Ecclestone - Wide Lens Approach

Table of content

1        Introduction        

2        Wide lens tools        

2.1        Value blueprint        

2.2        Innovation risk framework        

2.3        Minimum viable footprint        

2.4        5 levers        

2.5        Current value blueprint        

2.6        Leadership prism        

3        Lean startup approach        

4        References        

1. Introduction

Given article is a very successful story of Ecclestone and his F1. It comments about beginnings of racing world that was firstly enjoyed only by rich enthusiasts. Thanks to Ecclestone the F1 sport became one of the most famous worldwide racing sports. Ecclestone´s involvement in F1 had begun in mid ´70s and through decades of innovations and reorganizations he was able to turn F1 into multibillion business. Very important in this case were technological innovations used in cars – that are possibly most technologically advanced land based vehicles – but mainly Ecclestone´s understanding of the whole F1 ecosystem and various connections among its elements that he was able to improve. His successes mirrored in fact that he was able to grasp enormous revenue for himself and his organizations, which secured him place among richest people of the world.

In further text I am providing deeper analysis of F1 environment and Ecclestone´s involvement. I am using those “wide lens approach” tools, that I think were the most important for this case.

1. Wide lens tools

1. Value blueprint

In order to understand the ecosystem and various changes that took place through years it is necessary to construct the model of whole ecosystem. This model – value blueprint – should provide a point of view, with which is possible to determine which elements of ecosystem are absolutely necessary, which need to change (briefly or more dramatically) and which should be removed for making innovations possible. Also very important are connections among elements of ecosystem.[pic 1]