"The corporation has failed to deliver benefit beyond shareholders, to its stakeholders and its wider community.…. At the moment, how we conceptualise business is, it's there to make money. But instead, we should think about it as an incredibly powerful tool for solving our problems in the world… The UK has a particularly extreme form of capitalism and ownership." Professor Colin Mayer, Author of ‘Principles for Purposeful Business’ (published by the British Academy, November 2019).
The sustainability crisis is leading to a growing recognition that the purpose of a business must be redefined as creating shared value, not just profit for shareholders. This is reshaping capitalism and its relationships with society.
Businesses at the forefront of this change know that profit is the reward for solving the problems of society. They integrate the triple bottom line (profit, people and planet) into every system, process and procedure within the business. When businesses fail to consider the triple bottom line in their decision making, their decisions are not based on the complete picture. An integrated approach to decision making is designed to accelerate the symbiotic relationships between management actions, value creation and the goal of building a sustainable future.
Integrated Management is the process for integrating the triple bottom line performance in the close co-ordination between processes, functions, the business and society. It provides and opportunity to reduce waste and innovate, ensuring cost is reduced and value is added throughout the supply chain which is shared with all stakeholders. This is the source of a truly sustainable competitive advantage.
Contact us if you would like to speak to one our consultants about gaining a sustainable competitive advantage through Integrated Management.