What is the distinct focus of business strategy in contrast to corporate strategy?

The distinct focus of business strategy centers on forging actions to compete effectively within a specific line of business. This involves determining how to position the company against competitors and create a competitive advantage in the marketplace. Key elements of business strategy include differentiating products or services, identifying target customer segments, and establishing pricing strategies.

In contrast, corporate strategy is broader and relates to decisions about which markets or industries to operate in, including decisions on entering new businesses, which is a function typically associated with corporate strategy. The business strategy is more about the "how" within a specific context, whereas corporate strategy focuses on the "what" regarding the company’s overall portfolio of businesses.

The other choices, while related to strategic considerations, do not specifically define the unique focus of business strategy. For example, coordinating approaches between different business units pertains more to corporate strategy and management efficiency rather than competitive actions in a particular market. Similarly, choosing business models is about operational structure across various segments rather than the competitive tactics employed within a single industry.