Which of the following describes business expansion strategies?

The selection of techniques to grow a business through various means accurately characterizes business expansion strategies. These strategies can include a wide range of approaches, such as entering new markets, developing new products, acquiring other businesses, or forming partnerships. The focus is on increasing the overall scale and reach of the business, which can lead to higher revenue and market presence.

Business expansion aims to leverage resources and capabilities to achieve growth, thereby enhancing competitiveness and long-term sustainability. This can involve not just optimizing current operations but proactively seeking opportunities for growth that could transform the business landscape.

In contrast, the other options refer to more limited aspects of business strategy. For instance, focusing solely on optimizing existing resources or improving employee performance addresses internal efficiencies rather than outward growth. Maintaining current market share does not involve expansion strategies but rather aims to sustain the status quo in a competitive environment.