Importance of sustainability
Over the last couple of decades, an increasing number of organizations around the globe have adopted a set of sustainability practices. We’re witnessing the growing role of Chief Sustainability Officers (CSOs) in C-suits. Have you ever wondered why so many businesses now take sustainability seriously? Is it something that leads to superior financial performance? Or, is it something that ensures corporate survival?
While many enterprises consider sustainability as an inspiration or a strategy, we need to think beyond CSR (corporate socially responsible) principles or a business’s adherence to ESG (environmental, social, and governance). As a business, your day-to-day operations must gear towards the pursuit of sustainability and long-run growth.
Before we talk about the concept of quality and its environmental and social impact, it’s important to understand sustainability and its relationship with quality. First of all, it’s critical for us to understand that sustainability requires a broader assessment of economic, social, environmental, and institutional factors. Let’s take a look at leading global problems that can be addressed with a sustainable way of doing business:
- Income inequality
- Climate change
- Human rights issues
- Poor working conditions
- Gender inequality
- Depletion of natural resources
- Racial injustice
If you’re just focused on profits or the bottom line, it’s time for you to think beyond the traditional definition of business success. When we think of a business model, we must be considering its impact on the three Ps: people, planet, and product. This is called a sustainability initiative that ultimately leads to an organization’s overall success.
McKinsey published a report called “Profits with purpose: How organizing for sustainability can benefit the bottom line.” It found out that companies with high ESG ratings consistently outperform the market and that sustainability strategies lead to both short and long-term benefits.
Let’s briefly define quality to help you broaden your perspective of sustainability. Quality management is a set of practices that help organizations perform for their stakeholders. It is about improving your products, services, processes to make your business more effective and sustainable.
Organizations that focus on quality constantly work towards achieving excellence. They make sure to keep improving with a clear direction and purpose. Most organizations limit their quality management efforts to getting rid of defective products. While it’s important to deliver top-notch products to your customers, you need to take your quality management efforts to a level where you prioritize your stakeholders or anyone who is impacted by your business directly or indirectly.
Customers are surely the most important group of your stakeholders. Your employees, investors, suppliers, and members of your society are also key components of your audience. Build solutions while understanding and meeting, if not exceeding, your stakeholders’ needs. Focus on three things: strong governance, robust quality control systems, and a culture of continuous improvement.
Quality’s role in sustainability
We can find plenty of definitions of sustainability. But let’s keep things simple. Sustainability is when you achieve your business goals without compromising the needs of our planet, customers, and stakeholders. Now, do you think it’s possible to achieve sustainability without quality? How would you improve your products and business processes without infusing quality into your strategy?
Do you think it’s possible to achieve sustainability without focusing on the quality of your business? We don’t think so. Improving the quality of whatever an organization does is what helps them ensure sustainability. From product development to waste management, whatever you do as a business requires a process based on some pre-defined quality standards.
Quality is one of the essential elements that help organizations turn uncertainty into profitability. We understand that rapid time to market is critical and that you have to build and ship products at a great speed. Growing in the age of disruptions demands quality thinking infused into every business process. Successful organizations today have realized the role of quality in delivering world-class products while attaining leadership in their respective markets.
Therefore, if you want to establish your organization as a leader in sustainability and boost reputation, you have to integrate quality into your business processes. This is the only way you can positively impact people, the planet, and your business. Besides, creating sustainable solutions help your business stay relevant and profitable in the long run. Remember, society and the environment are as important as your customers and competitors.
Get some inspiration from CQI
CQI is the leading name when it comes to quality and its applications. Established in 1919, CQI is helping organizations and professionals take their quality management efforts to the next level. If you want to learn more about the role of quality in sustainability and its environmental, social, and governance (ESG) impact, be sure to follow the CQI quality week that runs from 8-12 November.
About Management Solutions
When it comes to quality and ESG, we need to get some inspiration from platforms like CQI, Management Solutions, and Project Controls Solutions. Management Solutions, for example, is a performance management consulting firm that specializes in improving organizational performance across verticals.
Whether you’re struggling to achieve project management excellence or want to manage a restoration program, Management Solutions can help you achieve your goals. We are currently offering consulting for projects such as cleaning up American Military sites to return to a usable state, coastal risk management to prevent flooding, and river clean-up.
When talking about sustainability, quality, and ESG, organizations have to analyze all aspects of their business. There’s no one-size-fits-all answer to what you should do to ensure sustainability. As a professional, taking advantage of Management Solutions’ consulting services allows you to enhance your understanding of sustainability and business management, leading to effectively running your project.