Walk into the AT&T Williams garage at any circuit during the Grand Prix season and you won't ever find a big book with 'Strategy' stamped on the front. In Formula One, strategy is as fluid as the oil that lubricates the race car engines.
It's the same in business. The world's most successful corporations can't operate within an inflexible set of rules. To make it happen, on and off the track, strategies need to be flexible enough to meet the challenges and make the most of the opportunities that present themselves.
The most successful strategies recognise that no one can predict the future. An F1 race engineer can't predict what's going to happen on lap 43 of the Brazilian Grand Prix, any more than a business leader will know years in advance what's going to happen in the economies they do business.
However, business teams – and sporting teams – can reduce the amount of guesswork required by carrying out a clear and honest assessment of their own strengths and weaknesses, and gathering information about the competition and the environment.
Although rigid, pre-determined strategies are seldom the answer, it's not to say that Formula One teams and businesses won't have a strategic direction. For the RBS-sponsored AT&T Williams team, that is likely to be achieving the highest possible finish in the drivers' and constructors' championships.
For RBS itself, the strategic direction is clear – to generate superior and sustainable value for shareholders, and to add value for customers and employees.
How well both achieve their visions will be decided by the choices (the strategic decisions) that are made along the way – and how quickly they can each react to the opportunities that arise.
The ability to react quickly is usually determined by a company (or team's) internal culture. The Royal Bank of Scotland Group's 'Make it happen' ethos is characterised by clear responsibilities and reporting lines, and reflects the importance of making quick, informed decisions at the highest levels, and then doing everything required to get the job done.
And, of course, anyone who has seen one of the top F1 teams perform a seemingly effortless, 10-second pit stop will understand the benefits of great teamwork.
The best strategy delivers good results time after time. That's how RBS has grown from its first customer in 1727 to being a leading world bank today. And, while pulling out all the stops to win one F1 race is undoubtedly important – it's sustained excellence that will lead to the truly big prize at the end of the season.
Find out how sharp your decision-making skills are by playing the RBS Race Strategy game (CLICK HERE)
