Posts Tagged Motorsport

The Motorsport Industry takes center stage in Academia

The Motorsport Industry is rapidly developing an industrial and managerial influence that goes well beyond the business of racing. This is one of the reasons why it has been introduced on 28th September 2016 at Regent’s University in London within an International Academic Conference organised by the International Academy of Management & Business (the Academy involves scholars and practitioners coming from all over the world, focusing on several research topics that are shaping the present and future of organisational and business development www.iamb.net ).

Riccardo Paterni (Entrepreneur focusing on Motorsport developments at Synergy Pathways), Dr.Tim Angus (Honorary Research Fellow, Center for Business in Society, Coventry University) and Gabriele Testi (Motorsport journalist) have elaborated a presentation illustrating the relevance of the Motorsport Industry in developing knowledge, innovation and know-how that can be shared and applied across various industries.

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Riccardo Paterni introducing the presentation

Motorsport Value Chain

Motorsport Value Chain

Motorsport empowering management & business development

After a brief introduction relevant to the nature itself of Motorsport as a global business and to its roots historically based mainly in the UK and Italy, the presenter (Riccardo Paterni) has outlined three key concepts relevant to the Motorsport Industry: 1) the substantial amount of know-how that is dynamically produced and utilised because of a unique mix of high level of technological capital investment and highly skilled human capital; 2) the concrete understanding and implementation of innovation; 3) the systematic capability to share know how across industries. Specific case studies have illustrated the concepts.

The first two case studies have featured two Italian companies deeply rooted into Motorsport. Costruzioni Meccaniche Novricom (based in Pontedera – Tuscany) and Ycom (based in Colecchio, close to Parma – Emilia Romagna).

Powerful mix of top technology and top human skills

Costruzioni Meccaniche Novicrom, whom founder Iliano Parrini was a young colleague of Enzo Ferrari in Alfa Romeo well before becoming a Ferrari supplier (since the late ’60). Novicrom develops high precision machine tooling to manufacture small batches components and prototypes. Since its founding in 1947 the company invested 20% of its turnover in technology and at the same time retained a highly skilled, continuously trained, workforce which seniority goes well above 30 years. This unique mixes allowed for a transfer of applied know-how from aviation to Motorsport and from there to more sophisticated aerospace and aviation industries straightening top level presence in motorsport and automotive.

Innovation and the motorsport culture

Ycom, a motorsport manufacturer focusing on the entire project innovation cycle: design, development, carbonfiber, manufacturing, testing and racing. In particular it has been pointed out the capability of the company to accelerate the timing of the innovation process – measured through the Technology Readiness Level developed by NASA – while containing budgets. To illustrate the point it has been selected the project commissioned by Lotus to Ycom relevant to the project of the GTE version of the Evora set for racing at the 24Hours of Le Mans and World Endurance Championship. The case study shows the unique overall motorsport culture driven by a passioned skilled sense of determination to develop innovation: solutions to problems, to effectively generate and sustain performance.

Ycom LOTUS Evora Case Study

Ycom LOTUS Evora Case Study

A flow of knowledge: from racing to pharmaceutical

Last but not least the case study selected to show the hight capability to share motorsport know-how across other fields. McLaren has since been since the ‘70s an innovator in utilising sensors to capture and download data from the racing car in other to elaborate them. McLaren has been one of the first motorsport companies to perceive itself as an overall technology company: the overall McLaren Technology Group concept begins from there and it has evolved since into the current McLaren Applied Technologies. This last company has set up a partnership with the pharmaceutical corporation Glaxo Smith Klein to utilise a much evolved sensor technology to monitor, prevent and manage several health issues. A flowing know-who from tracks to the pharmaceutical industry.

An open forum

A debate has emerged with the generalist academic audience that has come to realise how the Motorsport Industry can represent concretely a conceptual and practical way to improve management and business development methods. This can represent an all new dimension of Motorsport that, no doubt, deserves to be further analysed, understood and applied.

SLIDES PDF:

FIRST PART: Motorsport Industry: driving innovation and industry diversification – prima parte

SECOND PART: Motorsport Industry: driving innovation and industry diversification – seconda parte

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International Management Conference In London. Introducing Motorsport as an inspiring and practical topic!

Motorsport: driving innovation and industry diversification

New knowledge development and knowledge sharing

presented at the International Academy of Management and Business’s Conference

On Friday September 28th at Regent’s University LONDON

London presentation 1

By

                                       Riccardo Paterni (Entrepreneur at Synergy Pathways) – presenter                                                                             
Dr Tim Angus (Honorary Research Fellow, Centre for Business in Society, Coventry University)

with Gabriele Testi (Motorsport journalist)

Topic Abstract:

Motorsport is not simply a sport involving racing cars, it is a complex and far reaching industry generating many billions of US dollars of global turnover each year. It has deep historical roots that go back to the very beginning of the automotive industry,

Motorsport involves a wide international network of manufactures, related components sup- pliers, research & development activities, related paying fans (and in most cases paying dri- vers) and sponsors. These invest and leverage the global media system that for some of the championships has a strong global reach (for example Formula 1 Grand Prix are the most glo- bally followed sport taking second place only to the Soccer World Cups and the Olympics). Mo- torsport has a dimension that spreads from the local to the global in which many global automo- tive manufacturers are involved. It has a value chain that involves: constructors, participants, events, and the distribution and consumption of the sport. The total global yearly turnover for Motorsport as an industry is well above USD 50 billions (Henry et al, 2007).

