The champagne and wine were flowing. The hors d’oeuvres were being handed out left and right. The laughter of women could be heard and patting on back of proud men resounded throughout the halls. All of the previous chief executive officers came to the podium and told of their days at United Technologies Corporation. Finally after all had transpired, Louis Chenevert took to the stage. The applause was so loud that most people could not even hear themselves think. He regaled them with stories of the hard times of United Technologies Corporation but also of the good times which showed that the company could endure no matter what this crazy world threw at them.
After he got off the podium, other executives told the three-part structure that he used to grow this business. His first strategy was simple; increase the profits to offset the expenses. United Technologies Corporation was hit extremely hard during the time of the recession. This recession ransacked many corporations and almost destroyed UTC. He knew that the main product of UTC, jet engine parts and flight sensors, would not be able to sell in that economy. If they wanted any chance of survival, they needed to sell other products until the economy settled out.
He secured the military contracts and infrastructure contracts from Pratt & Whitney and Otis in order to be able to create a sustainable income for the United Technologies Corporation.
The second strategy that he employed was to systematically go throughout the business and decrease the spending that was unnecessary. He noticed quickly that the company was spending $15 million to hire a third party organization to transport their own goods. He rightly saw this as a useless contract and immediately canceled it the moment the contract would allow.
The third strategy he used was to ally with the American and Canadian governments by being a lead example in adhering to environmental regulations. This got him in good with lobbyists and politicians was awarded him many government contracts in order to provide United Technologies Corporation with a consistent income streams it needed.
The American economy is currently run by the private companies that are dedicated to their course. The companies are dedicated to the provision of quality services and favorable working environments which improve the status of the economy. Today, OSI GROUP is among the biggest companies in the country. The company has made significant improvements which directly affect the economy of the country. The growth rate and the working conditions have been supportive of the country, and it is currently ranked among the best performing private companies in the country
The value of OSI GROUP
The company was started in 1909 with the intention of supplying the needs of the people with food products. When it was started, the company did not have the focus on competing in the global market. Decades after decades, the operations became better as the value of the company kept increasing. By the time the operations were starting, the OSI GROUP only focused on drinks like coffee and tobacco. The operations offered a better market as the customers kept increasing in number. The demands of the customers led the company to increase the number of employees. Currently, the OSI GROUP is one of the companies with the highest number of employees. By the end of 2016, the OSI GROUP had a total of 20000 employees who were tasked with different operations. With this number of employees, the company has managed to be among the best performing with a current worth of $6.8 billion.
The dedication of the management
Since the inception of the OSI GROUP, the management has been focused on different targets. Each management tenure offered different targets which they had to reach. The operation techniques focused on the creation of a better market where the company could maintain its large customer base. The management is to be held responsible for the different cases of failures.
The contribution of Sheldon Lavin
By the time that Sheldon Lavin was taking control of the company, the operations were reduced, and profitability was a bit low. The CEO and the Chairman of the company took the positions of their responsibilities on how to make the company great. Sheldon’s success speaks for itself. He has improved the status of the company by ensuring quality services and the satisfaction of the customers. With each management in place, Sheldon Lavin has created a positive image, and all the other food companies look up to OSI GROUP for managerial mentorship.
Read More : Sheldon Lavin, Chairman And CEO Of OSI Group, LLC