The nice people at Virgin have published another guest piece from me on the subject of what makes an industry ripe for disruption? You can see it here: http://www.virgin.com/entrepreneur/what-makes-an-industry-ripe-for-disruption

As you will see from the piece I consider that F1 is most certainly ripe for disruption and that Formula E may be the disruptor that changes the rules of the game. However it is also worth making the point that many disruptors do not actually destroy the existing businesses, but create growth through the addition of new customers into the industry. Low cost airlines have not replaced the entire airline business model, but extended the airline business into new markets. You could also see a scenario where Formula E actually attracts a new group of fan into motorsport – someone who is passionate about low carbon technology and who likes the edgy new technology and city racing that Formula E will be showcasing. Who knows we may ultimately see teams like McLaren and Williams entering cars into Formula E when it becomes open to other constructors in 2016. Stranger things have happened in motor racing.

casspanel

Last night I was on a panel at Cass Business School (ranked #3 in Europe for Finance Research), which was something of a privilege, coming from a rival business school – Cranfield (ranked #1 in UK for Executive Education). I was in very good company with top F1 bloggers Joe Saward and James Allen, former CEO of Mercedes GP, Nick Fry, Leadership expert Dr Amanda Goodall and F1 technical guru Gary Anderson – why on earth have the BBC dropped him from their F1 coverage? Gary’s ‘cut off’ lap time predictions were always the highlight of qualifying as far as I’m concerned.

The panel was expertly chaired by Dr Paolo Aversa from Cass and we had a great time putting the world of F1 to rights, helped along by a great audience with lots of knowledgeable questions. Of course there was much to talk about – the new power units (I guess the term engine will now be consigned to history); what lies in store for Bernie (the view here was never underestimate him, and he will be back fully in charge by the end of the year); what’s going to happen at McLaren regarding the appointment of a new CEO (one or two people were a bit coy about this one, so maybe we’ll have an announcement soon); and will Lotus get the financial backing it needs to stop haemorrhaging great people. All in all there was much to discuss and that’s the great thing about F1: technology, finance, strategy, creative interpretations of regulations and above all people, and as Nick Fry reminded us, at the end of the day, it’s people that make the difference.

The Prof: Making a difference

September 24, 2012

Apologies for the lapse in posts over the last few months, the publish or perish world of Universities rather got the better of me, I had to attend to some academic pieces which take around three years to finally get accepted and another year or so before they are published, hardly contemporaneous, but that’s the world of academic journals, don’t think we’ll ever see a peer reviewed journal on F1. Anyway thanks for your forbearance and particularly those who enquired as to when they would see some activity on the blog, it was good to know some of you are out there.

The passing of the great (and I do not use the word lightly) Professor Sid Watkins caused me some reflection, which seemed to be an appropriate way to re-launch my musings on F1. Much has already been said about Sid – his deep knowledge and expertise in the world of neurosurgery, his kindness, his sense of humour, his commitment to safety and his role as family doctor to all those within the F1 circus as they moved from continent to continent. But as I look back over his time in F1 it is clear that he drove the most incredible paradigm shift in a global sport that went beyond Formula 1. Peter Hamlyn, his colleague at UCL, who described him as a cross between the mischievous Mr Toad, Winston Churchill, Henry V, Romeo and an encyclopedia, noted that..’when the IOC came to inspect our London 2012 Olympic bid they asked us if “the medical facilities would reach Formula One standards”.’ To imagine such a question in the 1960s or 1970s was pretty much impossible, and it is a testament to Sid that F1 is now the benchmark for safety technology. Of course, like other leaders who create seismic levels of change he did not do it alone. The pioneering work of Sir Jackie Stewart, the total support of Bernie Ecclestone and Max Mosley, the commitment of volunteer medical staff across the world, the expertise in FIA institute, were all part of the story, but Sid became the talisman of all that was new about safety in Formula 1. It was his clear focus on creating a different way of thinking about safety and the medical infrastructure to deliver it that was so impressive. The whole notion of the medical car and the two air ambulances required at every F1 race were about ensuring that should an incident occur the very best care was available almost immediately, it was in these critical minutes that most could be done to save lives, and there’s no question that he saved many.

An impressive character on every level, Sid also produced, in my view, one of the best books ever on Formula 1. Ritualistic driver autobiographies are generally a rather lack luster collection aimed at fully exploiting fame before it fades away (although Niki Lauda’s are the exception). Sid’s book is a combination of many things, funny, moving, insightful, full of rich (in both meanings) characters it also gives a detailed account of how to change the paradigm of a global sport – essential reading, I would have thought, for anyone interested in really making a difference.

 

Peter Hamlyn’s piece in the Telegraph:

http://www.telegraph.co.uk/sport/motorsport/formulaone/9541394/Sid-Watkins-tamed-Formula-One-and-was-as-famous-for-his-neurosurgery-as-Christian-Barnard-was-for-the-heart.html

Sid Watkins’ biography:

Watkins, S. (1997). Life at the Limit: Triumph and Tragedy in Formula 1. Pan Books.

Blog reader, Mark Martin who works for Moneysupermarket, has sent through the attached link showing Nigel Mansell advertising car insurance along with Omid Djalili – enjoy!

http://www.youtube.com/watch?v=IZG_wN9G3uo

A victory for Peugeot

June 15, 2009

The Le Mans 24 hour race this weekend was won by a Peugeot 908 turbo diesel. This was Peugeot’s third attempt to break the domination of Audi who had pioneered the use of diesel technology in endurance racing. Peugeot had made a fairly disastrous attempt to enter F1 as an engine supplier in the mid-nineties – first with McLaren, then Jordan and finally the ill-fated Prost operation. They withdrew at the end of 2000 but have found more success in developing diesel technology for specialist sportscar racing, and now, finally, they have beaten Audi at Le Mans.

From a Formula 1 perspective the most significant aspect of the Le Mans race was the presence of Luca di Montezemolo, the president of Ferrari and Chairman of the Formula One Teams Association (FOTA). Ferrari are the only team who have been in Formula 1 since the FIA started the world championship in 1950. Despite their commitment to F1 over this time they have also made frequent forays into sports car racing and were particularly successful at Le Mans in the 1950s and 60s. In fact the first victory of a Ferrari racing car was not in F1, but at Le Mans in 1949.

The presence of Luca di Montezemolo at Le Mans was not coincidental. It was designed to send a clear message that F1 is not everything in motor racing and that Ferrari and the other FOTA teams do have alternative ways of spending their motorsport dollars. The pressure will now build up this week, to Friday when we may see a resolution to the FIA/FOTA impasse, or of course we may just get another extension to the deadline.

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