Louis Chenevert’s Success at United Technologies Corporation

The modern business world requires investments to be able to create a sharp cutting edge for it to be very competitive. This issue is well understood and comprehended by the former CEO of the United Technologies Corporation, Canadian businessman Louis Chenevert. The current CEO, Gregory Hayes also has the insights on this issue and firmly believes in it. Stewardship is essential obligation quality in their leadership. With very knowledge, they involve themselves in businesses that are focused on the future using the most current technology.

The quality of stewardship to them as leaders includes carrying out investments that are based both on the innovation procedures and in people as well. The primary investments that Hayes plans to do are to try and make the company he oversees better than it was when he stepped in. He believes that the human resources are critical and well knows that they are the people that make innovations and not the company itself. UTC’s philosophy is played in the company as he cites the scholarship program for the employees. The scholarship enables employees to further their studies in the degree of their choice.

United Technologies has taken on the interest to invest in the GTF Engine that was developed by Pratt and Whitney. The whole investments according to Chenevert took them around twenty years and cost $10 billion. Chenevert introduces a way of generating profit to the company through market share immediately he joined the company. The American economy dwindled in the year 2006, but Chenevert who was the CEO by then was able to make a significant achievement for the company during the period. During this time, the company was able to be the top as it surpassed more powerful companies such as Bethlehem steel, Zenith, and the RCA.

UTC deals with the assembly of the world’s most advanced jet engines. It is known for the construction of the top helicopters in the United States. It also dominates the refrigeration and air conditioning industry. UTC produces a range of aerospace accessories including landing gears, sensors, and actuators, flight controls among others. GFT engine includes technologies that bring in a lot of improvements on the jet engine. The engine is designed with only a few emissions, and it consumes fuel with a quantity that is less than in another engine by 16 percent.