Can Businesses Solve Social Problems?

​Michael Porter has written several business books and is now focusing on the intersection of societal issues and corporate interest.  In his TED talk, he makes the case for letting businesses solve social problems.

Some business (like us!) are social enterprises.  

Jim Riley, a business writer and co-founder of tutor2u, said this about social enterprises:
Social enterprises complete alongside other businesses in the same marketplace, but use business principles to achieve social aims.

What do you think?  Is it possible for businesses in general to solve social problems or are other approaches more beneficial?  Let us know what you think!