Motorsports integrated complexities are what makes it a unique business ecosystem which is similar in many respects to many other business ecosystems that might be encountered within various economic fields; such complexities are generated by many variables spanning techno- logical aspects to regulation, the management of high levels of dynamic know-how and the shaping-up, development and management of often far reaching business models.Motorsport requires, by default, an extremely dynamic constantly changing environment requiring a consistent focus on efficiency (relevant to financial, technological, infrastructural, organizational and highly skilled human resources management) and, at the same time, a marked and relentless focus on on-racing-track and commercial performance.

All of these characteristics make the Motorsport ecosystem a solid, concrete and at the same time continuously evolving laboratory of innovation: a laboratory in which innovation is identified and implemented in very pragmatic terms, for example, in terms of novel effective solutions to problems (racing tracks are nothing if not constant active practical and conceptual laboratories for these problems), novel products and services that are welcomed by markets. Innovation in motorsport goes well beyond the realm of technological innovation into innovation in knowledge generation, knowledge-transfer and new business models related to new industrial and commercial realities. Industry diversification, rooted in this new knowledge production , is a natural offspring of these industrial dynamics.

An additional characteristic that feeds this overall system, is the presence of specific motorsport industrial clusters (geographically comprised socio-economic networks that develop and implement new knowledge) that have been characterizing parts of the industry since its beginning and are still present today (e.g. the UK’s ‘Motorsport Valley and Italy’s ‘Motor Valley’). Motorsport and its related industrial and research & development activities has become a prime example of high level knowledge development ready to be shared among other applications and industries. We will present case studies (Costruzioni Meccaniche Novicrom, Ycom and McLaren Applied Technologies) that represent this concept from a knowledge perspective generating far reaching business development activities by leveraging upon the constant in- novation present within motorsport.

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On innovation and bringing new life to Motorsport; up for debate

The September 2016 issue of Motorsport magazine features the 50th anniversary of the legendary CAN-AM series, these were the times when actual multifaceted, original innovation developed pushed forward by unique legendary manufacturers because:

“Chaparral, Lola, McLaren, Porsche, Shadow… such marques gave us the big, bellowing, basically unlimited Can-Am sports-racers of 1966-1974. These mighty machines may be blazing into their golden anniversary years now, but they might well survive in the hearts of enthusiasts forever.

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Why? Because they recall something now nearly extinct in motor racing: freedom of design.

North America’s original Canadian-American Challenge Cup Series imposed amazingly minimal rules and restrictions, at least at the outset. The two primary requirements were bodywork covering the tyres and cockpits just wide enough to accommodate an intrepid passenger, so the vehicles could be described as sports cars. Safety standards also had to be met, but otherwise a creative Can-Am mind was pretty much free to run mad.”

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Will getting back to this revive the current struggling top Motorsport scene? Is it actually still possible to do it? What would it entail?

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Leveraging on Motorsport dynamics to better understand the ones of business today

When we talk about speed, change and complexities of business nowadays we are often puzzled by the many factors that affect the survival and development of small, midsize and large organisations. Technology, markets, finance, regulatory constraints, all of them represent at the same time challenges and opportunities for growth.

Motorsport, by its very nature, increasingly represents a powerful concentration and integrated mix of all of these aspects and variables: it requires a keen attention to how resources are managed in an effective and efficient way within constantly changing constraints. Motorsport is also a proper industry which turnover has been marking and marks billions of euros across the globe. In addition its research & development has a direct influence on many fields that go well beyond the intuitive one of the automotive: aerospace, energy, defence, medical, high-tech consumer goods represent additional sectors in which the applied research driven by companies directly related to Formula 1 such as McLaren Applied Technologies or Williams Advanced Engineering have an increasingly relevant influence.

Dr.Tim Angus, from University of Coventry, presenting at the University of Pisa International MBA

Dr.Tim Angus, from University of Coventry, presenting at the University of Pisa International MBA

Recently at the University of Pisa International MBA these aspects have been pointed out with a particular focus on the Motor Valley in the United Kingdom which represents a clustered and integrated source for such developing activities. I have invited Dr.Tim Angus, from the University of Covetry, to make a presentation on such topic and it has caught the attention of the MBA participants and Italian organisations alike operating in the field and related one. At this link an article from Motorsport.com reporting on such presentation (in Italian).

The book goes in depth on all of this aspects relating them to the way they contribute to generate innovation within such an array of economic fields.

