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Strategy is a game plan designed by the organization to achieve the goals and objectives. Sadler defines the strategy as a desired action taken by an organization is strategic and planned towards the maximization of profit and minimization of the cost. According to Craig, the business decisions are focused on the strategic move of the organization to attain competitive advantage in the business economy. There are different schools of thought that differ in terms of their definition for strategy. To start with the Design School of Thought focuses on the role of strategy as a coherent, balanced and a deliberate process which emerges out of a certain goal fulfillment. An example of this school of thought is the BMW cars which calls for a design for their product based on the customer focus and supplier relationship. Whereas to Craig (2003) is an Evolutionary School of Thought, the game plan or the strategic process adopted by the organizations is an evolutionary process which develops from the trail and error method and from experimentation. For Example- E-grocery shopping style adopted by Wal Mart is an example of strategy as an evolutionary process. Some authors define the existence of strategy as a process takes place from the external factors of the industry to which the company belong. This approach of strategy is defined as an Industrial design approach. To Resource Based approach, the focus is laid on the internal factors. The internal factors of the organization comprise of the production process and how it contributes to the goal fulfillment. According to Sadler (2003) Volkswagen set up production facility in Slovakia to have a competitive advantage in the international market. Amazon.com is another good example of resource based approach. In this case, the company has the services with the distribution resources to operate profitably. The process of strategy formulation is defined differently by different thinkers. The companies seem to adopt this different strategy to achieve the goals.