The success of an individual is determined by their strength to overcome the hardships that life will present along the way. Success is not for the faint-hearted, it is for the people who are ready to make a difference in their life by doing whatever it takes. Most things sound like a cliché, but the truth is they don’t just work because people don’t practice it.
A worthwhile, quick watch on maintaining momentum with innovation: https://t.co/t0aA5Z7TVu
— Louis Chenevert (@louis_chenevert) October 16, 2017
Louis Chenevert is among the people who investors can seek inspiration from to make a difference in their career. Chenevert created a legacy by transforming the United Technologies Corporation to the biggest profit making firm in the USA during the financial crisis. He did not follow what people thought was right to do at the moment, he thought about what was right for the future of the company, and even though most firms did not take risks that he took; he made it.
When Louis Chenevert got the CEO position of UTC, the state was going through a recession period. Many firms were closing down, and for those companies that were lucky to remain in business, all they wanted was to get past the recession period. Some conducted layoffs while others got the idea of moving their production units to other nations.
Louis Chenevert had a different style of getting past the financial crisis. To begin with, he had in mind that he could eventually need the employees to evaluate the plans he had for UTC. He moved the engineers who were in exhausted sites to other places where their skills were required.
The other thing that Louis Chenevert did was to help the UTC secure their future. He led the firm to invest in the future. He saw this as a strategy to safeguard the future of UTC and the USA. His approach was well-thought because today, UTC is expected to employ 25000 more employees in the future.
The acquisition of the Goodrich Company contributed to leveraging UTC. This was the most expensive deal that had ever been closed in the aerospace department. The GTF engine from Pratt & Whitney took long to develop, but the firm is now reaping huge benefits from the project.