identifying key components of a successful business strategy and discussing common mistakes that companies make when developing their strategies.

 Prior to beginning work on this discussion forum, read Five Steps to a Strategic Plan, The Single Strategy You Need to Fuel Business Growth Right Now, and Aligning Brand Portfolio Strategy with Business Strategy. In 150 words or more, what are three or four components of a well-thought-out, achievable, and reasonable business strategy? What mistakes do companies make when developing their strategies? These thoughts should be qualitative and generic – not discussing/ providing specific applications of how you may have gleaned competitive advantage (e.g., describing your business strategy).