Bloomberg Businessweek ran an article on Best Buy's woes that speak well to the issue of "strategy".
Best Buy is struggling in the marketplace because of online retailers such as Amazon. Circuit City has already closed its business. Frank Trestman, former board member, is reported saying that "the strategy to counteract [the Internet threat] wasn't in place or executed in time. It's a management failing. It's a board failing." (2012, pg. 74)
Corporate boards have an essential voice in the development and execution of corporate strategy. Board members bring extensive knowledge about and a set of experiences from global markets, leverage of capital, and industries. Their's is a powerful voice to the corporation's strategy relative to competition of scale and scope.
Corporate employees -- from the "front-line" workers to management -- too play a key role in corporate strategy. They work directly with customers and suppliers, deal with logistics and shipping, and solve problems associated with those areas.
The Business Strategy Studio™ is a high-end space where your people gather in small groups to formulate their ideas, to build capital, and to ready themselves to strategically engage the corporation in moving power in the marketplace. The capacity to organize and engage these critical corporate voices -- the board, management, and employees -- is an organizational method for corporate innovation and strategy. That capacity permits greater opportunity to execute competent corporate-wide strategy for improved earnings and stronger market position.