culs Articles
Established in 1935 and with headquarters in the centre of Cambridge, the Howard Group is a leading regional property investor and developer. The Group also provides growth capital funding, strategic and management support to mid-sized businesses across a diverse range of sectors. CEO, Nicholas Bewes joined the Howard Group in 1999 and has overall responsibility to the Board and Shareholders for the management of the Howard Group of companies, encompassing Howard Property Group and Howard Capital Partners. Prior to joining the Howard Group, Nicholas worked with The BOC Group for ten years, where he held various management positions. Nicholas Bewes CEO, Howard Group
www.howard-ventures.com
Stewardship: Fostering success, significance and sustainability as a family owned company
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ovo Nordisk is a global healthcare company with more than 95 years of innovation and leadership in diabetes care. Its mission - to ‘defeat diabetes’ - centres around a commitment to the long-term production and supply of a low cost insulin to patients in low and middle income countries where ordinarily it can be challenging to access reliable and affordable supplies. This ‘Access to Insulin Commitment’ now covers 78 countries, home to a third of the world’s diabetes population. At the heart of Novo Nordisk’s business is the conviction that the formula for lasting success is to stay focused, think long-term and to do business in a financially, socially and environmentally responsible way. To hold itself to account against these principles, Novo Nordisk manages its business in accordance with the Triple Bottom Line theory. Anchored into the company’s Articles of Association, the theory is applied to ensure business decisions balance financial, social and environmental considerations, enabling Novo Nordisk always to keep in mind the best interests of the patients it serves. This approach was years ahead of its time and in deciding to do something that would make a real difference and following it through, the organisation has created
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Cambridge University Land Society 2019
a hugely successful, sustainable and profitable business.
Responsible ownership The inner workings of a Danish pharmaceutical company may feel far removed from the bustle of Cambridge; more specifically Regent Street, home to the Howard Group. However, the Novo Nordisk way of doing business particularly resonates with me. Most striking is the fact that financial performance is not ultimately what defines the business; rather it is responsibility - financial, social and environmental – which implies a strong sense of stewardship alongside ownership. As a family-owned company, stewardship and responsible ownership
“ Continuity gives us roots; change gives us branches, letting us stretch and grow and reach new heights.” Pauline R. Kezer
is something we talk about a lot. What does being a responsible owner mean in terms of our behaviours, our relationships and our outlook as a family? These considerations run deep, to the point at which they influence the way in which we bring up our children, the next generation, to appreciate that they have a responsibility and an obligation, not a birth right. The way we talk about what we do is very much about stewardship rather than entitlement; looking outwards and thinking about the responsibilities we have been entrusted with and considering how best we can take those forward. We are trustees of the Howard Group business, not owners with an entitlement. Colin Mayer, the Peter Moores Professor of Management Studies at the Saïd Business School at the University of Oxford and author of “Prosperity: Better Business makes the Greater Good” uses a very interesting quote: “The purpose of business is not to produce profit; the purpose of business is to produce profitable solutions to the problems of people and planet and in the process it produces profit.” During the course of this year, we have spent time considering this very point; if profit isn’t the sole aim and isn’t the purpose of the business, what is? How