Why F1™ provides inspiration for leaders & their organizations
Insights, Tests & Inspiration from Formula One™
The powerful strategies and techniques used to drive performance in F1™ are now available to managers and their teams.
However, you don’t need to be a fan of F1™ to leverage the key principles of performance management in your organization.
1. Performance Obsession
If you want to see what it means to be obsessed with Performance, then look to F1™.
In F1™ the fastest car past the finishing line wins, but just milliseconds
separate the winner from the rest.
In such an intensely competitive
sport there is a relentless pursuit of the millisecond advantage. This
permeates all aspects of the sport and results in a radically different
approach to performance management, learning and innovation.
2. Continuous Improvement & Innovation
You would imagine that the days after a big race would be a time to unwind and relax, but it is not. As a priority, teams get together to review every aspect of performance – driver, car and team.
Continuous improvement and innovation is part of the DNA in F1™ – improving on the last lap and the last race is key to winning.
Yet, organizations where people continually discuss opportunities for improvement at a personal, team and organizational level are far from the norm.
3. Pushing the Limits
F1™ is the very definition of what it means to perform at the limit. The limit of technology, biology and physics. For example:
Gravity would dictate that a car hurtling at high speed around a 90 degree (or sharper corner) should simply fly off into the air. But F1™ cars have pioneered aerodynamics with inverted wings that keep them on the ground.
The twists and turns on the F1™ racetrack require a pattern of rapid acceleration and sudden breaking that puts incredible pressure on the F1™ car’s mechanical parts. Special materials and compounds have been devised to withstand the heat & strain.
Taking corners at high speed generates near black-out G forces. Little wonder drivers are sometimes called pilots.
It takes incredible stamina and fitness, as well as fearlessness, to race in F1™.
The job of the F1™ driver is to drive the car to the limit, no more no less. That means they always want to improve on the last lap or the last race. They are focused on performance potential.
4. Pitstops are key to winning
Drivers start the race with a winning strategy, but must quickly adjust in the pitlane to cope with changing conditions.
The pitstop is an opportunity to make those essential mid-race adjustment that are required to enable the driver and car to perform at their best.
But what happens when you pitstop key strategies, projects or initiatives? Will bringing your team together mid-race maximize your chances of winning?
5. The Pit team – The New Standard for teamwork
A pitteam of 20 will change all 4 tires in under 2 seconds and return the car to the track with a greater chance of success. The choreographed precision of the pit team sets the new standard for teamwork and cross-functional collaboration.
Imagine your team working with the speed, discipline and focus of a pit team. That is what the pitstop is all about.
6. Big Data Drives Performance
F1™ is not just about the fastest car or the best driver. There is a new basis for competition – that is data. Specifically, the ability to speedily analyse and act upon performance data during the race.
Each race car has over 100 senors generating masses of performance data in real time. F1™ teams employ sophisticated visualization and modelling techniques to identify trends and predict performance. This enables speedy data-driven decisions track-side to maximize the performance of the driver and the car.
Pitstop analytics bring F1™-style data analytics to the optimization of performance within organizations, business unit and teams.
Re-framing the Issue of Performance
In organizations the term ‘performance’ isn’t always positive and conversations on the topic can be difficult.
Growth Pitstop™ changes the nature of the debate around performance through the use of a model and metaphor inspired by F1™ This de-personalizes and de-politicizes the issue of performance, generates new openness, energy and engagement*.
*The technical term for this is Cognitive Reframing – creating a way of viewing and experiencing events, ideas, concepts and emotions to find more positive alternatives.