Today it’s my Birthday, which means it’s almost time for the Formula 1 session to start.
Formula 1 is a great model for ultimate performance. Every car, driver, and team element is fine-tuned to be the best of the best.
2022 is the first year that a total budget cap will be used, alongside many new car designs and regulations.
The idea is to use the budget cap to bring the mega and minor teams closer together in performance. The goal is to drive innovation and competition.
If you are an F1 team, you can no longer throw money at your problems. Efficiency is the only way to go while delivering the ultimate performance when needed. F1 teams have jumped on this challenge, and each looked to solve this problem entirely differently.
When you think of budget planning with your portco, tech leaders. How would your portco tech teams react when budget restrictions are placed on them?
Do they jump at the opportunity? Do they challenge the cost gap? Do they look at ways they make you portco more efficient using technology?
Keep leading; it matters.
Until next time
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