Strategy is an approach in consonance with the goal the company wants to achieve. The strategies are formulated for the short and long run according to the goals of the company. The goals indicate what a company wants to achieve in a given environment and time frame; the strategy answers how to get there. Every business must develop a tailor-made strategy for achieving its goals. The corporate business strategies should possess three generic points: overall cost leadership, differentiation, and focus. The managerial strategy in business should be to reduce the cost of production and distribution. The company cultivates the strengths that will give it a competitive advantage in one or more benefits. The companies seeking quality leadership must make or buy the best components put together expertly after careful examination.