Values provide an in-built standard of reference and judgment for our actions. Values are by no means static, permanent, and unchangeable. We may have good reasons for abandoning a value or incorporating a new one in our system, but that process involves its own justification and careful reckoning. The corporate sector in India is dominated by family firms, not only in terms of overall numbers, but also with respect to representation among the largest companies. Some of the more prominent of the family controlled business houses have a history of corporate philanthropy and involvement in community development dating back to the last century and the early part of this century. These commitments, in most instances instilled by the founder of the firm, have expressed themselves in a wide Variety of areas.