One of the greatest challenges companies face in adjusting to the impact of social media, is knowing where to start.

The evolution of social media into a robust mechanism for social transformation is already visible. Despite many adamant critics who insist that tools like Facebook, Twitter, and YouTube are little more than faddish distractions useful only to exchange trivial information, these critics are being proven wrong time and again.

CEOs must embrace the role of serving as the public face of the company to their customer community and the marketplace at large.

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.

A world in which government is burdened by historic debt, philanthropy has limited resources, and the private sector is only interested in its own personal gain is simply unsustainable.

Ensure your employees understand what your brand stands for so they can be your first line of word-of-mouth advertising.

Social media companies must combine their mastery of the latest in real-time, location based or augmented reality technologies in the service of clear and consistent storytelling.