Case study

WILLIAMS RACING

Authors: Mirza Bander, Yasmine Harvig & Caoimhe O’Sullivan

Introduction AGENDA
Who are Williams?

Challenges

Discussion

Management Decision

Conclusion
 “I think there’s something incredibly spiritual
almost about Silverstone. It really holds a very
special place in my heart. I want to have my
ashes spread at Silverstone […] I think dad
does as well”

—Claire Williams 2019

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Claire Williams

● Daughter of Sir Frank Williams who founded the team

● Discouraged from pursuing a career at the Williams

company by her father

● Appointed team principal in 2012

● She is currently the only woman to lead a F1-team

● Battles sexism and nepotism accusations

● Under pressure to lift Williams out of its slump on and off

the track

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 The Williams brand

● Williams Grand Prix Engineering by Frank Williams and

Patrick Head

● The Williams family

● Primary shareholder

● Independent constructor

5
Introduction Who are Williams? Challenges Discussion Management decision Conclusion
 The Glory Days
1977 - The beginnings
1980 Team of 17
Numerous podium finishes
One world championship title

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 The Glory Days
1977 - The beginnings
1980 Team of 17
Numerous podium finishes
One world championship title

March Tragedy strikes

1986
Frank Williams is involved in a car
accident and is paralysed

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 The Glory Days
1977 - The beginnings
1980 Team of 17
Numerous podium finishes
One world championship title

March Tragedy strikes

1986
Frank Williams is involved in a car
accident and is paralysed

1978 - Champagne Showers

2011 9 Constructor Championships
1980, 1981, 1986, 1987, 1992, 1993, 1994, 1996,
1997

7 Drivers Championships
1980, 1982, 1987, 1992, 1993, 1996, 1997

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Williams identify with their heritage

Track record Longevity

enduring commitment;
living up to values and
continuation and
promises to
cultivation of brand
stakeholders over time
heritage

Brand Stewardship
History important Core values
guide the brand
for identity internally and
use their history to communication of its
identify with and guide
promise externally
them for the future

Use of symbols
symbols act as identifiers
for both the presence and
what the brand stands for

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Williams’ brand identity and reputation

Relevance Trustworthiness
How appealing and How dependable are their Differentiation
Reputation
meaningful is the value words and deeds? How distinctive is their
they offer? position in the market?

Relationships Position
Value proposition
Competitive for Leader in race car
Creating winning race
investors craftsmanship
cars with technical
Thrilling for fans A legend within F1
precision and artistry
Authentic for Formula 1 construction

IDENTITY
Brand Core Personality
Recognisability Expression Credibility
How distinct, visible and Family oriented How believable and
consistent are their overall A legend in engineering Tenacious convincing are they?
White and blue
communications? excellence determined Resilient
logotype
to maintain its Traditional
independence
Competences
Mission & Vision
Culture
Decades of experience
Produce the best race The team is a family
of car in-house
car and purely focus on Proud of our heritage production
F1 racing, staying true We never give up
The highest degree of
to our heritage
technical skill

Performance
Willingness-to-support How solid and
Responsibility
How engaging and consistent are their
How committed and
inspiring are their quality and
accountable are they?
purposes and practices? performance?

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 2017 - New Regulations ROKiT leaves 2020
2019 - Missing
Williams head
Race day testing
Competitors can buy in
Delays in the
sponsor terminates
more parts. production means their contract
Williams arrives 2 effective immediately
Haas overtake Williams days late to testing. in May 2020 causing
with a car that cost a fifth a massive loss of
less than its competitors.
money

2018 - Martini & Covid-19 2020

Lawrence Stroll The pandemic
leave causes a reduction in
Halfway through the races and as such
season Williams lose income for all F1
their sponsor, investor teams. Williams tight
and their paid driver for budget is hit very
the 2019 season hard from this

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 2017 - New Regulations ROKiT leaves 2020
2019 - Missing
Williams head
Race day testing
Competitors can buy in
Delays in the
sponsor terminates
more parts. production means their contract
Williams arrives 2 effective immediately
Haas overtake Williams days late to testing. in May 2020 causing
with a car that cost a fifth a massive loss of
less than its competitors.
money

