Final answer:
The assertion that large organizations have strategy activities at corporate, divisional, and functional levels is true, which reflects the hierarchical structure in strategy formulation and implementation.
Step-by-step explanation:
The statement that formulation, implementation, and evaluation of strategy activities occur at three hierarchical levels in a large organization, specifically at the corporate, divisional or strategic business unit, and functional levels, is true. Within an organization, these levels represent a structure for strategizing and operating that can help manage various aspects of the organization's operations. The corporate level involves decision-making and strategy formulation for the entire organization; the divisional or strategic business unit level provides strategies for specific units within the larger entity that have their own business and profit models; and finally, the functional level focuses on specific functions such as marketing, finance, or human resources, strategizing on how to best support the overall strategy through operational excellence in these areas.