Posts Tagged Motorsport industry

RPM network focuses on Motorsport Industry strategy development post COVID-19

On April 10th 2020 RPM network has had another video conference of its series this time focusing on the topic of “Motorsport Industry post COVID-19, perspectives generated by an organisational culture focusing on business models and business strategy”.

Speakers stimulating debate among the numerous participation of RPM members: Rodi Basso (Technology and business strategy advisor in Motorsport and beyond) and Paolo Aversa (Director of the MBA program at Cass Business School – London and researcher on Motorsport business strategy), moderator Riccardo Paterni.

The focus of the debate has been on approaches to manage at best the challenges set by the current pandemia and shape business development opportunties beyond it. This relates to both changes on organisational internal and external dynamics with the drive to utilise at best the levers of change that we can control.

In such regards external change can be analysed in relation to three factors: magnitude, frequency and predictability (all help us to frame present context and also make at best projections towards the future).

The operational and strategic approach to take focus on 5 key steps: 1) focus on health and safety; 2) focus on consistent meaningful – facts and data based – dialogue with personnel, clients, suppliers, reachable regulatory bodies; 3) focus on strengthening competence relevant to data gather, interpretation and use for decision making; 4) develop methodical ways to plot and shift dynamically different scenarios impacted by key variables; 5) develop the ‘so what?’ Strategic mindset relevant to the scenarios shaping up different business models and set the habit to refocus and refresh the scenarios and linked strategic approaches with a more frequent and consistent timing.

We have dialogued about the fact that this kind of approach can be fundamentally taken by any organisation also the small ones leveraging upon the tools, means and networks that are reachable: it is the entrepreneurial mindset geared towards finding opportunities for growth and development that makes the difference.

In terms of opportunities we have dialogued about three key main areas relevant to the Small and Midsize Enterprises as the ones that form RPM: 1) visibility: it is possible to gain public visibility if we manage to become involved in production of product / services useful to manage the pandemia; 2) time for action: because of the lockdown now more then ever we have the opportunity to focus methodically on strategy development; 3) time for change and evolution: the methodical strategic focus leads companies to better identify and leverage upon the very own competencies. It is important to note that we are not pointing out simply technical competencies, better yet also relational competencies, access to enabling networks, mix of competencies that enable the strategic and operational business in fields technologically related to Motorsport. In this regard we need to remember that Motorsport itself, by its historical roots, sprung technologically and in terms of business development from fields such as automotive, aviation, aerospace.

All in all it was pointed out that any strategy elaboration must leverage itself from the key foundations of vision, mission and values that comprise the unique identity of the organisation and set the essence for its development. Internal and external circumstances may sway the original trajectory but once that the ultimate engaging purpose of the organisation is well clear and defined strategy, through the perspectives above indicated, it becomes generated as a direct consequence.

The debate has continued with some concrete examples on how RPM companies are tackling the current complexities. What emerged is a proactive sense of drive set to find solutions for development leveraging upon consistent dialogue with clients, suppliers, federations.

RPM renews and strengthens its commitment to these strategic developments (essential part of the vision, mission and values set and declared openly since the very beginning of this project ).

We thank Rodi Basso and Paolo Aversa for their inspiring participation to the conference and we are working towards further shaping with them operational ways to implement for RPM members what we debated during the conference.

In the meantime the series of RPM virtual debates will continue with an upcoming conference featuring Pim Van Baarsen CEO of the Silverstone Technology Cluster and Tim Angus RPM representative in the UK. We will learn about the activities the Cluster is organising to face these complex times and learn how we can possibly establish operational and strategic ties with it. Stay tuned for updates.

We thank Cifa Italia for providing the techological tools to enable these RPM conferences.

Posted in: Innovation, Talent Development

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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.

Riccardo Paterni introducing the presentation

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

Posted in: Innovation

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An additional kind of innovation for Motorsport survival and growth

Tonight, at the Motorsport Industry Association Business (MIA) Awards Ceremony, MIA President Chris Aylett made an inspiring speech.

January 14th 2016, Chris Aylett, MIA President, addressing the Motorsport Industry Association Awards ceremony

January 14th 2016, Chris Aylett, MIA President, addressing the MIA Awards ceremony within the AUTOSPORT INTERNATIONAL event

He pointed out the health of the Motorsport Industry Research & Development (30% of turnover, way ahead of any other field) at the same time he stresses the relevance of dynamic entertainment to involve the younger generation. To such scope he referred to an idea stimulated during meetings and conferences with professionals from the tech and marketing areas alike: if fans had access to live performance (human and technological) data and information interest possibly could be risen also among the all relevant younger generations. One of many ideas that need to be developed around the key realization that Motorsport depends on fans active participation no matter what …

Posted in: Innovation

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