Corporate governance is a system of supervisory mechanisms that allows managers at all levels to work in the best interest of companies and its stakeholders, as well as ensuring that the minority shareholders are not in an indifferent position vis-à-vis the shareholders that control the business of the company and establishing an effective business control system. Since stakeholders, that is people, are an integral part of the company and its environment, people operations become an essential part of business and business growth. In order to adapt to the environment, it is important for organizations to have a good relationship with stakeholders to help them reduce uncertainties and facilitate the necessary changes. The companies should keep up with the changes that occur in the environment, both internally and externally, and the best way for achieving that is engaging in corporate social responsibility which is crucial for acquiring new information and resources. Corporation is a form of business in which a large number of people invest capital together and thus become shareholders, sharing risk among more people. The corporations have become stronger than the state; therefore it is necessary to control them so that the society does not get neglected. Since corporations are forms of society, they should aim at becoming corporate citizens, adopting strategic approach at the highest levels of corporations that will allow them to integrate all the activities and operations that will serve the society. In other words, corporate citizenship is an upgrade to the corporate social responsibility and it is suggested that it should be integrated and evaluated in the companies. This thesis aims at showing advantages of the corporate social responsibility, that is, pointing out that in the long run, the corporate social responsibility is the only chance for the survival of both companies and society. In other words, this thesis aims to show that the terms company and society are connected and dependant on each other.