Product Strategy

There are reversible and irreversible product decisions – reversible are easy to iterate and tweak once in production, irreversible should be thought through during the product development lifecycle
in good companies the strategy and the story are the same thing thus every strategy produced there is a story and the story of a company goes beyond quarterly and yearly goals and answers around the question "why" → why should I join the company? why should I be excited to work here? why should I buy its product? why is a world better off thanks to what this company produces? ... (Horowitz)
great CEOs create exceptional strategies that allow them to continuously build internal intelligence to support good decision making (Horowitz)

Good strategy vs bad strategy

in his book Good Strategy / Bad Strategy, Richard Rumelt describes good strategy as having "coherence, coordinating actions, policies, and resources so as to accomplish an important end"
he goes on to describe how many organisations don't have this, but instead have "multiple goals and initiatives that symbolise progress"
to achieve real progress you need a strategy, and to achieve that, ruthlessly prioritising your activities is key
put really simply, strategy is to get from where we are now (our problem statement) to where we want to be (our vision) - which makes Problem framing and Product Vision the two ends of a strategy