Did you notice the following phrase in my conclusion in Wednesday's lesson?
"companies should place as much importance on their social responsibilities"
Notice the "verb + noun" collocation that I used: place importance on
Did you know that we can say "place importance on something"? Have you ever used this collocation / phrase yourself?
You might think that you know the word "importance", but I would be surprised if you knew all of the common collocations on this webpage. Remember: it's easy to learn the meaning of a word, but this doesn't mean that you know all of the word's uses.