Purpose Beyond Profit

Updated: Jan 16

Purpose Beyond Profit

Redefining the Purpose of a Corporation


We applaud the Business Roundtable, that includes nearly 200 CEO’s of leading US Companies, that have collectively declared a statement of the purpose of a corporation to no longer be solely focused on shareholder value, profits; rather, that the role of a corporation is to deliver value to all additional stakeholders (Employees, Customers, Suppliers and Communities), purpose. According to the The Business Roundtable Statement on the Purpose of a Corporation, “Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity.”


Similar to the recognition by these titans of the business world, the Nova Group strategic planning team recognized that our world should shift to be part of a Purpose Economy.



Reflection


This led us to reflect on our role as a company and the impact we can have as we continue to grow.


Our first step was to look back and reflect.

  • 30+ year-old company

  • Global presence with more than 600 full time and professional associates in seven countries

  • Growth has been accomplished with hard work and a keen focus on our mission of providing innovative solutions for the global real estate industry.


We also asked ourselves some big questions.

  • What kind of company do we want to be? What do we stand for?

  • What at the end of the day is our impact and ultimately what do we want to achieve?

  • Further, what is happening in our industry and how do we meet the challenges

  • And, most importantly why do we exist as a company


Transformation


What became clear to us is that our success to date has been driven by making bold decision and taking industry leading actions.


Accordingly, like the 181 CEO’s of major corporations, we embraced the reality that purpose & profit are linked. To fully embrace this, we committed to make bold new moves:

  • We believe Nova is the first in our industry to form a GBC and integrate our values across all our businesses and measure our impact.

  • We are committed to using our core competencies and global structure to improve lives around the world. We welcomed a Director of CSR and ESG to help us get there.

  • We collaborate with others that share our values in a collective effort to multiply positive social change. Our CSR Ambassador Committee is actively working hard to make this change a reality at Nova and across all communities.


At Nova, we believe our role is to provide value to our people, property and planet.


We live in challenging times, no doubt. But our view is one of optimism and opportunity to unite stakeholders. Whether they’re large entities, such as the 181 companies that have declared a new day in the role of business or smaller companies such as Nova; businesses of all shapes and sizes can work together to make our world a better place.


Cheers to the Business Roundtable and its members. We proudly stand with you and look forward to working together to drive real social impact.

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