Strategy has two vital parts - formulation and implementation. The majority of enterprises concentrate solely on formulation and develop full-colour, pretty and pointless strategy. A strategy that ignores implementation simply isn't a strategy.
Equally strategy is not a check-box exercise, it is a mechanism to allow your enterprise to survive and provide benefits for your stakeholders. It is the quality of your thinking that counts not the font you choose.
It doesn't matter whether you are a private business, a public sector organisation or a not-for-profit, strategy helps answer three vital questions
What are we trying to achieve?
Who is it for?
Why should we be allowed to survive? Your enterprise isn't owed an existence.