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.

Companies, to date, have often used the excuse that they are only beholden to their shareholders, but we need shareholders to think of themselves as stakeholders in the well being of society as well.

Executives can no longer hide behind the corporate veil. They need to be accountable for what their companies do, because entities are responsible for socially irresponsible behavior.

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 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.

Corporate America cannot afford to remain silent or passive about the downward spiral we are undergoing. It cannot turn a blind eye to how difficult the experience of life is for so many of their customers.