IntroductionI researched Altria Group, Inc. and found that they used a growth strategy known as conglomerate diversification. This means that the industry they are currently in is completely unrelated to the industry they entered, through diversification. With this strategy, managers are more concerned with financial concerns such as cash flow. This is usually because the company's current industry is reaching peak growth and it needs to expand into other industries to get more opportunities for future growth. Altria is a parent company that manages Kraft Foods, Philip Morris International, Philip Morris USA, and Philip Morris Capital Corporation (Altria, 2008). The products they produce are tobacco, packaged foods, beverages and financial services. The United States and Europe are their main producers. SWOTAtouts Analysis: Versatility: They manufacture several products such as tobacco, packaged foods, beverages and financial services. Their versatility comes from their cigarette makers. The main cigarette brands of Philip Morris International are Marlboro, L&M, Philip Morris and Parliament (Altria, 2008). The main cigarette brands of Philip Morris USA are Marlboro, Basic, L&M, Parliament and Virginia Slims (Altria, 2008). John Middleton, Inc.'s brands include Black & Mild, Carter Hall, Middleton's Club, and Kentucky Club (Altria, 2008). Diversification: They have recently branched out into other sectors to achieve more growth, such as Philip Morris Capital Corporation. It is an investment company whose portfolio consists of leveraged and direct finance lease investments and other tax and third party financing. Altria also holds a 28.6% stake in SABMiller, the world's second largest brewer (Altria, 2008). Strong Corporate Governance: This company believes that for a company to have strong performance, it must have good corporate governance. They strive to be transparent in their governance practices and policies. They also strive to listen to their shareholders while managing the company for long-term success. Constant Innovation: This company’s growth is driven by its constant innovation. Constant innovation is the key to the future of their business. When they signed the Tobacco Settlement Agreement in 1988, it fundamentally changed the way cigarettes are advertised, promoted and sold in the United States. This impacts every aspect of Philip Morris USA's marketing practices. While respecting this agreement, they are also responsible in marketing to adult smokers. They also have policies and practices in place to resolve any issues with their primary stakeholders as well as their secondary stakeholders such as the general public, public health communities, parents, community leaders, policy makers and the government (Altria, 2008).