On Strategy

I really like this article about setting strategy from HBS
Don't Let Strategy Become Planning

I would add:

• Strategy should help make the planning process simple
• Strategy is about making choices about how to move your business forward
• Strategy should come first (then initiatives, then budget etc) 

Yes, yes.  You need to have an eye on the budget etc. But setting an appropriate strategy can challenge (or enable) new discussion about initiative and budget.

If you don't have a strategy.  You're doomed.