Strategy is defined as the act of establishing a business direction that will successfully lead an organization into profit (Kaplan and Norton, 1996). Kaplan and Norton (1996) argue that the focal point of strategy formulation is how to effectively draw on business intelligence acquired from an organisation's internal and external environment. An organization's unique capabilities, resources and processes are considered its core competences. These core competences determine the organization's unique position against its competitors within its external business environment (Prahalad and Hamel, 1990).