Managing efficiency in sport: evidence of Formula 1 Williams GP team

Abstract

The article addresses the specificity of managing efficiency in motorsport industry and the development of key performance indicators (KPI) system for the Formula 1 team. The study analyses the annual reports of the company that manages Formula 1 team - Williams Grand Prix Holding, and Liberty Media company which owns the rights to hold the Formula 1 championship. This paper is based on Kaplan-Norton balanced scorecard system, industry reviews and studies. The analysis provides an overall profile of the firm, identifies its weaknesses and formulates the strategic development goals related to both sporting activities and other areas of work. The study contributes to management theory by developing efficiency criteria framework adapted for motorsport sphere that is currently considered understudied. Finally, the paper offers a system of indicators that may be both used for performance evaluation in automotive business and its sports (competition) segment and adapted to other sports.

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