Category Archives: Aviation

Chenevert Grows A Strong Business

Louis Chenevert is a business legend up there with the likes of Bill Gates and Steve Jobs. This legendary status is mainly due to his time working as the Chief Executive Officer of the United Technologies Corporation.

 

During his time as CEO of United Technologies Corporation Chenevert created a three-pronged approach that would allow UTC to dominate the aerospace manufacturing sector in both the countries of Canada and the United States of America. (See: frenchtribune.com/teneur/25552-innovative-deals-and-inspired-leadership-characterize-louis-chenevert)

 

The first approach that Chenevert took was to stabilize the profit during the global recession. The aerospace manufacturing industry was hit especially hard during this time. It UTC wanted to compete, they would have to diversify their portfolio. The main way that UTC diversify its portfolio was by acquiring other businesses that were similar to UTC but were not affected directly by the recession.

 

The first company that UTC acquired was Pratt & Whitney. Truly the only thing UTC cared about during this acquisition was gaining the profitable military contracts that Pratt & Whitney had. These military contracts lasted for at least a decade thus providing UTC with guaranteed profit for the next ten years.

 

The second company that UTC acquired was Otis. While Otis is known as the world’s oldest elevator company, UTC mainly wanted it to gain access to the heating and cooling industry. Check out Chenevert on Cruncbase.

 

The third and last company that UTC acquired was Goodrich. Though officially it was the acquisition it occurred much more like a merger. This acquisition allowed UTC to not only create large aircraft for the military, but they could also begin selling them on a commercial basis.

 

The second approach that Chenevert took to help UTC during this recession was to train workers to be better at their jobs. Chenevert believed that the more skilled the worker was, the more value they can add to the company. This worker focus made the worker feel valued and appreciated in this large business.

 

The last approach that Chenevert took to help UTC during the recession was a move toward becoming environmentally friendly. Through his leadership, UTC decreased water consumption by over 50%. Refer to This Article for additional information.