Lettersnatcher

Ferrari is a company that sells a luxury. They sell unique, luxurious cars that offer personalized experiences for their customers. They make just 1,000 cars a month for the most discerning customers in the world.

What makes Ferrari tick? How has it sustained itself remarkably well? According to CEO, Benedetto Vigna, the people who work at Ferrari are crucial. They have helped the company grow over the last 8 decades.

In a Harvard Business Review Cold Call case study (2023), the focus was on Ferrari’s quest to be a fully carbon neutral company by 2030. Yet, the greatest takeaway for me was Vigna’s leadership style. He says there is a “sense of belonging” and employees work harmoniously every day.

A collective family makes Ferrari sell a highly personalized luxury that is sustainable, culturally relevant and takes into account the buyer’s feelings and outlook on life.

Vigna says every employee has a unique sense of belonging, a close attachment to what they are making. They are empowered and respected and this leads to uninterrupted seamless production of a luxury product. “You can see it in their eyes,” Vigna says in the HBR Cold Call.

There are so many luxury car manufacturers out there. But Ferrari is the only luxury company that is making a car. Why? It is made by people, the greatest resource in any enterprise.