I think of strategy as the opposite of execution. Strategy is about setting the stage for execution. Many of the best strategic minds I know are not operators. They are consultants, analysts, investors, pundits. I don’t know exactly why brilliant strategists often make terrible operators but I see it all the time.
And all of the best VCs and consultants I know are brilliant strategists. They understand where value is going to be in an emerging market, they understand how to get to the best strategically positioned companies first, and they understand how to guide those companies toward a strategy that wins the market.