How can I give you an example of hakaras hatov? I am in Hollywood, Calif. and I am about to accept an Oscar for Best Picture. (This is a theoretical example.) It is at that point that I get up to the microphone and thank everyone that had a profound impact on me as a person. First, I thank Hashem. Then I thank my parents, my mentor, the actors in the film and anyone else that I need to thank. This is hakaras hatov. The recognition of good that was done to you by your friends and co-workers.
You do not have to wait until you win an Academy Award to show hakaras hatov. You can thank people every single day. You are doing an amazing service. You are telling him or her that you acknowledge what they have done for you and you recognize the good! You recognize the help that you have received. You appreciate all that they did for you. It is an amazing mitzvah when you thank people for what they have done for you. It could be parents as well. Hakaras hatov is very important.