I agree with Steve Blank's article. Strategy is not a to do list. But then what is it? Strategy at the business/product level addresses the following four ques

I agree with Steve Blank's article. Strategy is not a to do list. But then what is it? Strategy at the business/product level addresses the following four questions: (1) Who is your target customer? (2) What value (in the form of a product and/or service) are you delivering to this customer? (3) What are your costs for delivering this value? (4) Are you delivering more value at a given cost (value advantage), or delivering equivalent value but at a lower cost (cost advantage), relative to your competitors? In limited cases you can compete on both value and cost simultaneously (dual advantage). The question is then what broad activities are you performing to deliver value to your customer (e.g., R&D, marketing), and what are the costs associated with performing these activities (e.g., time, equipment). Through activities, you want to maximize the wedge between value and cost for a particular segment of customers. The "to do list" then flows from these activities.