United Technologies Corporation is a global firm in the aerospace industry. United Technology Corporation engages in commercial activities such as security control, escalator, moving walkway, and elevator sales, and United Technologies Climate. In addition, the company is a leading supplier of air conditioning systems, ventilation systems, fire security systems, and refrigeration systems. They specialized in the selling of Pratt & Whitney engines and the well-known United Technologies Aerospace Systems in the aerospace industry (Aviation maintenance technician handbook, 2012). The company is also taking part in the research. they have the company that carries out research on how to improve the efficiency of their products regarding fuel consumption, the cost of their goods and processes.
In the field of aerospace, the company has put in place measures that help in improving the safety, comfortability, and productivity of the passengers while they are on board, through integration of precision engineering principles with innovation in the field of science and technology
Management Approaches
United Technologies Corporation uses different management strategies to promote the growth of the business across the globe. They mainly use control by the objective approach in doing their business. United Technologies company set sustainable goals after every five years that are aggressive and new. The setting of these goals enables the company to track progress made in its performances in the various business they ventured in. In the year 2015, the company surpassed their set goals that led to positive improvements towards compliance with the health and safety set objectives. The company has also set goals for the year 2020 in the business of aero manufacturing that focuses on the main steps to be implemented that will reduce greenhouse gasses and solvent air emission, industrial waste and water consumption rates. United Technologies company also have set goals for improvements in their sales and how to reach the wider market and to make modern innovation that will enable them to be the leading in the field of aerospace technology (Aviation maintenance technician handbook, 2012).
Method of Conducting Business
United Technologies offer corporate social responsibilities to the surrounding population. The company has maintained to be at the top of their competitors through making continuous improvements to their services. The company has employees that work hard to ensure the set objectives and standards they tend to meet are realized in time, to continue addressing the needs of their customers across the world. For example, they produce aerospace engines that have world recognitions for its energy efficiency and safety. United Technologies located in India has won many tenders of the installation of elevators to great enterprises such as Peninsula business park and other tall, sophisticated offices still under construction (Eccles, & Krzus, 2010).
United Technologies companies also promote innovative ways of ensuring that they increase their profit margins. The company identify the opportunities for growth in the current global market of aerospace maintenance and operation and implement strategies on how to fill the open gap in the market to enable the increase the profit. The second method they adopt in their way of operating the business is making deals that are transformative. In the year 2011, the company made an agreement that helps them to acquire Goodrich Corporation; they also enter into the agreement with Rolls – Royce company. The agreement involves the purchase of the share of the international aerospace engine to become the major shareholder in the deal. They also have partnership deals with MTU Aero Engines and Japanese Aero Engines. The agreement that the United Technologies entered with Goodrich company and other partners' company worth $18.4 led to the acquisition of complementary products that provides the integrated system which meets the needs of their aerospace customers (Eccles, & Krzus, 2010).
Organization around the customers’ needs is another strategy put in place by the United technologies to help in increasing their profit margin. They have adopted new body structures of their company to improve the quality of services they offer to the customers and try to maximize their innovations in the field of technology. United Technologies focus on the provision of advanced commercial and technical solutions in the area of aerospace that made them win the trust of his customers.
To be able to withstand stiff competition in the market of aerospace maintenance and operation, United Technologies has shown commitment to the improvement of execution of its functioning and continuous improvements of quality of their services. To achieve this, they have implemented strategies that help in the management of all their activities. The system they use in the administration of this activities is known as the ACE operation system. This system enables them to rate various activities offered in different branches as either Gold or Silver depending on the quality of services they offer. United Technologies Corporation is making improvements with the ACE operating system. Recently they have come up with ACE suppliers' gold program. It helps in making their key suppliers to make improvements on their performances. The use of this systems also contributes to improving engineering processes and products offered in the field of Aerospace engineering (Aviation maintenance technician handbook, 2012).
United Technologies success in the world market of aerospace is also as a result of their method of combining responsibility and profitability. They achieve it through ensuring that they offer high standards of performances in their branches and measuring success using their operation system. In united technologies corporation, they believe in the combination of social corporate responsibility and profit making. The company is committed to minimizing the environment impact of the various projects they do across the world. Also, the company provide the working environment to the workers and supports staff development project through furthering of their studies.
Role of United Technologies in The Global Market
The company plays a vital role in the global market in the aerospace maintenance and operation. The company establishes branches in various markets where they have I identified an opportunity, they also partner with other companies for mutual benefits. The company employs people from their local area of operation and promote them. They establish many manufacturing companies in various markets and adopt the use of technologies that will help them to continue meeting the needs of their customers (Soana, 2011).
The business has set up new branches in China and India. In China the business has expanded its manufacturing and sustainability in the field of commerce, they acquired the Shandong Fuerda company that was dealing with air conditioning systems and for a long time the leading provider of geothermal heat pumps and water sources. Otis which one of the business in the United Technologies group chose Chonging site to be the sixth elevator factory in China (Boritz, & No, 2009).
In India United, technologies have expanded their operations in the field of manufacturing and their commercial activities; this is realized through localization of the United Technologies air – chiller in Gurgaon facility. This company is currently producing high – efficiency Aqua Thrust 30XA that helps in serving the fast-growing Indian population. Their business in the field of aerospace has improved that transport of people and perishable this has promoted business activities in India.
United Technologies also play another vital role in the world's economy of helping to build new global aviation hubs. Their aerospace company known as Pratt and Whitney has expanded its branches in Chengdu in China that manufactures many airplane spare parts hence promoting the expansion of air transport. They also invested in India where the first fully assembled Sikorsky also known as S – 92 was completed in the year 2011 October and later shipped to the United States. Sikorsky became the supplier of Tata advanced system company that was initially in the field of building and supply of cabins. Localization of this company contributes to the creation of more employment opportunities in the different part of the world hence improves the living standard of many people in the world (Aviation maintenance technician handbook, 2012).
United Technologies also paly another vital in the global economy of tackling some of the world's largest building projects, Otis that is a branch of United Technologies group continue providing energy efficient products and other constructions solution to most of the recently constructed tallest and biggest buildings (Fu, & Soete, 2011). An example of the building they have built is the Kohinoor Square that in Mumbai India. In China, Otis has supplied and install 700 energy efficient elevators in many houses and also constructed upper social housing in Jiangsu China. This social housing is believed to be one of the Otis large winnings as it intended to provide elevators services to 16000 units of the housing.
In conclusion united technologies provides has made the positive contribution in the world more so in the field of the aerospace sector (Fu, & Soete, 2011). They have provided innovative measures that make the plane more efficient and comfortable also they have established manufacturing systems that produce airplane engines and spare parts thus improve air transport across the world.
Reference
Aviation maintenance technician handbook. (2012) (1st ed.). Newcastle, Wash.
Fu, X., Pietrobelli, C., & Soete, L. (2011). The role of foreign technology and indigenous innovation in the emerging economies: technological change and catching-up. World development, 39(7), 1204-1212.
Boritz, J., & No, W. (2009). Assurance on XBRL‐Related Documents: The Case of United Technologies Corporation. Journal Of Information Systems, 23(2), 49-78. http://dx.doi.org/10.2308/jis.2009.23.2.49
Eccles, R., & Krzus, M. (2010). One report (1st ed.). Hoboken, N.J.: John Wiley & Sons.
Soana, M. (2011). CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE: EVIDENCE FROM THE FINANCIAL SECTOR. Corporate Ownership And Control, 8(2). http://dx.doi.org/10.22495/cocv8i2p3
