Global Strategic Management (10756524)company”. Strategic management involves strategic process, which is when CCAdefines business objectives and assesses both the internal and external situation toformulate and implement the strategy, evaluate the process, and make adjustments asnecessary to stay on track. It involves environmental scanning, strategy formulation,strategy implementation and evaluation and control (Azam 2009, pp.1).In order to construct strategies for CCA, the major objective to be focused upon is tomaximize profitability, thus increase value of the firm. First and foremost, accessingthe internal strength and weaknesses of CCA is very crucial. Relative superiority anddeficiency is important information (Khan 2008, pp.8). For instance, knowing thatCCA’s business in South Korea was not benefiting and causing problems regardinghuman labor and too much expense, CCA made a crucial decision to close down thefacility. This act shows how CCA has minimized its weakness and liability (Fin.Report 2008).While internal strength and weakness can be accessed through CCA’s managers,external components involving the industry are more complicated. The threats andopportunities that lies in the surroundings of CCA refers to the general environment,that will be discussed later on in this paper.
3.1.Expanding into markets
Currently, CCA controls about 59% of the world market, greater than any other carbonated drink company. Expanding into market can be done by acquiring other companies that operate in the same industry for the reason that CCA have larger sharein the beverage industry, such as mineral waters, alcoholic drinks or juice. However,expansion is better if its within the soft drink segment, because it is one of the largestgrowing segment in the nonalcoholic ready-to-drink beverage category. CCA can alsoincrease its market share independently, through strategic management that caterstowards maximizing the potential of the company, but compact the weaknesses, sothat it will not cost a liability to the firm. The firm’s definite strength is the fact that ithas a larger market share, its historic reputation and brand familiarity. Strategies usedto capitalize this strength include: increasing people’s awareness towards the productthrough effective marketing, advertising and promotions; also invest in innovative projects to further develop existing products. Such innovations may include2