Not since the digital revolution in the early '90s has technology placed such a comprehensive burden on business, employees and individuals to reinvent their business plans, services and products, and themselves to keep pace with the changing marketplace.

Perhaps the most powerful lesson other brands can learn from Nike is the need to act in accordance with the reality of the world we live in. In a mutually dependant, intimately connected global community facing several major crises, brands need to operate with an expanded definition of self-interest that includes the greater good.

Consumers want a better world, not just better widgets.

Social technology gives leaders a vital new platform with which to connect their companies to the myriad stakeholders who have an interest in their well being.

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.

Some critics have challenged what the return on investment is for engagement in social media. Others have complained that the metrics don't exist to demonstrate value.

Corporate executives need to re-frame their responsibilities to include the interests of all the stakeholders in society at large; not just shareholders, but also employees, the citizens of our communities, and those who care about the environment.