First, strategy should include a clear set of long term goals.
Second components are that it should define the scope of the firm i.e. the types of products the firm will serve etc.
Thirdly, a strategy should have a clear statement of what competitive advantage it will achieve and sustain.
Finally, the strategy must represent the firms’ internal contest that will allow it to achieve a competitive advantage in the environment in which it has chosen to compete.
Thus, you may say,
‘Goals’ are ‘What’ of the strategy
‘Competitive Advantage; is how of the strategy and the logic; is the ‘Way’ of the strategy.