Abstract:

Companies increasingly recognize consumers’ expectations regarding sustainability, because contemporary consumers expect to participate in sustainable development. Companies can fulfill this expectations and improve different areas of their activity, for example through: offering of sustainable products, sustainable manufacturing implementation and sustainable marketing approach. The aim of this paper is to draw attention to the possibility of using the FMEA method (Failure Mode and Effects Analysis) in the implementation of the concept of sustainable company management. This paper proposes the concept of using the FMEA methodology to improve the processes of a socially responsible and sustainable company. This study presents modification of FMEA method that is used as a tool for risk analysis which identifies and prioritizes actions for improving socially and environmental responsible company management. The proposed modification of FMEA method has allowed to determine the impact of company management processes on the environmental and social outcomes as well as to identify the potential risks associated with company functioning.