With technology changing rapidly over the past few years, it has become a significant thing for companies to place attention in adapting to the latest technology. The business sector stands to gain or lose from technology innovations, and it is therefore in the interest of the business people to ensure that they have aligned their business according to the latest technologies. You can tell that in every month some major technological innovation is coming. In the recent three decades, technological innovations have been rapid. In fact, in this period, many traditional companies have died out of the technological innovations which have kicked them out of business.

 

One person who understands the impact of technology in business is Louis Chenevert. He is the former CEO of UTC. United Technologies Corporation is one of the biggest conglomerate businesses in the world. The company has many conglomerate businesses under it, but the aerospace business is the most popular. Louis Chenevert was the CEO of the company between 2008 and 2014. His tenure made history as one of the tenures which have recorded good results in recent years. He left the company in a better position that he found it. UTC has its offices in Connecticut, and it is one of the multi-billion dollars in the world.

 

UTC has established itself as a reliable manufacturer of jet engines. It has also been working with NASA in creating equipment which facilitates space exploration. The two have been cooperating since 1966. UTC has also established itself as a leading company in supplying jet engines for commercial planes and military aircraft.

 

After Louis Chenevert took office as the CEO, in 2008, he took measures which led to rapid growth of the company at a time when other companies were collapsing due to the 2008 financial crises. In the six years that he was at UTC, the company share value tripled. One of the reasons why he made such success was because he applied technological innovation in running in the company. He made sure that innovations were made. One of the innovations was the development of the Geared Turbofan engine. This is the best-selling product from the company since Louis Chenevert joined the company. He has left, and it is still performing very well.

 

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