Global MBA

News

  1. TOP
  2. About
  3. News
  4. Lessons for MBA team management from F1 racing

Lessons for MBA team management from F1 racing

#MBA #Team #management

First, take a look at this video, which details 60 years of progress and advancements in Formula 1 racing. What changes? The pit team—which becomes capable of changing tires in mere seconds with shocking efficiency and through teamwork and coordination. The sight sends an involuntary chill up your spine. Southwest Airlines, a frequent subject of MBA case studies and often labeled the “safest airline in the world,” supposedly took a hint from F1 pit work when it sought to decrease the aircraft parking fees (paid by airlines to airports) it incurred based on the time its planes spent on airport runways from landing to takeoff. Incorporating pit work-style teamwork inside the plane succeeded in reducing prep time from the traditional hour-plus to less than 10 minutes. Southwest took a cue from cutting-edge sports competitions, in which a hundredth of a second can mean the difference between defeat and victory—why not be proactive and do the same to meet the business challenges you face?

Incidentally, if you watch the video closely, you’ll learn that in the past, racers would stop for a drink during pit time. Drivers lose two to three liters of fluid over the course of a race. If left unchecked, this dehydration can hinder physical performance through leg cramps and other afflictions. Now, a drinking tube is inserted into the driver’s helmet so that the F1 machine itself supplies hydration during the race.