This paper analyzes the appropriateness of the concepts of a truly global strategy in strategic leadership put forward by Yip in his book “Total Global Strategy” as applied in the consumable business sector with a focus on the beverage industry. Yip suggests that simply operating globally does not mean a company possesses a global strategy. Yip argues that “the global company does not have to be everywhere but has the capability to go everywhere, deploy any asset and access resources and maximize profit on a global basis”. This concept is what in the author’s opinion could be referred to as “A Truly Global Strategy”. The paper uses a reflective methodology to examine the Coca-Cola global strategy model and compares it with a few selected business cases to ascertain the strength of Yip’s model. By reflecting on the past experiences of the selected cases the author hopes to draw an inductive conclusion. Analysis of the selected business cases suggests a weak fit between the Yip model of a truly Global strategy and strategy levers leveraged by successful companies like Coca-Cola in the beverage industry for effective implementation of a global strategy. The paper concludes that in the beverage industry, a multi-local driven strategy may prevail over a truly global strategy depending on the globalization potential of the industry determined by the extent of focus of the strategy, the spread of globalization and the extent of standardization or adaptation of the strategy. Such globalization potentials are based on the industry’s globalization drivers, organizational factors and the Global strategy levers of the organization