Founded in 1912, ITW (NYSE: ITW) is a global industrial company centered on a differentiated and proprietary business model. The company’s seven industry-leading segments leverage the ITW Business Model to generate solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 50,000 dedicated colleagues around the world thrive in our decentralized, entrepreneurial culture. In 2017, the company achieved revenues of $14.3 billion, with roughly half coming from outside North America.

Our Differentiated Business Model Is Our Competitive Advantage

ITW’s key differentiator – our secret sauce – is the ITW Business Model. It is the powerful combination of a set of strategic, operational and cultural practices that we apply to every ITW business, and that has been in existence inside the company for over 30 years.

Starting with the right “raw material” (industries that have a great fit with our Business Model) and driving excellence in the practice of the ITW Business Model everywhere in the company, every day, is how we maximize ITW’s ability to deliver differentiated performance over the long term.

Our Business Model is comprised of three elements:

Our 80/20 Front to Back Process – HOW WE OPERATE
ITW’s 80/20 Front to Back Process is a proprietary set of unique business practices that we utilize as the core operating system in every ITW business. We structure and focus our businesses to uniquely serve and grow relationships with our key customers, and minimize the cost, complexity and distractions associated with serving smaller customers.

Our Customer-Back Innovation Approach – HOW WE INNOVATE
Customer-Back Innovation enables our divisions to deliver a steady flow of differentiated new products and solutions to our “80” customers. In every market in which we operate, our businesses work hard to position themselves as the go-to problem solver for our customers. Customer-Back Innovation is a key contributor to ITW’s ability to deliver consistent above-market organic growth.

Customer-Back Innovation at ITW has fueled more than 17,000 granted and pending patents, including more than 1,900 new patent applications in 2017. We estimate that over half of our revenues are covered either by patents or trade secrets.

Our Decentralized, Entrepreneurial Culture – HOW WE EXECUTE
Our commitment to execution is deeply embedded in our decentralized, entrepreneurial culture – we do what we say. Our leaders are clear on what is expected of them with regard to our Business Model, our values and our strategy. Within this framework, we empower our business teams to make decisions and customize their approach in order to maximize the relevance and impact of the ITW Business Model for their specific customers and end markets.

Our Values

Integrity
Customers and suppliers who work with ITW know they can expect fair treatment no matter where they are: honesty, transparency and a company that always aims to do what’s right.

Respect
ITW respects insights at all levels and expects our diverse workforce to be embraced with respect and dignity and all views to be recognized.

Trust
The Company trusts that all ITW colleagues operate with the highest professional standards and in the best interests of the Company at all times.

Shared Risk
ITW encourages well-reasoned, prudent risk-taking in an environment where challenges are discussed openly. At ITW, everyone works as part of a team, sharing responsibility for the outcomes of individual risks and decisions.

Simplicity
ITW keeps things simple by focusing on the essential core of any business opportunity, challenge, issue or problem.