Final answer:
The Board of Directors holds the ultimate responsibility for strategy within an organization, ensuring that the company operates in the shareholders' best interests, with the CEO and top executives also playing a key role in strategic planning.
Step-by-step explanation:
The entity responsible for maintaining the ultimate responsibility for strategy within an organization is the Board of Directors. These individuals are elected by the shareholders and are tasked with ensuring the company operates in their best interests. While the Chief Executive Officer (CEO) and top executives play a significant role in shaping and proposing strategic directions, the board has the final say in approval and oversight. This governance structure serves as a system of checks and balances, with corporate governance being a vital mechanism to protect the interests of shareholders and other stakeholders.