1. What makes George David such a highly regarded manager?
* Best Educated Manpower
One of George David's most notable good deeds was to set up a landmark of $60 million per year employee scholarship program in 1996. The program helps each UTC employee who wants for education to pays their college tuition, books, fees and even time off to study. David also extended benefits for four years to laid-off workers who had been relocated. He even added another incentive with amount $5,000 worth of company stock to all employees who complete associate degrees and $10,000 worth of company stock to those who complete bachelor degrees or higher. In the first three years of the program, UTC has spent more than $100 million on tuition, fees, and books. According to David, he said that the employee scholarship program was designed to meet his goal of having "the best educated workforce on the planet". When David first proposed the program in 1995, other executives believed the employees would take their new degrees and use them to benefit other employers. However, the evidence shows that employees who go through the program had become more loyal to UTC, he successfully retained his employees and raised the skill level of workers as the turnover rate for these employees has been about one-half that of the overall workforce. * Reorganizing UTC with a focus on Business excellence
During his tenure as CEO, David thoroughly reorganized UTC. He dramatically cut down the size of head office and decentralized decision making to business divisions. He also developed a new financial reporting system that would give him good information about each division and make it easier to hold divisional general managers accountable for their performance respectively. In the other hands, he also set demanding goals for earnings and sales growth for the employees and motivate them by implementing ACE program for improved productivity and building a strong...