It is time for corporate America to become 'the third pillar' of social change in our society, complementing the first two pillars of government and philanthropy. We need the entire private sector to begin committing itself not just to making profits, but to fulfilling higher and larger purposes by contributing to building a better world.

Social media is not about the exploitation of technology but service to community.

More brands are waking up to their social responsibility and doing good work through cause marketing campaigns. Yet too many still go about it the wrong way. I mean 'wrong' in two senses. Firstly, they are marketing ineffectively, and secondly, as a consequence their positive social impact is not maximized.

Consumers now have a voice. And the fact that consumers can be creators, producers and distributors means they can push back against brands to punish them for their socially irresponsible behavior or reward them for their responsible behavior.

Greed has increasingly become a virtue among Wall Street bankers and corporate CEOs in the U.S. Nowhere else in the world do CEOs insist on receiving compensation as high compared to what their employees earn.

Brands must have a point of view on that purposeful engagement, whether it's directed towards the environment, poverty, water as a resource or causes such as breast cancer or education. Merely declaring your commitment to a category or cause will not be enough the distinguish your brand sufficiently to see a return on these well-intended efforts.

Concerned consumers are realizing that they can use social media to organize themselves around shared values to start effective movements. Social media gives them a sounding board to share ideas, as well as a means to punish irresponsible corporate behaviors.