they had the money, resources and discipline they lacked the innovation to move forward and keep up with the rest of the world with respect to technology.
By recruiting John Bernand the top technical designer and setting up the GTO plant in Guildford gave Ferrari the edge they needed. This plant focused on long term R & D