Louis Chenevert, former CEO and chairman of the company United Technologies Corporation, has had a major impact on the business world during his career. He began his career by serving as Production General Manager at General Motors for 14 years. Next, he went on to work at Pratt & Whitney in 1993, eventually becoming president of the company from 1999 to 2006. After that, he went on to work at United Technologies Corporation, or UTC, to eventually take on the role he is now most famous for. He was elected President and CEO of UTC in 2008 as well as Chairman in 2010. Chenevert also is a member of the Executive Committees of the Business Council as well as the Business Roundtable. He is also a member of the US-India CEO forum.
Louis Chenevert was able to come in and completely change the future of UTC when he took over as CEO. He was able to realize there was potential in the Pratt & Whitney geared turbofan. He was able to recognize how big of an impact this type of GTF engine would eventually have on the world while he was still president of Pratt & Whitney in 1999. Once Chenevert later began working as CEO for UTC, he had the idea to marry the two companies together. UTC invested over $10 billion and two whole decades into developing this particular jet engine. The GTF is currently flown by more than 14 airlines and on more than 70 different aircraft because it lowers emissions by over 50 percent as well as reduces fuel consumption by 16 percent.
Chenevert was able to realize the importance of investing in technology in order to help the company continue to grow and stay strong for many years to come. His ideas have resulted in many new U.S. manufacturing jobs being created. There are currently Pratt & Whitney plants in New York, Florida, Georgia, Connecticut, Michigan, and Maine. In just the next three years, UTC is expecting to create over 5,000 new positions as well as provide jobs for more than 25,000 people.
Whenever a company is looking to improve its overall performance, it will often devise certain strategies and set policies to achieve this objective. In most cases, companies that are looking to achieve their goals will look to use more effective marketing tactics as well as offer more products and services. However, any company that is looking to improve its overall level of success will benefit by focusing on their employees. One of the best ways to improve a company is to invest in their employees. This entails providing a number of incentives such as awards, a fun work environment and educational tuition reimbursement programs. The chief executive officer of United Technologies Louis Chenevert has recently said that investing in employees is a key to business success.
One of the best ways to invest in employees is to make sure that they are always working in a fun and positive environment. Many people go to work and take the whole experience for granted. A good way to improve a company is to provide employees with a setting that that will make their work experience very enjoyable everyday. One of the ways to do this is to eliminate negative behavior and office politics. It is important to make sure that everyone gets along and is happy to work with each other. Companies will also want to provide their employees with comfortable offices as well as updated equipment and technology. Adding things such as arcades and ping pong tables will also help provide employees with a fun work environment.
The next way in which a company can invest in their employees is to offer a number of award programs. One of the most common awards programs is Employee of the Month. This provides standout employees with the positive recognition that they deserve. It will also motivate other employees to strive towards winning this award. Another way to provide awards for employees is to offer gift cards and certificates. These will allow employees to work towards another incentive. By providing employees with rewards, they will be more likely to work hard, set goals and achieve them. This will help make the company more successful and prosperous in the future.