Performance at the Limit: Business Lessons from Formula 1 Motor Racing

Performance is the central focus of every organization, and yet for many how this can be achieved is an unanswered question. This book takes the case of Formula 1 motorsport, where the connection between performance and all elements of the organization is fundamental to success. Can you imagine your organization as a Ferrari or a Jordan, a Williams or a Minardi? Your management team as a pit crew? Your sales force as the race team and your marketing and research people as the design studio creating a Formula 1 car? The case histories and examples which are examined provide both inspirational and instructional guidance to those seeking to achieve levels of performance - at the limit of possibility.

Table of Contents:
1. Introduction; 2. Why Formula 1 motor racing?; 3. The performance framework; 4. Individuals; 5. Teams; 6. Partners; 7. Organisation; 8. Integrating; 9. Innovating; 10. Transforming; 11. Performance; 12. Ten business lessons from Formula 1 motor racing; Appendix A. Grand Prix Champions 1950–2004; Appendix B. Grand Prix graveyard 1950–2004; Appendix C. Interview respondents; Appendix D. Published sources; Appendix E. References.

About the Author :
Mark Jenkins is Professor of Competitive Strategy at Nottingham University Business School. Ken Pasternak is a former international banker and now designs and delivers management development programmes. Richard West is a trained former automotive mechanic who transferred to the commercial side of Formula 1 motor racing in the early 1980s. During his career, he has worked with the McLaren, Williams and Arrows F1 teams as well as holding a Directorship of the Le Mans and Daytona 24 Hour Jaguar sports car teams. He successfully revitalised the British Touring Car Championship between 2000 and 2004 and in his career has raised in excess of 165 million dollars worth of sponsorship. Today he works as a keynote speaker and presenter for a growing range of national and international clients and has co-authored two books on the business of Formula 1 as well as co-presenting the BBC World TV series 'Formula for Success'. He is also frequently called upon as a facilitator and mediator at high level conferences.

Review :
'Mark, Ken and Richard brought us many insights from Formula 1 to help coach our people in high performance. It is great to see these insights developed and applied in Performance at the Limit.' Hugh Crisp, Chief Executive, Freshfields Bruckhaus Deringer 'Formula 1 is the pinnacle of motor sport and one of the most watched sports in the world. Those taking part - drivers, managers and engineers - are always working in pursuit of excellence in a highly competitive environment. Performance at the Limit is a detailed analysis of this world, carried out with a scientific approach. I think it makes for very useful reading for those who want to learn from what goes on behind the scenes and below the surface in Formula 1.' Jean Todt, Managing Director, Ferrari 'The authors have produced perhaps the most definitive analysis of what makes Formula 1 teams such high performing businesses. It is a book all senior business leaders should read to help them find ways to speed up their business performance.' Robert Baldock, a former senior Accenture partner and strategic adviser to the Williams F1 team, and founder and former chairman of the Motorsport Industry Association 'Speed, simplicity, boundaryless behavior and leadership at all levels are the hallmark of winners in Formula 1 racing. The same is true for winners in today's global businesses. Performance at the Limit builds these lessons from unique and insightful research on Formula 1 racing. This is a great read and filled with practical concepts for global business leaders.' University of Michigan and author of The Cycle of Leadership (with Nancy Cardwell) 'Performance at the Limit captures the extraordinary power of analogy to create deep meaning. With vivid examples from Formula 1 racing, the authors bring to life the lessons of teamwork, competition, and design that ring true for executives seeking the highest performance. An inspiring and engaging read.' Kathleen M. Eisenhardt, S. W. Ascherman Professor, Stanford University 'With the best-known brand in professional sports, Formula 1 represents a great business success story from which other businesses can learn. Unblinking focus, clear and constant communications, and the continual drive for improvement all contribute to realising performance at the limit in all organisations, large and small. What business wouldn't wish to replicate the brand loyalty of Ferrari fans to their team?" Mary Jo Jacobi-Jephson, Vice President, Group External Affairs, Shell International Ltd 'Fast, fun and fabulous. The lessons of Formula 1 will set your mind racing with insight and should send readers racing to book stores.' Richard D'Aveni, Professor of Strategic Management, Tuck School of Business 'Performance at the Limit demonstrates how Formula 1 embodies the essential synergies of business - the conjunction of leadership, knowledge and attention to detail.' John McGee, Professor of Strategic Management, Warwick Business School 'This book is not so much about F1 as about how to manage in a highly competitive, fast changing, hi tech business environment. It provides valuable lessons for the increasing number of managers who face such circumstances.' Gerry Johnson, Professor of Strategic Management, University of Strathclyde and co-author of Exploring Corporate Strategy 'This book offers readers not only a compelling metaphor but also an insightful set of guidelines for how to achieve, and more importantly, sustain business performance over time … This book is excellent reading for managers or aspiring managers at all levels of the organization.' Steven W. Floyd, Professor and Cizik Chair of Strategic Management, University of Connecticut 'a very worthy book about business lessons gleaned from motor racing...' - F1 Business magazine, July 2005 '…a very worthy book about business lessons gleaned from motor racing...' F1 Business magazine