Five types of corporate strategy have been identified by management consulting firm BCG. The most common is the Classical approach which follows a traditional planning and execution based on business analysis. The Adaptive approach is a reactionary method where business tactics are constantly forged to adapt to existing market trends. The Visionary approach is best associated with start-ups where everything flows top-down andbusiness innovation is given top priority. The Shaping approach looks ate being the aggregator of various other firms solving other ends of the business chain. The Renewal approach is best suited to current conditions where firms need to go back to basics and manage wit limited funds in sustainable manner.