Louis Chenevert On Important Factors To Run A Successful Business
Growing a business takes a certain amount of skill, drive, and ambition that must be carried out the whole time. You must have a vision that exceeds the initial goal. That is a business person set out for greatness.
In the works for a while – interesting read: https://t.co/ZIU8n9b9Qa
— Louis Chenevert (@louis_chenevert) June 11, 2018
Canadian businessman Louis Chenevert has used certain strategies to grow United Technology Corporation to unbelievable heights of success. He was able to accomplish this with an open mind, laser focus, and to eliminate the rock blocks. Most importantly it is important to think big. Create a big overarching goal for the company so you can start working at it one day at a time. Also, creating a good team of success minded individuals is crucial to elevating your chances of success. Celebrate every victories as a team. Mr. Chenevert says that paying attention to internal politics is important because it can dictate whether the business becomes successful or not. He learned this from his first job at General Motors. He worked the 2nd shift at an assembly plant as their first line supervisor. Management were not keen to listening to employees suggestions. That was very frustrating for Louis to witness and so from that day on he pledged to listen to his employees. That is the business model he has ran by for the past four decades. Louis also remarks that not to tolerate people who are not on board with the team goal. This will only drag down the company and efforts to move forward.
As Former Chief Executive Officer and Chairman of United Technologies Corporation Mr. Chenevert drove business up and put the corporation on the map. With a larger than life vision and relentless focus Louis accomplished quite a bit. One of his visions was to change the face of the aerospace manufacturing industry by incorporating only the most advanced technology into their jet engines and other components. For example under this idea they were able to reduce noise by 50 percent and reduce fuel burn by 20 percent for their GTF engine. UTC was able to also cut the lifetime costs of the engine by 30 percent, which is quite a lot.