Again a question with a variety of confusing responses, not least in the academic world and business press.  Essentially the way in which it can be easily explained is:

A business strategy is the choice of the markets for the products or services you are supplying.  It is also the basis of the competition that your product or services uses be successful.

In the cases where a company has one product serving one market the business strategy and corporate strategy will be the same.

As you can see there’s a pretty coherent link to corporate strategy best summarised as follows, at a corporate level strategy the choice is of industries and capability, at a business level it is products and markets.

See more on: Advice, Business Strategy