Louis Chenevert is an icon in the business industry. Many business people across the globe are embracing his mechanism of running a conglomerate. Besides his legacy in UTC, he has had success with other multiple corporations. Fortunately, the investors have not been disappointed. Here are some of his strategies that he uses in his business;
Investing in the Future
The CEO of a company is a steward of the firm. This means they got the responsibility to protect the future of the firm. Louis Chenevert joined UTC when the USA was struggling with the recession period. He watched many firms close down, which subsequently led to unemployment.
In the works for a while – interesting read: https://t.co/ZIU8n9b9Qa
— Louis Chenevert (@louis_chenevert) June 11, 2018
Louis Chenevert led the firm to invest in future high innovative technology. This was his way of ensuring the country never had to deal with the financial crisis again.
Louis Chenevert is known for his wise acquisition ability. He led UTC to purchase the Goodrich firm. The deal took a year of negotiations. Finally, Goodrich agreed to sell at $18.2 billion. This was the most expensive aerospace deal that had ever been closed in the state.
Louis Chenevert also purchased the GTF engine. When he was working in Pratt & Whitney, he realized the GTF engine had the potential to do well. It cost UTC $10 billion to purchase the engine, and an additional twenty years to design.
The acquisitions have proved to be effective. UTC Company is speculated to have the ability to employ 25000 new employees in the near future and launch 5000 innovation programs.
Focusing on the Important Factors
The corporate world is a world for tough minds. There are many counter forces that you have to fight on your way up. Not everyone will support the agenda you feel would be a game changer in the firm.
Louis Chenevert says that it is critical that one learns to focus on their goals. He advises the young leaders to always move ahead with the people who are willing to support the progressive agendas. He adds that the naysayers have a habit to join when things appear to be successful.