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The birth of GUI is a milestone in the development of software. It is very popular and welcomed by the consumers because of its friendly user interface and easy straightforward operations. Graphical User Interface (GUI) design is currently shifting from designing GUIs composed of standard widgets to designing GUIs relying on more natural interactions and adhoc widgets. This shift is meant to support the advent of GUIs providing users with more adapted and natural interaction and the support of new input devices such as multi-touch screens. Standards widgets (eg. buttons) are more and more replaced by adhoc ones (eg. the drawing area of graphical editors) and interaction are shifting from mono-event (eg. button pressures) to multi event interactions (eg. Multi-touch and gesture-based interactions).Model based testing is a technique to design abstract tests from models that partially describe the system's behavior. As a consequence, the current GUI model based testing approaches, which target event based systems, show their limits when applied to test such new advanced GUIs. Functional testing is also referred to as black box testing in which contents of the black box are not known. Functionality of the black box is understood on the basis of the inputs and outputs in software. Component based software development is used for making a new software product rapidly by using fewer resources. Different components are collected and integrated together to form new product therefore the quality of new software product depends upon these components. To ensure quality of overall product testing of each component is essential. But problems arise during testing when tester has limited access to the components. The use of a model to describe the behavior of a system is a proven and major advantage to test development teams. Models can be utilized in many ways throughout the product life-cycle, including improved quality of specifications, code generation, reliability analysis, and test generation. This paper discusses the comparison of component based testing and Model based testing through GUI of such software products. Some important strategies are also discussed in this paper and considering different testing issues and a new component and model based testing strategy is proposed. A case study of component and model based system is also used to validate the effectiveness of this strategy. Also it will focus on the testing benefits from Model based testing methods and component based testing to share our experiences from a long term industrial evaluation on automatically extracting models of GUI applications and utilizing the extracted models to automate and support GUI testing.