Hello everybody!! I am sharing here a brief definition of Business Strategy that derives from broader research (from the field and war context to academic and practical studies on the topic applied to business).
I would be very happy to receive feedback that can expand the discussion and learning!
The definition considers the BANI world context ('brittle', 'anxious', 'nonlinear' and 'incomprehensible'), and understands innovation as an intrinsic and indissoluble theme of strategy.

Note: this is currently being applied and tested in Consulting projects to start some debates and reconstruct the visions of working groups.

BUSINESS STRATEGY (MindCo. – Brazil): 

“Strategy is planning process combined with the conscious and consistent execution of a set of objectives and transformations designed to extract the best results in the context/scenario and time frame in which they will be applied.

- Its definition has an intentional character and the perspective of achieving results or future objectives, working as a guide. Its construction demands awareness about the current position and allows choosing paths (among multiple options) to reach a new (and primarily better) position in the future.
- The act of planning is a cut of reality and not its totality. Having its objectives allocated in a possible future, it can be influenced by cognitive biases and repertoires of its creators.
- You can explore various elements such as sources of revenue and investments, markets in which you operate, competitive advantages, positioning in relation to competitors, partnerships, among others.
- The application context/scenario is volatile and redefined by the actions of its participants: technological evolution, events or behavioural changes, social transformation, economic facts, among others. These being predictable and/or unpredictable.
- In addition to context volatility, the “non-finite” view should be considered, since new contexts are created and recreated, so what is planned becomes temporal (transitory), with the need for continuous review, as well as the definition and redefinition of what are positions of advantage or disadvantage over time.
- The evaluation and understanding of “results” need to concatenate short-, medium- and long-term themes, with communication with stakeholders and the markets that impact or that have dependency.
- Having the “results” financial characteristics that are directly related to the sustainability of the business and not just its profitability, and non-financial characteristics that can impact/influence the business, requiring the evaluation of other spheres, relationships or even what it is defined as “result”.”