Formula 1 - Mercedes-AMG Toto Wolff

Question 1

Describe the techniques Toto Wolff used to create the winning F1 team

Answer 1

1. Set High Standards
2. Focus on People
3. Practice Debriefing
4. Do not fixate on blame
5. Manage Superstars
6. Avoid Complacency

Question 2

Describe Setting High Standards

Answer 2

1. Details matter (e.g., Wolff addressed the look and cleanliness of the lobby and restrooms).
2. Motivate others to care about such details (may involve symbolic leadership).
3. Can precipitate a culture of excellence throughout the organization.

Question 3

Describe Focusing on People

Answer 3

1. Employees are the most valuable assets; nothing can be done without them; relationship
   building facilitates trust, information flows, and extra effort; care for the whole person.
2. Cast visions and missions, identify core values, and establish goals and objectives; helps
   ensure that all employees understand what the organization is trying to accomplish.
3. Can foster a more cohesive and driven culture

Question 4

Describe techniques for practicing Debriefing

Answer 4

1. Analyze both successes and failures to discover strengths and weaknesses.
2. Identify and address problems proactively.
3. Can promote a culture of continuous improvement.

Question 5

Describe ways to not fixate on blame

Answer 5

1. Support those who make mistakes (within reason).
2. As a leader, take the blame for mistakes made by followers.
3. Can foster a more open and honest culture (e.g., individuals do not seek to hide mistakes).

Question 6

Describe ways to manage superstars

Answer 6

1. Star performers account for the lion’s share of performance outcomes in many knowledge-
   and skill-intensive settings (e.g., science, software development, and sports).
2. Leaders must create contexts that allow those performers to thrive, while maintaining
   authority; it also is important to be transparent and communicative with other employees.
3. Can foster a culture marked by mutual respect.

Question 7

Describe ways to avoid complacency

Answer 7

1. Loss aversion: losses tend to produce stronger emotional reactions than gains (or wins) do;
   demonstrated in countless studies (not merely in sports, but also with financial outcomes).
2. Some leaders are driven to “not fail;” they use this drive to avoid complacency; they have
   respect for their rivals’ ambitions and capabilities, try to outperform their counterparts at
   other organizations, and encourage their employees to do likewise.
3. Can foster a competitive and aggressive culture.

Question 8

It probably is easier to develop a winning culture at the outset; it is much more difficult to change a (low performing) culture once it has been established.

Answer 8

true

Question 9

In both cases, it is critical to attract, select, motivate, and retain the right people (and to
discipline counterproductive behavior and perhaps dismiss the wrong people).

Answer 9

true