"It is our duty to look after ourselves and then also to help look after our neighbour and life is a reciprocal business and people have got the entitlements too much in mind without the obligations, because there is no such thing as an entitlement unless someone has first met an obligation [...]"
She certainly puts the framing as individualistic, but I think she very much understood the obligations are a necessary part of the system.
Sure, and a big part of the framing that Thatcher used was to emphasise the obligation of those that might need direct support from society, but ignores the obligations of those that have become wealthy from the implicit support. I think the point you are making, which I agree with, is that the obligations are required everywhere, and should be enforced if not forthcoming.
That's... incomplete.
Society is the obligations and responsibilities collectively imposed on these people.
It's indicative that part of Thatcher's intent was to remove the obligation of people to each other.
More profitable when choosing to help others is instead at one's discretion...