What do you mean by the word 'strategy?

All throughout our professional lives we hear people say ‘I’m writing my strategy’ and most of us have probably been told we need to be more strategic, but in business what does it even really mean, why is it so vague and do we even mean it at all? 

It's been a bigger break than intended but Luke & Danny are finally back with another episode of 'Stop! Your people need you' and to kick things back off with a bang, thought they would dive into exactly what do leaders & managers mean by 'strategy' or is it just a fancy name for something more simple?