In the past, companies gained a strategic advantage by excelling in supply chains, logistics, manufacturing, and other operational capabilities. Today, companies win or lose based on the quality of their products

Difficulty prioritizing is often a strategy issue, not an execution issue. It is impossible to make rigorous prioritization decisions when the guidance on how to do so is missing, unclear or disconnected from what you are trying to do.

Gaps in strategy make it harder for teams to execute. This results in loss of opportunities. Execution becomes much easier when the strategy is clearly defined, communicated and connected to the company's mission and its day-to-day work.

Company Mission - The world your company sees and the change it wants to bring to that world.
Company Strategy - The logical plan you have to bring your company’s mission into being.
Product Strategy - The logical plan for how the product will drive its part of the company strategy.
Product Roadmap - The sequence of features that implement the Product Strategy.
Product Goals - The quarterly and day-to-day outcomes of the Product Roadmap that measure progress against the Product Strategy.

Although the mission and strategy for Slack and Discord are entirely different, there is significant overlap in the work their product teams have done. A PM at Slack and a PM at Discord might be working towards the same product goal, but in service of entirely different company strategies. Therefore, it is critical for roadmaps and goals to be tethered to product and company strategy rather than defined in isolation.

Strategy is the plan to achieve your goal—not the goal itself. Your strategy tells the team how they will win. The goals tell your team what winning looks like.

achieving goals does not necessarily mean that a company has made progress on its strategy.

A common mistake is for product leaders to assume that product strategy is the same as company strategy. In doing so, they under-appreciate the role that sales, marketing, support, and other functions play in company success. Product has become more central to strategy as logistics/operations have been commoditized, but product is not the exclusive driver.

goals should flow from a product roadmap that has been designed to deliver value to users.

The Company Mission defines the company's purpose. A good Company Mission is aspirational and has emotional appeal—it motivates your team to come to work every day and your customers to embrace the role your company plays in their lives.

Your Company Mission should only change as the company's view of the world changes

Some companies define both a vision and a mission. In this case, "vision" is a description of the world your company sees, and "mission" is the role your company plays in that world.

Company Strategy
The logical plan you have to bring your company’s mission into being.