The United Technologies Corporation is an aerospace manufacturing industry that is valued over $68 billion. Currently in is North America’s leading business and aircraft and jet engine production. This remains true for both the commercial sector in the military sector. The reason that United Technologies Corporation has done so well is because of the wise leadership of Chief Executive Officer Louis Chenevert.
Chenevert strengthened the business of United Technologies Corporation by focusing on three things that he arrived. He focused on stabilizing their income, training and equipping the employees, and meeting current environmental regulations.
The global recession hit United Technologies Corporation, and it hit them hard. Few governments and businesses had the money necessary to buy entire jet engines from UTC. In order to solve this problem, Chenevert decided that it would be better for UTC to start creating parts that could be added to the jet engine and then charging for those repair services. UTC began producing jet sensors, auto-pilot controls, feeling efficiency converters, and auto landing gear. (More: reporterexpert.com/louis-cheneverts-business-successes-past-present-future/)
Chenevert also decided that UTC would be better off if they began training the workers to be more productive. The reality was that after an assessment was conducted, the employees at UTC were found wasting 80% of their time and other things. Chenevert knew that if UTC was to begin turning a profit once again, the workers would need to be working at 100% capacity. Through several workshops and courses, the workforce was educated once again in their job, and through promotions and bonuses, they were incentivized to begin working at maximum capacity. Go Here For additional information.
Chenevert also would help UTC by becoming more environmentally friendly. When he arrived, he realized that UTC’s biggest expense was paying off fines for breaking environmental regulations. He knew that they could not turn a profit if this was the case. By working with the engineering department, he was able to decrease the water consumption by 50% and produce fewer gas emissions by 28%. Read more about Chenevert on Crunchbase.
Chenevert would eventually step down from United Technologies Corporation and take on the consulting position with Goldman Sachs in their banking division. Follow him on Twitter.