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Six traits that distinguish top-quartile performers
The oil and gas industry can learn from the practices employed by high-performing Ferrari.
The ability of Ferrari personnel to thrive in the high-profile and adrenalin-charged environment of Formula One captivated one senior executive at September’s Italian Grand Prix. Watching from the Monza paddock, Ed Daniels, Executive Vice President, Shell Global Solutions, was impressed by the Scuderia Ferrari team’s incredible level of preparedness, ability to perform under extreme pressure and split-second synchronisation.
Moreover, he saw lessons for oil and gas companies to apply in every phase of the business cycle, from the creation of teams through strategy development to ongoing operations. The quick-fire pace of the Formula One season enhances the visibility of these lessons: the motorsport team’s key performance indicators per race can be compared with an energy company’s quarterly or annual performance. Here, Daniels tells Impact what the energy sector can can learn from Formula One’s most successful team.