Posted: April 7th, 2015

Formula 1 races

Formula 1 races

Part 1
Formula 1 races takes place on five continents with an annual audience between 500 to 600 million. This coming year there are twenty races planned, some of the circuits have problems with selling all the tickets.
The dwindling audiences at the various venues (e.g. Germany) are becoming major concerns if the live events are to continue at some of these circuits.
Select a circuit which has a dwindling audience to investigate. Use soft systems methodology to evaluate the problems of a dwindling live audience at the circuit.  You should outline the essential components for ‘effective business operation management’ to provide rich experience for live audience at the track. Support your discussions with appropriate business operations models (i.e. operation strategy priorities model, customer value, the service gap model, four v’s profile etc.)
Part 2
For the new system you should include a Root Definition, CATWOE and produce a detailed “Rich Picture” (hand drawn) to illustrate your answer. Your rich picture must indicate some of the problems which occur as a result of a reduction in attendance at race tracks and the solution. (Not included in the word count).
By means of a business process plan illustrate the changes including “AS IS” and “TO BE”. Detailed explanations of both plans are required and support your discussions with relevant literature. (Business process plans not included in the word count but explanation is included).
Part 3
Discuss how the managers would turn performance objectives into operations priorities and the resources that would be necessary for effective implementation of the new process (about six hundred words).
Using a Balanced Scorecard, discuss how the business performance can be measured post implementation (refer to the last two years of any relevant data for improvement and target trends for the circuit). (Balanced scorecard charts are not included in word count but discussion on each prospective is included, hundred words for each prospective)
Your work should be referenced including in text referencing with appropriate literature and form a logical and concise discussion.