A design approach clearly defines all the architectural modules of the product along with its communication and data flow representation with the external and third party modules (if any). The internal design of all the modules of the proposed architecture should be clearly defined with the minutest of the details in DDS.
SRS is the reference for product architects to come out with the best architecture for the product to be developed. Based on the requirements specified in SRS, usually more than one design approach for the product architecture is proposed and documented in a DDS - Design Document Specification.
This DDS is reviewed by all the important stakeholders and based on various parameters as risk assessment, product robustness, design modularity, budget and time constraints, the best design approach is selected for the product.