Corporate strategy deals primarily with the choice of direction for the firm as a whole and the management of its business or product portfolio.

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This statement is true. Corporate strategy involves making decisions about the direction and scope of a company's activities in order to achieve its long-term goals and objectives. This includes managing the organization's portfolio of businesses and products, as well as determining how to allocate resources and prioritize strategic initiatives.

Corporate Strategy Deals Primarily with the Choice of Direction for the Firm