The business of winning : insights in transformation from F1 to the boardroom

Have you ever wondered what has made Mercedes the undisputed kings of Formula One? Do you want to know how Lewis Hamilton has managed to exceed legendary driver Michael Schumacher's record of winning races? And most of all, do you want to find out how to inject that winning streak to your business strategy? In this riveting insider's account of nearly 40 years in the Formula One industry, Mark Gallagher explains what it takes to succeed in a competitive business with high technology, high finance and immensely high stakes. Like any global business, Formula One demands the best from its people. To thrive within it requires impeccable leadership and communications skills. You also need to bring in the ability to design, manufacture, develop and launch a constantly improving high-technology product, constantly working to immoveable deadlines with an immense supply chain and tight regulations. The Business of Winning sets out a one-stop management guide for business leaders keen to emulate this high-speed, high-impact approach to business. This entirely revised new edition unveils how Formula One is using new technologies to finesse the most minute of details, whilst reaching new audiences, playing its part in sustainability with the aim of being carbon neutral by 2030 and showing the way to diversity and inclusion. Have you ever wondered what has made McLaren the undisputed kings of Formula 1? Do you want to know how Lewis Hamilton has managed to equal legendary driver Michael Schumacher's record of winning races? And most of all, do you want to find out how to inject that winning streak to your business strategy? In this riveting insider's account of over 40 years in the Formula One industry, Mark Gallagher explains what it takes to succeed in a competitive business with high technology, high finance and immensely high stakes. Like any global business, Formula One demands the best from its people. To thrive within it requires impeccable leadership and communications skills. You also need to bring in the ability to design, manufacture, develop and launch a constantly improving high-technology product, constantly working to immoveable deadlines with an immense supply chain and tight regulations. The Business of Winning sets out a one-stop management guide for business leaders keen to emulate this high-speed, high-impact approach to business. This entirely revised new edition unveils how Formula One is using new technologies to finesse the most minute of details, whilst reaching new audiences, playing its part in sustainability with the aim of being carbon neutral by 2030 and showing the way to diversity and inclusion Halftitle Page 2 Title Page 4 Copyright Page 5 Contents 6 Foreword 8 Preface 12 01 Formula One – a global business 14 02 Insights on leadership 30 Lessons in leadership 53 Notes 54 03 Building winning teams 56 Lessons in team building 68 Note 70 04 The diversity challenge 72 Lessons in diversity and inclusion 93 Notes 94 05 Teamwork – the pit stop 96 06 Formula One’s safety revolution 108 Lessons in safety and risk management 126 Note 127 07 Managing change 128 Lessons in change management 143 Note 145 08 The climate race 146 Lessons from the climate challenge 166 Notes 167 09 Esports revolution 170 Lessons from esports 184 Notes 185 10 Performance management 188 Lessons in performance management – key factors to bear in mind 199 Notes 200 11 Innovating to succeed 202 Lessons in innovation – key summary 214 Notes 215 12 Communication 216 Insights in communication 228 Notes 229 Index 230