As I have mentioned in a previous post some months ago, Formula 1 is one of the most important business to understand innovation. The reason is that, surely, there is not another business where innovations are introduced in the market faster.
We can establish an analogy with slower markets in order to analyze how the introduction of innovation solutions can affect our market.
The “Government” has changed the “laws” this season, then, we will be able to see new innovating solutions from the first race.
There is an interesting question that will be solved at the end of the season: Will the winner be the best driver or the most innovating racing team?
Lewis Hamilton has advanced his solution to this question when he has said that Red Bull racing team is not a car manufacturer. This statement is showing us that drivers recognize that the potential of the machine is over the skill of the driver.
Personally, I agree with this assertion but we must not forget that errors are always human, and a good machine (or business) could not be successfully without a good driver (or manager) because his decisions are less controlled, and then, are more error prone that the decisions of engineers or mechanics (employees).
Regarding Hamilton’s comment, it is important to notice that innovation needs fresh ideas, and people from other markets can provide new ideas that enterprises of the market could not see.