Business strategy sets the overall direction for the business as it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Basically, companies can make strategic planning more effective by ensuring the participation of top management.
This ultimately implies that, the top or executive management of a business firm or organization which typically comprises of various board of directors are to indulge in strategic planning and dissemination of essential information from top to bottom.
Scottish philosopher who wrote The Wealth of Nations in 1776. Argued that money in and of itself did not constitute wealth wealth but merely its marker. He advocated Laissez-faire economic theory. Adam Smith also said that individuals should freely pursue their own economic interests
