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In the mid-1980s, Illinois Tool Works (ITW) became the first company to embrace the Pareto Principle as a business operating model. The move paid off, leading to 25 years of exponential growth delivering 19% compounded annual shareholder return.
What is the Pareto Principle? It’s simple to understand but, for most businesses, challenging to apply. Typically, a small percentage of inputs, 20%, generate a high percentage of outputs, 80%. For example, in business, 20% of customers typically generate 80% of sales.
In this webinar, Marc Fooksman – formerly an 80/20 Director and Group President at ITW and now Vice President atStrategex, Inc.– will cover the history of the Pareto Principle, how complexity creates unnecessary costs, and how 80/20 can simplify a business to significantly improve profitability.
Marc isn’t a theoretician, lecturer, or workshop leader. He’s had years of real P&L responsibility, with a track record of increasing earnings in once-stagnant businesses. Marc is known for his ability to empower management teams with the knowledge and skills to sustain a results-oriented culture.
During this month’s webinar, Marc will provide an overview of the 80/20 process and show you how to transform your business by focusing on what’s most important.