Markets > Vision > Strategy + Execution
First, vision drives strategy and customers and markets drives vision. Know the customer well. Also, "vision" is "functional" - about the entire company or any part of it like it or sales etc.
Second, develop principles by which you want to design strategies - such as "customer focus", "empowerment", or "communicate to everyone."
Third, strategy and execution are inseparable. Design them both together. Strategies won't work without an aligned execution fabric.
Fourth, strategy - and its execution - is change! Hopefully, it's innovative change. And it's proactive not reactive. And each company subgroup can have a sub-strategy that helps make the overall strategy work - which means the overall strategy might be tweaked. Bottom line: vision and strategy are iterative.
Fifth, strategy is subject to change - technology, people, money, etc. Create a "peripheral vision" capability up and down the company. Vision and overall strategy should be adjusted accordingly. More iteration!