What are the areas a company should focus upon so as to be a good corporate citizen ?

As a good corporate citizen, companies are required to focus on the following key aspects: Absolute Value Creation for the Society Organisations should set its goal towards creation of absolute value to the society. Once it is ensured, a corporate never looks back and its sustainability in long run is built up. Ethical Corporate Practices In the short run, enterprise can gain through non-ethical practices. However those cannot be sustained in long run. Society denies accepting such products or services. For example, in Drug and Pharmaceutical industry, many products are today obsolete due their side effects which such companies never disclosed to protect their sales volume. When they were banned by the WHO or other authorities, they had to stop their production. Worth of Earth through Environmental Protection Resources which are not ubiquitous and have economic and social value should be preserved for long term use and be priced properly after considering environmental and social costs. For example, a power plant should build up its cost model efficiently after taking into account cost of its future raw material sourcing, R&D cost for alternate energy source, cost for proper pollution control measures and so on. Equitable Business Practices Corporates should not divulge themselves in unfair means and it should create candid business practices, ensure healthy competition and fair trade practices. Corporate Social Responsibility As a Corporate citizen, every corporate is duty bound to its society wherein they operate and serve. Although there is no hard and fast rules, CSR activities need to be clubbed and integrated into the business model of the Company. Innovate new technology/process/system to achieve eco-efficiency Innovation is the key to success. Risks and crisis can be eliminated through innovation. Learning and Innovative enterprise gets a cutting edge over others. These innovative processes bring sustainability if developments are aimed at satisfying human needs and bring quality of life while progressively reducing ecological impact and resource intensity to a level at least in line with earth's estimated carrying capacity. Creating Market for All Monopoly, unjustified subsidies, price not reflecting real economic, social environmental cost, etc. are hindrances to sustainability of a business. Simultaneously, a corporate is to build up its products and services in such a way so as to cater all segments of customers/consumers. Customer confidence is essence to corporate success. Switching over from Stakeholders Dialogue to holistic Partnership A business enterprises can advance their activities very positively if it makes all of stakeholders partner in its progress. It not only builds confidence of various stakeholders, but also helps the management to steer the business under a very dynamic and flexible system. This approach offers business, government and other stakeholders of the society to build up alliance towards bringing common solutions to common concerns being faced by all. Compliance of Statutes Compliance of statutes, rules and regulations, standards set by various bodies ensure clinical check up of a corporate and it confers societal license to the corporate to run and operate in the society.