Innovative Technologies Louis R. Chenevert Believes Are Quickly Changing Industries

In a recent article, Louis R. Chenevert, Chairman & Chief Executive Officer of United Technologies Corporation, broke down some of the essential technologies that are having a tremendous impact on some of North America’s largest corporations. During his time at UTI, Chenevert has noticed one important fact; it’s critical to always look ahead beyond the current horizons of your industry and try to figure out what the next ‘big’ thing is going to be. This is why staying on top of the latest technological developments in your industry is essential to a company’s overall success. Listed are just a few of the most recent technological advances that helped shape entire industries.

 

The Automobile Industry Past and Present

 

Close your eyes and go back in time 90 years to the early 1930s. At that time most of the cars where steam-powered with small boilers built directly into the engine. As time progressed, Fords Model T became increasingly popular with the majority of new engines being converted from steam to gas. This advancement increased both safety and efficacy for newer vehicles. Louis R Chenevert understood that investing in the research and development of new technologies was essential to UTC’s success. In 2008, this paid off when the company released a new and improved F135 engine featuring a sole source position leading to a completely redesigned military propulsion system that offered a 7 to 10 percent increase in thrust and propulsion with a 5 to 7 percent increase in improved fuel efficiency.

 

Another victory won by Louis Chenevert related to the development of a better GTF engine. This resulted in a final product that boasted a twenty percent increase in fuel efficiency, a fifty percent reduction in noise and thirty percent fewer moving engine parts. These advances mean the new and improved GTF engine will last longer and exhibit a greater efficiency when compared to its older counterpart. Looking into the future, Louis Chenevert believes technological advancements in automation and artificial intelligence will completely eliminate the need for human factory workers. Furthermore, with the advent of Google’s self-driving cars, it’s very likely that fifty years from now, most people will quit driving altogether.

 

Louis Chenevert earned his Bachelors of Commerce Degree in production management from the University de Montreal. He is the founding director and Chairman of the Board of Directors for the Friends of HEC Montreal.

 

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Louis Chenevert career growth in the aerospace industry

Louis Chenevert worked for General Motors for 14 years. He was based in a plant in Montreal. After spending a decade and a half in this industry, he felt the need to transition to another industry. There was nothing wrong with the auto industry, but he felt he needed to spend his life doing something else. Chenevert was influenced by a fellow worker and a friend Karl Krapek to join the aerospace industry. He felt that the experience he had gained from the auto industry would help him establish a solid career in the other industry. Krapek who influenced his transition would later become the CEO of United Technologies Corporation before Louis Chenevert.

Louis Chenevert took the advice of his friend and joined the aerospace industry. He started by working as production manager for Pratt & Whitney Canada in 1993. This plant was a division of the Pratt & Whitney company based in the United States. This division dealt with the production of small jet engines. Pratt & Whitney is a business unity under United Technologies Corporation.

After three years at the Canadian division, it was now time for Chenevert to get his first promotion. He became the executive vice president of P&W in the United States. His performance in the Canadian division had been noted and when there was an opportunity to fill a vacancy he was the best person suited for the job. In just one year after joining PWC, he lowered the operating cost by 10 percent. He was applying his experience in the assembly lines to streamline the operation in this new company. He managed to bring down the time taken to produce one jet engine from two years to nine months.

In 1999, Louis Chenevert was made the president of P&W. He took over when the company was not doing well. His experience would, however, prove vital in resuscitating the operations. He was skillful, dedicated and had the qualities of a leader needed to bring the necessary changes. While the company was prone to downfall, he moved in and made a series of changes that changed the company entirely. His efforts were finally recognized in 2008 when he was appointed the CEO of the whole conglomerate, UTC.

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