It is not enough if a company makes a profit, it should also play a critical role in the life of the community. There cannot be an island of plenty surrounded by an ocean of poverty. Hence, the Board of Directors of the company have to observe the needs of their immediate community and take steps in ameliorating them in a suitable manner, thereby earning the epithet of a `Good Corporate Citizen'.

Corporate Social Responsibility (CSR) is the buzzword today in the corporate world. The company is measured, not merely on the basis of its business performance, but also by its contribution to the society as a part of its social responsibilities. Hence, big corporations conduct lot of activities to improve their brand image.

It is in the mutual interest of both the company and the stakeholders that the company should have a sustained growth. Any closure of the company would lead to disruption in the lives of many and would cause severe hardship to the weaker sections among the stakeholders. The sustained growth of the industry is a part of the societal responsibility of the company. Shareholder education and increasing the awareness among direct and indirect stakeholders is also of prime concern to the insurance company.

Companies have to ensure that their activities do not adversely affect the environment. Depletion of natural resources, forests or ground water is a case in point. Recovery of heat or minerals from the gases or effluents reduces pollution. Atmospheric pollution affects the health of the people and so must be minimized. Laws relating to the environment should be observed both in letter and spirit.

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