What are your thoughts about the post below?

What are three or four components of a well-thought-out, achievable, and reasonable business strategy? Developing a business strategy can be a challenge if there is not enough information or data about the company. It is extremely important for management to know their line of business and can provide helpful data about the overall wellbeing of the business. After reading the resources Five Steps to a Strategic Plan, The Single Strategy You Need to Fuel Business Growth Right Now, and Aligning Brand Portfolio Strategy with Business Strategys has provided great feedback about several components of well-thought-out, achievable, and reasonable business strategy. Knowing where your company is in terms of market and comparison to competitors is one of the most important components in strategy planning. According to Aileron, A strategic plan looks at all the things your small business could do and narrows it down to the things it is good at doing (2011, para. 2). Managers must ask their selves questions about where their business is currently and how they plan to accomplish future goals. This is where the SWOT analysis tool can be very beneficial to assist a company in making the right business decisions. The second critical component is identifying what is essential for the business. This component focuses mainly on what drives the business, the mission statement, and whats the plans in terms of staying ahead of the competition. Setting goals is key for business success because it shows the milestones of where the business once was and how it progresses to becoming successful. There is no progress in having no goals because you have nothing to motivate towards better. The third component is vital to success and competitive advantage within any line of business. Knowing what you want and how you expect to get there is what makes businesses thrive in the market. Every company wants to be at the top, but what makes companies like JP Morgan Chase Bank one of the top banks are the future goals that are set and achieved over time. What mistakes do companies make when developing their strategies? There is always room for mistakes when planning business strategies. One of the biggest mistakes is not paying close attention to what consumers and expect from businesses' products and services. If companies are not giving their consumers what they want it can cause a shift in their profits because customers are not happy. Reputation is everything in business, which is why most companies are aware of the importance of satisfying their customers and making the necessary adjustments to provide them with what they need. To better meet the needs of customers and attract new markets, a business must focus on enhancing the customer experience as a top priority influencing its marketing strategies (Paunovic, 2017, para. 3). Exceptional customer service is what drives a business to become successful and focusing more on customers will contribute to developing a great strategic plan that benefits the overall health of the business.