Review of Milton Friedman's essay 'The social responsibility of business is to increase its profits.'

Recommendations and Conclusion
It is recommended that modern business organizations incorporate the newly developed three-domain framework/model of corporate social responsibility and sustainable business processes or critical operations. It involves the business’s imperative responsibilities using three imperative dimensions ethical, legal, and economic factors. The integration of the stakeholder and shareholder approach must be managed with Carroll’s pyramid model of taking the interests of the individual stakeholders such as the customer’s community, external environment, government, society, competitors, and suppliers. Besides, the increased/maximization of returns is essential for the sustainable/continuous growth, development, and rise of profits using the critical framework of the principal-agent theory. Finally, it is concluded that the inclusion of the TBL relationship with CSR with economic, social, and environmental considerations is managed with three significant pillars: people, planet, and profitability.