Social development, in our increasingly globalized world, can no longer be pursued on a single agenda. We cannot simply opt for economic growth without placing equal emphasis on factors such as social equity, cultural vibrancy, social justice and environmental responsibility.

To promote a self-supporting, self-invigorating society, effective governance has to acknowledge changing norms and recognize multiple agendas that embrace the whole spectrum of social issues.

In Hong Kong, the norm until recently had always been that economic growth was paramount and that everything else followed in a descending scale of priorities.

Now, from all that one reads in the press and gathers from public opinion, it is clear that such a belief is neither acceptable nor correct. We have learned that, if necessary, economic growth must be restrained to accompany the other prerequisites that contribute to a balanced and harmonious society.

Most nations are now moving toward the multiple-agenda system that fosters comprehensive development. Countries that do not fit this trend risk losing flexibility and balance.

I find balance a vital component to the success of any society, and by this I mean also the balance between the non-profit and business sectors.

How to bring the two together, to unite them in building a cohesive and harmonious civil society, has been one of the issues closest to my heart. Traditionally, the non-profit sector in Hong Kong has relied almost entirely on government funding to provide social and community services for the general public.

On the other hand, the private sector has been primarily concerned with making profits in the commercial world. With the exception of a few companies that have occasionally made cash donations to charities (one suspects primarily for the tax benefits thereby derived), the private sector has had very little to do with the non-profit social services sector.

In recent years, there has been a gradual paradigm shift whereby the for-profit and non-profit sectors have been moving toward, rather than away from each other.

In fact, the non-profit sector has increasingly been striving to adopt a more enterprising approach to the provision of services, giving greater attention to organizational efficiency and effectiveness, as well as accountability and transparency in the form of social enterprises.

Coincidental with this trend, business enterprises are becoming increasingly aware of the need to be responsible not only to their shareholders, but also to the communities within which they operate.

Leaders in this field - and there are a few notable examples of such "corporate citizens" - have sought to achieve commercial success in ways that honor ethical values and respect people, communities and the natural environment.

Whatever the cause - whether it stems from unprompted initiative or a response to public calls on the business sector for greater social awareness and responsibility - one can only welcome the outcome.

The author is former secretary for home affairs of the Hong Kong SAR government

(HK Edition 03/10/2010 page1)