Louis Chenevert was the CEO of the United Technologies Corporation (UTC) from 2006-2014. The change he made in the corporation has led to millions of investors reading about him. Some have gone to the extreme of using the mechanisms he uses to run his businesses. They have testified that the ways are very effective. He is known for his ability to make meaningful acquisitions. He is also a great visionary.
Louis Chenevert has a lot of values that have contributed to his success in the industry. First, he understands the value of his team and the impact they got in the output and sales of the firm. When Louis Chenevert joined UTC in 2006, the state was going through a tough financial crisis. Multiple firms were conducting massive layoffs to reduce the output cost. Others were on the edge of closing down and just wanted to stay in business. Some business moved their production units to other countries where they could obtain cheap labor.
Louis viewed everything in a different dimension. He combined all his employees in one place where they would be productive and come up with creative solutions. He argued that cheap labor would only lead to low-quality services. He also had a big vision for UTC, and he needed a strong team to actualize them.
Workforce: How A&D Stacks Up Against Silicon Valley https://t.co/4LwkbgyUG2
— Louis Chenevert (@louis_chenevert) September 14, 2017
Louis advises the young investors to be careful with who they let in their team. He says that one is only as good as their team is. It is, therefore, critical that they empower them. This helps when it comes to duty delegation because you can comfortably delegate duties with no doubt of the quality of work they give.
Louis Chenevert led UTC to the purchase of the GTF engine from his former boss, Pratt & Whitney. He saw the potential of the engine when he was an employee in the firm. The GTF engine cost the firm $10billion and a duration of two decades to design, but it has been very beneficial in the long run. It is currently being used by more than ten airlines in 70 aircraft.
The impact Louis made in the UTC will forever be remembered.