Supported by the Marie Curie Actions (Intra European Fellowship - FP7) and partially from the EPSRC grant on "Building better business model" the Formula 1 project was officially started in 2012 under the coordination of Dr Paolo Aversa, one of the leading experts in the Motorsport industry.
Formula 1 is an industry worthy of study in and of itself. F1 is-in fact-the most watched annual sporting series in the world, with more than 525 million people watching over the course of the season. It has an estimate turnover of more than US$4 billion; employs around 50,000 people in more than 30 countries; and embodies the cutting edge of technology in the automotive industry. What is more, the technologies developed for F1 racing are relevant to many other industries far removed from the racetrack. Innovations by leading teams such as Ferrari, McLaren, Red Bull, Williams among others have made their way not only into the regular road car industry (e.g. ABS breaks, aerodynamics, finger-controlled gear shift systems, etc.), but also bicycling (e.g. Ultra-light carbon-fiber composites), the tracking of people in factory shop-floors, hospitals, or sports training for the Olympics (e.g., advanced telemetry systems), advanced engineering (e.g., virtual design and simulators), and even public transportation systems (e.g., flywheel energy storage mechanisms).
Due to its relevance and great availability of official data, Formula 1 represents a perfect field for management research. The Formula 1 project is focusing on two main research trajectories:
1. The multi-level factors affecting firms' technological performance.
2. The relation between technology and business models.
A series of research papers are currently under development in collaboration with several leading scholars.
1. Dr Alessandro Marino (Luiss University Rome)
2. Prof Luiz Mesquita (Arizona State University)
3. Dr Stefan Haefliger (Cass Business School)
4. Prof. Gino Cattani (New York University)
5. Prof Jaideep Anand (Ohio State University)
6. Prof Mark Jenkins (Cranfield University)
7. Dr Santi Furnari (Cass Business School)
Marino, A., Aversa, P., Mesquita, L., & Anand, J. 2013. Driving performance via exploration in changing environments. Evidence from Formula One racing. Working Paper. Under review in Organization Science.
Aversa, P. & Haefliger, S. 2014. Veni, Venididi, Vici! An exploration of Business Models and Technological Innovation within the Formula One Ecosystem. Working Paper. Under Review in Industrial and Corporate Change.
Aversa, P., Cattani, G., & Marino, A. 2012. The Portability Of Individual Performance: Do Formula One Drivers Race Faster In A New Racing Team? Working paper.
Aversa, P., Furnari, S., & Jenkins, M. 2013. Diffused passion as "primordial soup" of cluster genesis. The case of the British gentleman drivers clubs. Working Paper.
Aversa, P., Marino, A., & Jenkins, M. 2013. Adaptation in complex and turbulent environments. Evidence from the Formula One racing industry. Working Paper.
"The Business of F1".Guest speaker at: BBC World News (tv); BBC Radio 5 Live "Wake up to money"; BBC Radio 4. March 14, 2014.
"L'innovation tecnologique en F1 prende son temps", Economie Du Sport, March 29, 2013.