Creating shared value
 
Sustainability is everything to the marketplace in modern times. In addition to making profits, a business should also consider its impact on other stakeholders (like the community, the environment and the employees). It is common for enterprises to take on Corporate Social Responsibility (CSR) and pay back to society through charitable and volunteering work.
 
Here at Stan Group, achieving sustainability through creating shared value (CSV) is carried in our unique DNA, and this is reflected in the two ripples in the corporate logo. The logo conveys our aspiration to influence, and our unrelenting drive for sustainable commercial and social development.
 
We believe a successful business is one that not only assumes CSR, but also takes care of both business and social sustainability. It generates profits while creating shared value (CSV) for different stakeholders. We have made it our corporate mission to create shared value for all.
 
While CSR separates core businesses from charity, CSV is underpinned by three fundamental principles:
1. Creation: Discovering innovative business opportunities to address social needs by leveraging its commercial power
2. Sharing: Sharing value and corporate achievements with different stakeholders in the course of business operation
3. Value: Attaching equal importance to business profit and social value in pursuit of sustainability for both corporate and community
 
In recent years, the Group has dedicated to CSV through its expansion of a business pillar named The STILE, innovative businesses with social purposes. The STILE is designed to drive innovative business blueprints across Social, Technology, Innovation, Leadership and Entrepreneurship. It aims to integrate business benefits with social needs, thereby uncovering new markets and creating new opportunities.
 
Innovative thinking to address social needs

By promoting the concept of 'innovative businesses with social purpose’, The STILE starts from discerning the needs of society, resulting in the development of sustainable business models that focus on senior care services and entrepreneurial platform, bringing mutual benefits to both corporate and community.
 
Hong Kong is now in face of an aging population. According to the statistics of local government, the share of the elderly population aged 65 or over is projected to increase from 17.9% to 31.9% between 2018 and 2038. In other words, nearly one in every three persons will be elders in 2038. Stan Group realises the market is in lack of comprehensive senior care services, both in quantity and quality, to satisfy the growing demand in this rapidly ageing city. In view of this thriving demand and the strong purchasing power of the local silver community, the Group saw the opportunity of tapping into the senior care market while solving the unmet social issues by drawing on our experiences in hotel, food and beverage, and clubhouse operation. We endeavour to offer more quality solutions, thereby raising the standard of the industry and meeting the dire needs of society.
 
In 2018, Stan Group partnered with Pine Care Group to launch Patina Wellness, Hong Kong’s first integrated senior elderly wellness hub residence run by the private sector. The project encourages the elderly to move to the serviced apartment with their family, where one-stop service of professional elderly and medical care, clubhouse facilities and catering services are available. We are committed to promote ageing in place and foster intergenerational harmony. By making innovative solutions available in the market, we enable seniors to enjoy their silver years in a comfy and cosy environment.
 
In 2020, Stan Group chairman Stan Tang and honourable chairman Tang Shing-bor acquired Pine Care Group Limited (Hong Kong stock code: 1989), which then became the strategic partner of Stan Group. The two groups have entered into a close partnership to develop high-end senior care businesses in Hong Kong and the Greater Bay Area. With an innovative business model, the eldercare services will be upscaled to a new level and offer the silver community an enjoyable and carefree retirement.
 
On the other front, it is difficult for young people to start their own business in Hong Kong, with limited support available from the industry. Invest Hong Kong reported in 2019 that the number of start-ups in Hong Kong saw an impressive growth of over 40% from 2017, but on the flip side, the lifespan of most start-ups is only a few years. Looking through a shared value lens and as a keen advocate of entrepreneurship, Stan Group saw the problems faced by start-ups as a multi-win business opportunity. We understand how important networking and guidance are for start-ups. To support them proactively, the Group established The Wave in 2016 as an integrated business platform with event space, co-working space and serviced offices. With all-round support for networking and sharing, The Wave strives to help dreamers, entrepreneurs, and SMEs to realise dreams and achieve business growth.
 
B Corp to benefit the community
 
To better assess its impact on society and the stakeholders, the Group encourages its businesses to engage in an international certification for benefit corporation, i.e. B Corp Certification. Certified businesses are recognised as ones that generate profit for shareholders while creating value for different stakeholders. So, it stands as a testimony to the success of an enterprise to strike a right balance among its business operation, society and the environment.
 
Stan Group aspires to set an example for business corporations in Hong Kong. The Wave and Hotel Ease.Tsuen Wan of the Group obtained B Corp Certification respectively in 2017 and 2019. While The Wave is the first ever commercial corporation in Hong Kong to get the Certification, Hotel Ease .Tsuen Wan is made the first B Corp hotel in Asia. These milestones are recognition from the international community for the Group’s relentless effort in creating shared value.
 
Spearheading transformation to reap the reward
 
Stan Group believes every one of our staff members are important stakeholders who play an essential role in the Group’s long-term success. Therefore, we attach great importance to creating shared value with them. The Credit System and the Buy-a-Brick programme have been launched to motivate staff engagement in innovation, cultivate entrepreneurship and recognise staff for their efforts.
 
Employees may earn Credit Points and Shared Value Points with innovative business pitches, business referral, attending talent development workshops, etc. Credit Points may be used to redeem vouchers, hotel stay, and even an extra day off, while Shared Value Points may be used to redeem a ‘Brick’ through Buy-a-Brick. A ‘Brick’, which is a digital token stored on the blockchain, represents a smart contract for a property. Based on real estate tokenisation, Buy-a-Brick provides employees with the opportunity to share the future capital gain of the Group’s property, without making any monetary contribution. Employees may redeem the ‘Brick’ of a property through Buy-a-Brick. When the property selected is sold and profit is made on its sale, the Brick holders will be entitled to share the profit.
 
Through the Credit System and Buy-a-Brick, the Group wishes to inspire employees to think innovatively and drive transformation, enabling them to generate wealth and reap the reward alongside the Group.

 
As a pioneer and a devotee of CSV in Hong Kong, Stan Group believes that we need to discern unmet social needs and develop an innovative business model in order to drive changes. Stan Tang, chairman of Stan Group, remarked, ‘When a pebble is cast into water, it creates ripple on the surface. The heavier the pebble is, the further the ripple goes. CSV is our pebble. We envision to join hands with every stakeholder in the business ecosystem to achieve common good for society. Looking ahead, I hope to spearhead even more projects that bring profits and values, so as to address social needs both inside and outside the Group for the benefit of the community.’