When discussing high performing teams, Formula 1 often gets mentioned. Rightly so. The drivers are the ones who get the car over the line, but success is not down to their talents alone. An F1 driver is joined on the circuit by an entourage, dedicated to telemetry, feeding the driver realtime information about everything from clutch torque to the temperature of the tyres. Teams invest a significant part of their budget in the latest information gathering techniques to optimise race performance and unlock their driver’s potential.
Many boards put great effort into making sure they have the right people around the table. But, as with racing drivers, the best directors need to be able to rely on more than sixth sense to steer the fortunes of the organisation; they need high quality information.
This guidance is a response to that challenge, setting out a roadmap for those who want to provide their board with the very best information and insight. It is intended to be shared with the board and senior team and has been written with each of their perspectives in mind. Since knowing how to solve the problem yourself is only part of the challenge, securing a mandate to take the rest of the organisation with you is even more important.