Write an 300-500 word essay that answers the following question: Why do you find Adam Smith to be the most influential and important, and how would you incorporate their approach into your managerial practice?
their own self-interest helps society more than directing their economic activities is central to Adam Smith's work. But he also believed that economic freedom should be maximized, and this is why he is so well regarded today by conservatives.
Adam Smith was the first person to identify specialization and the division of labor as the main drivers of productivity. ... Smith's contributions provide a foundation for the division of labor and demonstrate the importance of establishing the right 'institutions' within a firm.
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