This document provides an overview of developing and executing business strategy. It discusses defining strategy, vision, objectives and annual improvement priorities. It emphasizes understanding the current business situation, identifying gaps, and linking strategy to policies, processes, and metrics. Tools like strategy maps and X-matrices can show these connections. Developing strategy requires active leadership participation and change management to reconcile it with daily operations. The process then repeats annually to achieve objectives and evolve the business vision over 3 to 5 years.