For decades, America’s manufacturing economy seemed to be in a state of decline. It is not hard to believe when thousands of the nation’s manufacturing jobs have disappeared. Those lost manufacturing giants include locomotive, steel, and electronic corporations that were once household names. However, there are American companies that have managed to not only survive, but thrive amongst heavy competition around the world. United Technologies is one such survivor. Today, the company manages assets of at least $63 billion. United Technologies headquarters is in Hartford.
The company has also managed to retain its competitive edge without having to abandon its core philosophy of putting people first. The company believes that educated and cared for people will always provide the best products and services. As the former CEO of United Technologies, Louis Chenevert took the approach of building the company from day one. The company had already taken on the task of expanding globally, which spurred revenues to grow from 25 percent to 60 percent.
This growth was due to placing a focus on developing processes and researching the company’s disciplines to become increasingly more effective and productive. Chenevert’s career took off when he joined United Technologies. Under his leadership, the company became a global force. He believed that a CEO is the steward of their company, and that any company should be better off if and when its leader departs. Chenevert placed a great deal of focus on investing in employees and long-term goals.
United Technologies developed a jet engine that changed the industry. The new engine reduces fuel consumption by 16 percent, and harmful emissions by up to 50 percent. Fourteen airlines fly with this engine. No doubt, that number may expand in the future. It was Chenevert’s ability to understand future needs and develop the technology that would meet future needs and demand.
His legacy continues as an innovator in private life where he builds yachts. Click Here to learn more about Chenevert.
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