When Louis Chenevert joined United Technologies Corporation (UTC), he had one vision; to make the company better than he found it. He was determined to change the business prospects of the corporation by investing high potential projects that would turn around the fortunes for the corporation especially at a time when the world was facing the global economic depression of 2008. Louis Chenevert, who is a Canadian-French, had worked in other big corporation and therefore had the requisite knowledge and capability to run a big corporation like UTC, which is worth over $100 billion successfully. He was the general manager of General Motors. Louis Chenevert was between 2008 and 2014, the chairman and the chief executive officer of UTC.
As the senior-most business executive tasked with overseeing the operations of the corporation, he had to take measures that would ensure that the corporation conquered the aerospace industry in North America and the whole world. Louis Chenevert made huge investments in the areas of human resource and technological innovations. He insisted on these two as the foundation of the corporation and therefore deserved the largest share of the corporation’s capital investment. Louis Chenevert believed that for technology to be fully implemented, there first needs to be a skilled and knowledgeable human resource. The two go hand in hand, and none can perform efficiently without the other.
One of his achievements was the purchase of a number of corporations that would provide value addition to the corporation. He first oversaw the acquisition of Goodrich by UTC. He then oversaw UTC’s Pratt &Whitney win the tender to become the biggest supplier of F-35 jet engines to the U.S military. Before Louis Chenevert was appointed the CEO of the corporation, he was in charge of UTC’s Pratt &Whitney unit.
UTC is today the biggest manufacturer and supplier of helicopters in the U.S.https://www.bloomberg.com/news/articles/2015-09-08/goldman-sachs-hires-former-united-technologies-ceo-chenevert
Manufacture of helicopters is carried out at the UTC’S Sikorsky unit. The corporation also dominates in manufacture air conditioning products. UTC is also the number one supplier and manufacturer of the best efficient jet engines in the world. Their jet engines are fuel efficient and low emissions.
Despite the numerous technological advancements in various fields including health, finding a platform to merge data and technology with the view of fighting cancer has proven to be a significant challenge. It is this challenge that entrepreneur Eric Lefkofsky has taken on by cofounding Tempus. Tempus is dedicated to using technology and structured data on cancer patients and their treatments to develop precision medicine for cancer treatment.
Through its platform made up of analytics software, Tempus aims at streamlining the copious clinical data on cancer patients by digitizing the data. This will be used to develop a structured cancer patient database. Through gene sequencing, the company hopes to create a genomic database for cancer patients that it can then use to develop precision medicine for treating cancer and better cancer management practices. This new development marks a significant milestone for the University of Michigan Law School-trained lawyer who has a strong passion for helping cancer patients and their loved ones and more information click here.
Career and Education Background
Eric Lefkofsky attended the University of Michigan – Ann Arbor where he graduated with an undergraduate degree in 1991. After graduating top of his class, he rejoined the university’s Law School in 1991 for his Juris Doctor degree. However, after graduating in 1994 he did not opt for law practice; he instead embarked on an entrepreneurial journey that unrivalled success. He started his entrepreneurial journey in 2001 when he founded InnerWorkings. Three years later, he added to the branding company with the founding of a logistics company, Echo Logistics. In 2006, Mr. Lefkofsky tried his hand in the financial investment sector with the founding of MediaBank and Lightbank five years later. He also cofounded the hugely successful Groupon in 2007 and Uptake in 2014 and learn more about Eric.
In addition to actively engaging in the management of these companies, Mr. Lefkofsky also serves on board of Lurie’s Children’s Memorial Hospital and Art Institute, all based in Chicago. He also serves on the board of Steppenwolf Theatre Company where he is the chairman of the trustees’ board. University of Chicago’s Booth School of Business hired him as an adjunct professor. He previously served as a lecturer at various universities’ business and management schools.
More Visit: http://lefkofskyfoundation.com/about-eric-lefkofsky/
Building a legacy is the best way to ensure you are remembered. Louis Chenevert understood that throughout his career as a businessman and worked hard to ensure that the company he led was both profitable and successful while he was running it, but also that it would remain that way in the future. Investing in your company and its future potential is how you create that legacy, and Chenevert invested in the technology that United Technologies needed and the people that could shape its future.
The products and designs that United Technologies are bringing to the market now were started decades ago, both in funding and through research. Without those early investments, the company would not be able to compete within the industry or place itself as a leader in innovation. Chenevert knew this and made it his mission to place the company at the forefront of change and standards that were above and beyond those set in place at the time of conception
Chenevert’s background in production management, combined with an understanding of the fast pace of the aviation industry, kept him focused on the future growth of the company. Investing in both his legacy, and the company’s legacy, allowed for manufacturing to continue even when the economy was weak and other brands were downsizing. Extending the reach of those investments to the companies that it works directly with is also important to securing the future of the company. Any company can only grow as much as the people that it relies on.
That final concept was something that Chenevert used to help build the best legacy for United Technologies. By supporting employees and their futures, he established a way to ensure growth, innovation, and excellence. Through encouraging employees to continue pursuing knowledge and add to their talents the success of the company was created by the employees.