LOUIS CHENEVERT THE INNOVATIVE ENTREPRENEUR.
Louis Chenevert is currently a retired member after formerly working as the chairman and Chief Executive Officer of United Technologies Corporation. He was in office as President and Chief Executive Officer from early 2008 and as chairman from early 2010 till retiring in 2014. Before joining the United Technologies Corporation, he served at Pratt and Whitney from late 1990s until 2006 as President. He has also acted as a senior advisor in several business councils and in forums.
Louis Chenevert graduated with a degree in Bachelor of Commerce in production management from the University of Montreal. In 2011, at the University of Montreal, he was awarded an Honorary Doctorate. He is a director and chairs several international advisory boards. In his interview about United Technologies, he had the following to say;
The idea for United Technologies came from the variety of ideas that rose from the main executives with a clear picture of the needs of customers. There was also a desire to come up with more improved and desired products within the market. That strategic approach brought about game-changing decisions which were then put into practice. An example is a new engine development which would ensure a 20% better fuel burn, reduction of noise by 50% and fewer body parts thus low production cost.
The ideas are brought to life at UTC by focusing on operational talent and pushing forward only the important ideas. This would ensure that the results produced were higher than what the consumers expected. Maintaining focus on operational teams is also key. One trend that excited Louis is how fast technology accelerates coming from opportunities.
To ensure productivity as an entrepreneur, focus and continuous follow-up are key. Another is ensuring that the specialized operators have all facilities to deliver. Avoiding internal politics due to their disruptive nature will also ensure better results. Ability to get the right team and to appreciate them is key to entrepreneurship. Delighting customers and ensuring risks are rewarded is also another key move.
One strategy that has ensured business growth is being open-minded, ensuring constant focus and ensuring distractions are out of the way. Surrounding yourself with people of like minds makes you a better working team.