Business strategy is the set of market and go-to-market choices a company makes — distinct from Product Strategy (which problems to solve) and Product Vision (long-term direction). "Strategy" is an overloaded word covering all three.
In healthy companies, business strategy and product strategy coexist and inform each other in both directions: business strategy shapes product strategy (it supplies one of product strategy's two inputs, via company objectives), but product strategy can also reshape business strategy over time as product discovery surfaces new opportunities or constraints.
Business strategy, Go-to-Market Strategy, and Product Strategy form a triad of distinct but interrelated choices: business strategy sets market and monetization direction, go-to-market strategy governs how the product reaches and is sold to customers, and product strategy decides which problems the product org solves to get there.
A business-strategy shift typically surfaces to the product org as an OKR or KPI target (e.g., 'a third of revenue from Europe by year end') — not as a prescribed feature list. It's then on the product org to run Discovery (Product Discovery Process) to find out what actually needs to change to hit that target, and on product strategy to decide which of those changes matters most right now.