Which strategy is implemented by redefining the business, by enlarging its scope of business and substantially increasing investment in the…

The strategy in question is the growth/expansion strategy. The Growth/Expansion strategy involves redefining the business, expanding its scope, and significantly increasing investments. This dynamic and vigorous approach is synonymous with promise and success. It entails a substantial reformulation of goals, major initiatives, and strategic moves, including investments, exploration into new products, technologies, and markets, and innovative decision-making. While promising growth, this strategy navigates the enterprise through relatively unknown and risky paths, rich with potential but also pitfalls. Major Reasons for Adopting Growth/Expansion Strategy: It may become imperative when environment demands increase in pace of activity.Strategists may feel more satisfied with the prospects of growth from expansion; chief executives may take pride in presiding over organizations perceived to be growth-oriented.Expansion may lead to greater control over the market vis-a-vis competitors.Advantages from the experience curve and scale of operations may accrue.Expansion also includes intensifying, diversifying, acquiring and merging businesses.