Thalassemia is a group of inherited disorders caused by mutations that decrease the synthesis of the alpha and beta globin chains of hemoglobin, leading to anemia. The approach to diagnosing thalassemia involves taking a medical history focusing on factors like family history, clinical examination looking for signs of anemia, jaundice and skeletal abnormalities, and laboratory investigations including complete blood count, hemoglobin electrophoresis, bone marrow examination and genetic analysis to identify the specific mutation causing the condition.