After years of consultancy, I can see that in many organizations I should repeat the reply of the above question.
There are many definitions for strategy but as I always say I love the simplest one which makes sense and it is practical.
Strategy is the most optimized action plan to reach to our objective(s).
Let's go through the words one by one:
An optimized solution is NOT necessarily the shortest or the cheapest one. Right?
It's the most effective or/and the most efficient one.
On the other hand, many of us aren't able to distinguish between Strategy and Objective.
Objective is what we would like to reach to it for brining the result of our activities to the next level. Either in an organization or in our personal life, we always would like to improve.
How to make it?