Since 2013, we have been executing a long-term strategy focused on positioning the company to leverage the performance power of the ITW Business Model to its full potential, and over the course of the last six years we have made significant progress. Our path to ITW's full potential is built around three core elements:
1. Portfolio Discipline: Operate only in industries where we can generate significant differentiated competitive advantage from the ITW Business Model over the long term.
2. Quality of 80/20 Front-to-Back Practice: Operate with excellence in the practice of ITW's 80/20 Front-to-Back business management process everywhere in the company every day.
3. Differentiated Performance: Leverage the performance power of the ITW Business Model to consistently deliver solid organic growth with best-in-class margins and returns.
We remain energized by the opportunity to take the company to its full potential and in doing so, clearly positioning ITW as one of the world's best-performing, highest-quality and most respected industrial companies.