Hit the nail on the head
Having lived with this dichotomy for the last 20 years as an IT director, I completely agree with Elliot. This is something we must be actively aware of and devote time and thought to.
One additional aspect that I've observed is how the age or maturity of the organization affects these two roles. I've worked for a startup and a company that is over 100 years old. The needs and demands on the two roles can vary substantialy in these curcunstances.
However, in my experience, focusing on the transactional aspect of the job is an easy trap to fall into... both for the IT leader and the organization. Thinking and acting strategically, is often under valued but ultimately defines our success as IT leaders.