The Innovative Ideas of Louis Chenevert

Louis Chenevert is the former CEO of United Technologies Corporation. Chenevert is from Montreal, Canada. He believes that for any modern company to succeed, it must invest in the latest technology. Only such a step can give a company a competitive edge over others. It is good to note that this technology must be unique from the rest in the market. Chenevert as a business executive believed that as the CEO of the company he had the responsibility of making sure that the company was heading in the right direction.

At UTC, Chenevert was required to take the company through a tough economic time. He took over the mantle in 2008, at a time when the global recession had hit rock bottom. Chenevert first thing at UTC was to i8dentify the areas that needed improvement. He identified human resource and technology as areas that he needed to make some changes. The workers are the driving engine of any company. It, therefore, means that for there to be a breakthrough in a company the workers must be willing to play their role wholeheartedly. Chenevert saw it wise to work on the wages of the workers in the company so that he could boost their morale. He also decided to change the culture of outsourcing labor. He employed skilled workers from the nearby regions. The cost of outsourcing human resource was costly and never really brought the desired output.

Secondly, Chenevert noted that the technology that was being used in the company, though advanced, was not working for the best interests of the company. He came up with the idea of investing in technology that would see the production of new aircraft engines that were less fuel consuming and with lower gases emissions. As a former CEO of Pratt & Whitney, he oversaw the creation of the first geared turbofan engine. When he joined UTC, he brought the idea of combining the GTF engine with the United Technologies to create an engine that would be appealing in the aviation and aerospace industry.

UTC invested about $10 billion in creating of this new aircraft engine. Today, UTC is the biggest supplier of aircraft engine and parts in the whole world. Its engines are used in the construction of commercial and military planes.

1 Comment

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