I must have heard the words "we need to create a strategic plan" at least an order of magnitude more times than I have heard "we need to create a strategy." This is because most people see strategy as an exercise in producing a planning document. In this conception, strategy is manifested as a long list of initiatives with timeframes associated and resources assigned.
Somewhat intriguingly, at least to me, the initiatives are themselves often called "strategies." That is, each different initiative is a strategy and the plan is an organized list of the strategies.
Read the full story: