What constitutes a corporate strategy?

A corporate strategy primarily involves defining the overall scope and direction of an organization, which includes determining the set of markets or industries the business chooses to compete in. This encompasses decisions about entering new markets, acquiring other businesses, or divesting from non-core areas. By identifying the specific industries and markets in which to operate, a company aligns its resources and capabilities to strategically position itself for long-term success.

The other choices, while relevant to business operations, do not encapsulate the essence of corporate strategy. Actions to compete in a specific industry focus more on competitive strategies rather than the broader scope of corporate strategy. Similarly, ways to promote products concentrate on marketing tactics, and approaches to employee management are aligned with human resource strategies. However, none of these choices relate directly to the overarching strategic decisions regarding market selection that define corporate strategy.