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WANTED: Innovative Value Adding Propositions to Motorsport

Recently an article on AUTOSPORT by Ed Straw by the title “Is Motorsport sleepwalking to doom?”  addressed a topic that in many ways is troubling many of us: Motorsport does have problems that go even well beyond the financial ones, they often go to the very roots of it, to its identity related to its present and future. Currently Motorsport seems confined in a tunnel: the exit is still not yet in sight yet the speed needs to be kept high and the driving does not allow for any sort of mistake.

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That exit can be made closer with Innovative approaches to creating New Value Adding Propositions. Prepositions that recognise fully the social, economic, technological and communication factors having a market impact on Motorsport, prepositions that need to arise from a proactive mindset rather than a reactive one.

Motorsport needs to be awakened through innovative ways to assert its value added in terms of sport, technology and entertainment from two perspectives: top-down (more visionary planning taking into consideration the key element that fuels it: fans) and bottom-up (each one of us, passionate about it, working on it, need to find a way to contribute in a positive proactive way).

Out of these approaches, new sustainable business models are needed to develop along this line Motorsport in regards to several series and several venues. The foundations of these business models are addressed in the book with concrete examples.

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The Motorsport Industry Association (MIA) cooperating to the development of the book

In Donington, during the Formula e last round of the 2015/2016 presasons tests, we had the pleasure to begin dialoguing about the topics of book with Chris Aylett, Chief Excetutive of the Motorsport Industry Association (MIA).

Chris Aylett Chief Executive MIA

Chris Aylett Chief Executive MIA

MIA is an organisation that reaches globally the development of Motorsport linked to the automotive sector too. Not only MIA organises events, seminars and meetings relevant to unique perspectives concerning Motorsport development, it also develops and presents first hand top analytic research regarding many of the processes that are fundamental, and will be fundamental, for Motorsport sustainability on a global scale and for an active integrating involvement between Motorsport and Automotive. We thank Chris Aylett and his organisation for all of the assistance and cooperation are and will be offering; we will do our best to treasure it enriching the book contents, ideas and activities that will spring from it.

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Formula-e live from Donington. Ever stronger focus on performance, efficiency and entertainment followed from Mahindra and Mahindra Racing perspective.

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I am currently following (from the comfortable media center above the pit lane compared to the breeze that has been blowing outdoors since early morning) the last day of Formula-e preseason testing in Donington while working on interviews and research relevant to the book.

Going well beyond unique technological challenges 

Formula-e, since its very inception, has been driven by focus on sustainability, efficiency and innovation from several points of view that go even beyond the all fundamental technological one. The series has become an example of a new way (better say refreshed, back to original roots) to bring new energy to the relationship among fans and a global Motorsport championship.

As a global Motorsport series it is no doubt more reacheble then many other series and it makes easier for fans to interact with world popular drivers (even former F1 world champions as Jacques Villeneuve) among other competitive drivers that perceive racing here as a way to revamp their image or to develop their career. The process is helped by the fact that the series is becoming ever more competitive from a technical and sporting point of view and at the same time is rapidly multiplying its media global following. Besides watching that starting grid grandstand and quite full in a breeze morning is quite revealing.

Performance, efficiency, entertainment 

This championship is driven by a marked continuously renewed focus on factors that need to be integrated dynamically while the bar of relevant standards is being pushed higher and higher: efficiency, performance, entertainment.

This is all very attractive for the automotive and Motorsport community alike for several reasons, all of them having to do with the concept of sustainability through innovative synergic integrations of: visions, resources, cross pollination among various technological fields, talents (even race driving is very much redefined here) and know-how relevant to engineering as well as to anything that pertains to communication and media.

Automotive and Motorsport innovation interplay: Mahindra’s case

Mahindra from a corporate point of view is integrating forces with Mahindra Racing on these kind of dynamics with a technological interplay between automotive (Mahindra Reva is one of the very first electric car global projects that now is set in an evolutionary path related to higher performance) and track racing focusing more and more in rising the standards of being dependable, efficient (the Reva project has inspired much of the early and last season work on this) and reaching higher performance within the power cap set by the rules of the series.

On top of this there is the overall key focus on media and communication that Mahindra is generating in relation to projects that at the corporate level aim to define and implement an all new way of looking, creating and experiencing mobility (sustainability, efficiency and practicality are some key stepping stones on this); Mahindra Racing integrates powerfully all of this with a particular focus on developing an higher level of active involvement from fans that at present are for the great majority simply viewers. This goes also to the very roots of an extremely needed and deserved process of Indian Motorsport proper and more widespread development.

All of this will be further developed within the book integrating experiences of automotive and Motorsport projects and activities on a global scale that belong to history, present and future of automotive and Motorsport innovation interplay.

Interviewing Chetan Maini (Reva founder and R&D Head) in Bangalore last January (he is also an active board member and technology reference to Mahindra Racing), Dilbagh Gill (CEO & Team Principal Mahindra Racing) and B.Karthik (VP Corporate Brand Management Mahindra) here in Donington has been a quite unique and inspirational experience that will have a marked influence on the book.

No doubt India should be very proud of the multifaceted and far reaching developments that Mahindra has in place within its visionary path.

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