Formula One shows real experts should be driving our companies
NEW research into the success of Formula One teams shows that a leader’s genuine expertise in a company’s core business really matters. Being a capable general manager alone is not sufficient.
This is a hot topic – there is recent evidence that major firms have moved away from hiring chief executives with technical expertise, towards hiring leaders who are generalists. 50 years ago, as society switched from family-owned businesses and employment through entitlement to a more meritocratic and efficient approach to enterprise, good management was crucial – as it still is today. But the pendulum may have swung too far towards general management functions and away from core business functions.