Good day everyone. I want to share with you a problem regarding the sport we love.
These days F1 faces different problems in entertainment - Regulations change every day, One team gain an unfair advantage because of the successful adjustment to the regulations, Unfair penalties, No track fights(overtakes), New tire regulations could not compensate refueling remove, Old-fashioned intuitive management,etc. I think the board is lucky that all factors vary in 1 second on a track and they can save a density, but will it continue to happen permanently?
There should be a balance in strategy to fulfill needs of teams, fans and sponsors. They did a great job by ruling 3 wild dogs with just 1 leash but this method is succumbed.In my opinion there should be a scientific approach by testing all sport,technical and entertainment factors, considering modern finance. I guess it is time for revolution, not evolution. Because the negative trend line will hit a trough one day.
Thus, i am going to write my own version of Formula 1 growth strategy. I have my own framework that i name ''love triangle'' where fans(1) love teams(2) but dont like sponsors(3), teams love sponsors(receive money) but not fans(demand equal competition), sponsors love fans(purchasing their products) but not teams(pay them money). I want to 1)analyze business model of F1, 2) Identify success factors 3) Identify demand by fans,sponsors,teams and a federation 4) And based on this information to prepare a strategy.
Need in your opinion. Thank you