What is the fundamental change and growth, United Technologies (UTX), David has lived under the guidance of George watch? Since 1992, the Company has a total shareholder return produced by 338%, international sales grew 25% to 60%, the market capitalization grew from $ 6B to over $ 72B, the gross operating profits increased from 5% to 14% and EPS grew by 105% in the last five years.
In a recent speech to leading innovation in the series visit the dean of MIT,George has shared ideas and how the company was able to maintain the gains in productivity each year between 5-7%. He noted that "there is no force stronger than the productivity of the economy, and is the reason that UTX and the stock market in general have done so well ..."
Some examples of world-class improvement in productivity with UTX include:
The carrier business unit of production of air conditioners increased from three million to 11 million euro, for 12Years, with a growing workforce, only 9%.
Otis Elevator experienced a threefold increase in the number of elevators, and related maintenance contracts doubled over the past 12 years with a staff of only 25%.
At Pratt & Whitney aircraft were built in batches, dirty plants in 1990. Today reminds replaced the sequential production of mass production to lean production days, where the work is carried out in facilities immaculate in every stateCells. This eliminates the hand-off, inventory and quality control between the phases will move upstream instead of inefficient processes at the end of the line.
In 1968, Mean Time Between Failures (MTBF) of 747 turbines of aircraft, including 2,500 hours on Pratt & Whitney. Aircraft flew an average of 5,000 hours per year, so that the planes were designed with four engines. Today for a MTBF is 170,000 hours-777 turbine and aircraft are designed with two turbines. MTBF is increased from 6 months to 34 years.Yes, you read that right!
In the area of energy consumption is more than UTX in size over the past nine years, doubled, but its energy consumption 18% less.
The focus of the Productivity Transformation is the operating system of the United Technologies as a competitive advantage Excellence (ACE) is known. The main goal of ACE is around the belief that every person should be set up at the junior workers involved with continuous improvement, top-down manager. You also needManagers to lead by example and that any request with the ACE philosophy. Part of the ACE operating system is a philosophy that focuses not only on process improvement, but places equal emphasis on the human element. This methodology seems to be a customized version of TQM, ISO 9001 and Lean Six Sigma, which seems to work is exceptionally good for UTX.
George offered a strong opinion on how to solve global warming and oil dependency in the Middle East crisis. Hecommented that energy conservation is the best short-term solution, because promising technologies such as hydrogen industry two or three decades away. Capturing the energy increases, the central power plant stack and implementing proven energy management measures can have a significant short-term impact on the climate of all commercial, industrial and private.
In the field, led by George stressed that he is not a book to be written in the near future, but, What has worked for thirty years has been the most practical. Here are some of his leadership beliefs:
If you have more ambition than the energy we are doomed to failure.
Relentless constancy of purpose is essential (citation Deming).
Education is a force that changes lives and makes people better.
Bring your problems, solutions to your leaders.
Going down is not high. Give your leaders the courtesy to evaluate your work without your help.
Principled people are predictable.unscrupulous people are unpredictable.
Intergalactic forces are at work. The belief that circumstances and luck plays a role at times, and that he was the recipient of these forces in his career.
In building a great brand in the contract market and customers that is great about the products and services. Typically, customers will not be on prices and on the edges, but they give you one last look. George David of United Technologies and has received a disproportionate share ofLast appearance and the Company's projects grow operating profit margin of 14% to 18% or more in the coming years. It 's time to buy some UTX on a strategy of energy?
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