How Formula 1 contributes to winning challenges across industries
With growing public awareness and regulatory pressure on energy waste reduction and sustainability, efficient design in Product Development has now become imperative across all industries.
Today “product efficiency” is no longer just a measure of functional efficiency (i.e. the ratio between useful output and required input for the intended product purpose) but a much wider (and wiser) indicator encompassing the collateral impact of manufacturing, supply and disposal chains.
Competing in Formula 1 is about solving problems to reduce parasitic losses at all levels. From lean decision making to efficient design solutions and sleek operations, the ultimate aim is to convert the greatest amount of kinetic energy from a given quantity of fuel over a fixed distance and within a set of regulations. So whilst the Sport is often portrayed by critics as a wasteful spectacle, from a strictly technical standpoint it is a race in efficiency down to the tiniest detail.
Competition forces individuals and teams to challenge and hone at a significant rate their skills, creativity, analytical reasoning, dedication, technology and organisation, with a pervasive sense of urgency uncommon in most businesses. From this perspective the contribution Formula 1 can offer to industry extends well beyond the traditional realm of technology transfer to include human traits such as determination, thoroughness, persistence, responsiveness.
