And because the FIA, motorsports’ governing body, regularly overhauls its regulations to increase F1’s competitiveness, putting together a string of championships is nearly impossible. It is even harder to rack up enough points in a season to win either a Drivers’ Championship (for the driver with the highest number of points, awarded according to the order in which cars finish a race) or a Constructors’ Championship (for the best overall team performance).
Last year only four teams managed to win at least one Grand Prix. Everything-from the engineering of the car in the factory to the multitude of decisions made on the track during a race weekend-needs to come together in order to produce a victory.
The sport is often decided by margins measured in thousandths of seconds. It is incredibly hard to win a Formula One race even once. Close to half a billion unique viewers tune in to F1’s television coverage throughout the season, and the action on the ground can attract as many as 400,000 live spectators. Each involves three days of events: practice sessions on Friday and Saturday, qualifying sessions or short-sprint qualifying races to determine starting positions later on Saturday, and the actual race on Sunday. The 2022 season features 22 “Grand Prix” weekends on five continents. Every season, from March to December, 10 F1 teams participate in races across the world.
In this article, drawing on her observations of Wolff’s management style and practices, Elberse presents six lessons that can help any leader cultivate a winning team: (1) Set the highest standards for everyone (2) put people front and center (3) analyze mistakes continually-even when winning (4) foster an open, no-blame culture (5) trust superstars but maintain authority and (6) relentlessly battle complacency.įormula One (F1) is the most prestigious motor-racing competition on the planet. Elberse’s takeaway? What you say and do as a leader has a surprisingly powerful effect on the organization you run. She found that Wolff shapes the culture at Mercedes to a remarkable degree. To understand what made that possible, Harvard Business School’s Anita Elberse spent time with the team in 2021, conducting interviews and watching what went on behind the scenes before, during, and after races. Mercedes earned the Constructors’ Championship (for best overall team performance) every year from 2014 through 2021, and over that time frame it won nearly 70% of the Grand Prix races it competed in. Toto Wolff, the team principal for Mercedes-AMG Petronas-arguably the most impressive team in F1 racing history-has led his organization to unparalleled success.
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