Towards a Sustainable Future: Exploring the Role of Integrated Management Systems in Enhancing Export Competitiveness and Domestic Sales in Textile Industry

Abstract

In today's globalized industrial landscape, marked by fierce competition and evolving consumer preferences, the imperative of ensuring product quality, environmental sustainability, and occupational health and safety has intensified for firms operating in both domestic and international markets. Integrated Management Systems (IMS) transcend mere compliance, serving as a strategic framework for firms to fortify their environmental sustainability credentials and mitigate reputational risks effectively. By fostering environmentally friendly production practices, enhancing employee skills, reducing accidents, and enhancing institutional image, IMS drives competitiveness through continual enhancements in product quality, workforce capabilities, resource utilization, and waste reduction. This study investigates the transformative potential of IMS in stimulating export growth and domestic sales within Pakistan's industrial sector. Utilizing panel data analysis of 94 textile firms spanning listed on the Pakistan Stock Exchange from 2009 to 2022, the findings underscore the significant role of IMS in fostering export growth and improving environmental performance, highlighting its crucial contribution to achieving business success and broader societal and environmental objectives.