se assumptions have undergone many changes and today ship management is a specialized area and involves a wide variety of functions some of which are:The first three areas are the ones traditionally focused upon, while the fourth area has been professionalized gradually. The last two areas are comparatively new functions and of these, health, safety, and environment have great social implications and they constitute major components of Corporate Social Responsibility (CSR). (Corporate Social Responsibility and the Bottom of the Pyramid. Abstract Dynamics).CSR itself is composed of two areas, namely Social Responsibility and Social Contribution. (Corporate Social Responsibility and the Bottom of the Pyramid. Abstract Dynamics). Social Responsibility means complying with laws and regulations, respecting social precepts, and being ethical and fair in all business activities. In the context of ship management, it implies making all efforts for safety in navigation and cargo operations and ensuring environmental preservation. Social Contribution means being Good Corporate Citizens who contribute to the betterment of society and serve society.Maritime operations necessarily involve many countries and cultures and it is essential that the business should comply with local laws and regulations and respect their ethical and moral standards, culture, tradition, and customs. (Social and Environmental Report. Copyright(C) 1996-2007 Kawasaki Kisen Kaisha, Ltd. All Rights Reserved). Thus the social component of ship management is much more pronounced when compared to others.Ship management business managers have traditionally been concentrating on running their business in the most profitable manner, but in the process, they often used to cut many corners. History is replete with examples of ship crew and entire ships falling prey to many catastrophes caused by faulty management. Over the course of time, the human aspect of ship management, particularly relating to working conditions of crew, came to assume greater priority.