Online groups seem obsessed with asking what Strategy is, and what’s its value. If we don’t know, we can hardly expect others to listen to us. It’s simply setting powerful but realistic aims, and defining how to get there. It’s purpose is to create business value (NPV of future free cash flows). Because things change, these must be updated continually. (In non-commercial cases, the purpose is to achieve non-financial aims, though within financial constraints).
So, let’s stop debating this basic issue, and focus on working out, codifying, and explaining how to do strategy well, whatever the circumstances.