The success of Louis Chenevert has been something that the world talks about every day. Many firms are practising his mechanisms to manage their firms, and they have had great rewards.
Louis Chenevert is the former CEO of the UTC. When talking about the firm, his name must come up because he substantially contributed to the development of the company. The legacy he left in the firm will forever be revised to get tips of doing great in business.
The current CEO of the firm is also using some of Chenevert’s ways of running the conglomerate to see that he maintains the standards he set for UTC. Chenevert valued the well-being of his employees. During the recession period, he moved the idle engineers to other busy sites where their skills were valuable instead of conducting layoffs like other firms.
Louis Chenevert led UTC to invest in the future. He advocated for it saying that it was the only way the nation could be saved from another financial crisis. This might have seemed hard to comprehend at the moment, and a big risk to take but it has proved to be true. The UTC Company is speculated to be able to introduce more than 5000 innovation projects and absorb more than 25000 new employees.
The other beautiful aspect of Louis Chenevert is that he cared about the environment. He reduced the emissions of greenhouse gases as well as decreased the consumption of water. By doing this, the products of the UTC were accepted in many states. He encouraged the heads of other companies to do the same.
The other factor that contributed to the success of Louis Chenevert is the significant acquisitions he did for UTC. The purchases helped the firm gain leverage in the industry. For example, the GTF engine that he bought from Pratt & Whitney is currently being used in more than 14 airlines and 70 aircraft. The projects took the company 20 years to bring to reality, but it has propelled the firm. It also cost UTC $10 billion, but they trusted the decisions and guidance of Louis Chenevert.