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Friedman, M. (1970). The Social Responsibility of Business Is to Increase Its Profits. The New York Times Magazine.
https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is-to.html

has been cited by the following article:

• TITLE: Effective Strategies for Increasing Diversity in Leadership to Strengthen Organizational Success

  AUTHORS: Shamirah Hughes, Kim A. Critchlow

  KEYWORDS: Diversity Management, Diversity in the Workplace, Diversity Equity, and Inclusion (DEI), Intersectionality, Unconscious Bias, Promotability, Hiring Practices, Hiring Patterns, Diversity Initiatives, Diversity Strategies, Leadership Strategies, Underrepresentation, Career Planning, Balance Scorecard Theory (BSC), Retail Diversity Wage Disparity amongst Groups

  JOURNAL NAME: Open Journal of Business and Management, Vol.14 No.1, January 13, 2026

  ABSTRACT: Ineffective diversity strategies for leadership roles that represent the customer base can negatively impact organizational success. Retail business leaders who struggle with achieving effective diversity in these roles risk impeding organizational performance, making it crucial for them to identify successful approaches. Grounded in the balanced scorecard theory and stakeholder theory, the purpose of this qualitative pragmatic inquiry project was to identify and explore the practical strategies employed by some retail business leaders to enhance diverse representation in leadership roles, thereby strengthening organizational success. The participants comprised seven retail business leaders with demonstrated success in implementing such strategies. Data were collected using semistructured interviews, public websites, and public archival documents. Using thematic analysis, six key themes were identified: (a) strategic recruitment and hiring, (b) leadership commitment and visibility, (c) overcoming resistance to diversity, (d) strategic use of data, (e) advocating for diversity, and (f) diversity as a driver. A key recommendation is for retail business leaders to establish structured development pipelines for underrepresented employees, including mentorship programs, leadership training, and sponsorship opportunities The implications for positive social change include the potential for retail business leaders to advance equity in leadership, thereby increasing employee trust and retention while enabling organizations to better reflect and serve diverse communities.