Tipping points and Formula 1

December 16, 2015

EmbracingComplexity

You may be interested in a book some of my colleagues have had published by Oxford University Press. It is called ‘Embracing Complexity’ and you can find more details on the OUP website:

https://global.oup.com/academic/product/embracing-complexity-9780199565269?cc=gb&lang=en&

The reason I raise it here is that complexity theory brings some interesting ideas to help us deal with and adapt to change. One of these ideas is the concept of the ‘Tipping Point’. The term actually originates from the work of epidemiologists – those who study epidemics – and was taken by journalist Malcolm Gladwell in his book of the same name (more details can be found at:

http://www.amazon.co.uk/Tipping-Point-Little-Things-Difference/dp/0349113467/ref=sr_1_1?s=books&ie=UTF8&qid=1450271936&sr=1-1&keywords=The+Tipping+Point)

essentially it is when something reaches critical mass – it could be a disease like AIDS or it could be a social phenomenon such as Facebook or Twitter. Here change is created by a number of small events which suddenly ‘tip’ the phenomena from something relatively insignificant to something of global significance.

Formula 1 remains the biggest global phenomenon in motorsport, but many within and outside of it are suggesting that the business model is out of date and that ultimately it is not sustainable economically, technologically and, most importantly, in terms of generating interest and demand from consumers. Formula E has a very different model to F1 and is currently very much a minnow in comparison to the great whale. But the announcement yesterday that global luxury car brand Jaguar are planning to enter Formula E in 2016/17 in collaboration with Williams Advanced Engineering may just be one of those relatively small events that we look back on as a tipping point. Time will tell.

 

 

Interesting comments from Ron Dennis on the F1 drivers’ market

Adam Cooper's F1 Blog

Ron Dennis says he’s satisfied with the performance of Jenson Button and Kevin Magnussen in 2014, but confirms that McLaren is keeping its options open on future driver choice as it enters the Honda era.

The names of Fernando Alonso, Sebastian Vettel and Lewis Hamilton have all been connected with the team, although in theory none are free until 2016 or even later.

Dennis was reminded that a few weeks ago he said that Jenson had to “try harder,” a remark that created something of a stir at the time.

“Anyone who has actually seen the TV interview in question will know that there was an element of humour in what I said,” he told the official F1 website. “Having said that, did I also intend to give Jenson a bit of a wake-up call? Yes, I did. But I did it softly, not maliciously. Indeed, perhaps the efficacy of…

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New Coke

July 29, 2014

Great piece from @willbuxton

The Buxton Blog

Team Pack Up c/o James Moy Photography Team Pack Up
c/o James Moy Photography

The arrival of August may mean an enforced break for most of the F1 world, but not it would seem for some of the sport’s key decision makers. It emerged over the weekend of the Hungarian Grand Prix that Bernie Ecclestone intends to hold a crisis summit over the sport’s popularity. Formula 1 team bosses were made aware of this on Saturday in Budapest, along with the shock news that alongside a hand-picked selection of team chiefs and Ecclestone himself, would be media representatives and disgraced former F1 team boss Flavio Briatore.

Although it has been claimed that the meeting should not be viewed as a negative, to many it can only be deemed thus. Coming at a time when the fans of this sport, along with a growing number of dissenting voices in the paddock, are having their say on double points…

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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

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