Strategy is simply making choices of what to do and what not to do. This impacts the direction of the company, and how you invest your money, time and energy. A good measurement system is necessary to ensure that you are reaching your destination in all the things you do.
Strategic positioning on the other hand, is doing different activities vs. your competitors, or doing similar things in different ways. This differs from operational effectiveness, which is trying to do the same thing as competitors, but better at it than them.