2018 - Martini & Covid-19 2020

Lawrence Stroll The pandemic
leave causes a reduction in
Halfway through the races and as such
season Williams lose income for all F1
their sponsor, investor teams. Williams tight
and their paid driver for budget is hit very
the 2019 season hard from this

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 2017 - New Regulations ROKiT leaves 2020
2019 - Missing
Williams head
Race day testing
Competitors can buy in
Delays in the
sponsor terminates
more parts. production means their contract
Williams arrives 2 effective immediately
Haas overtake Williams days late to testing. in May 2020 causing
with a car that cost a fifth a massive loss of
less than its competitors.
money

2018 - Martini & Covid-19 2020

Lawrence Stroll The pandemic
leave causes a reduction in
Halfway through the races and as such
season Williams lose income for all F1
their sponsor, investor teams. Williams tight
and their paid driver for budget is hit very
the 2019 season hard from this

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

Team turns a corner

"Speculation about Williams selling

up because they are not doing well -
well that's rubbish! [...] Frank has
faced greater adversity than we are
facing now and he never sold up”

–Claire Williams 2019

 2017 - New Regulations 2019 - Missing ROKiT leaves 2020
Race day testing Williams head
Competitors can buy in sponsor terminates
Delays in the
more parts. production means their contract
Williams arrives 2 effective immediately
Haas overtake Williams days late to testing. in May 2020 causing
with a car that cost a fifth
less than its competitors.
a massive loss of
money

2018 - Martini & 2020 - Covid-19

Lawrence Stroll The pandemic
leave causes a reduction in
Halfway through the races and as such
season Williams lose income for all F1
their sponsor, investor teams. Williams tight
and their paid driver for budget is hit very
the 2019 season hard from this

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 2017 - New Regulations 2020 - ROKiT leaves
2019 - Missing
Williams head
Race day testing
Competitors can buy in
Delays in the
sponsor terminates
more parts. production means their contract
Williams arrives 2 effective immediately
Haas overtake Williams days late to testing. in May 2020 causing
with a car that cost a fifth a massive loss of
less than its competitors.
money

2018 - Martini & 2020 - Covid-19

Lawrence Stroll The pandemic
leave causes a reduction in
Halfway through the races and as such
season Williams lose income for all F1
their sponsor, investor teams. Williams tight
and their paid driver for budget is hit very
the 2019 season hard from this

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Case question
Assuming the role of lead consultants, how would
you advise Claire about the future direction of
Williams and why would you take this approach?

Things to consider:

What are the pros and cons of the options presented?

Is Williams’ focus on brand heritage justified?

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 MANAGEMENT DECISION

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Management Decision

May 2020
WGPH Board Meeting

● Loss of £13 million

● Covid-19 financial
impact

● Press release puts a

Williams’ sale on the
table

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Management Decision

May 2020 August 2020

WGPH Board Meeting

● Loss of £13 million ● The bidding starts

● Allen & Co. and

● Covid-19 financial
Lazard
impact
● Dorilton Capital
● Press release puts a announced as new
Williams’ sale on the owners
table

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 Management Decision

May 2020 August 2020 2021

WGPH Board Meeting F1 Season

● Loss of £13 million ● The bidding starts ● Claire walks away at

the end of 2020
● Allen & Co. and season
● Covid-19 financial
Lazard
impact
● Dorilton decides to
● Dorilton Capital outsource to
● Press release puts a announced as new
Williams’ sale on the Mercedes
owners
table

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

 The future with Dorilton

● Optimism for the future

● Think outside of the box

● Benefits of outsourcing

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

“I understand it's been a
family business for so
long and they've wanted
to produce everything
themselves but
sometimes you can't”

–Jenson Button 2021

senior advisor
 Concluding
question
Do you think that Claire made the right decision? Why?

Do you think Dorilton’s new approach will keep the

Williams heritage intact as intended, or is their new
strategy sailing them away?

Introduction Who are Williams? Challenges Discussion Management decision Conclusion

Thank you for your time