**Core Concept**
The patient's presentation of hoarseness of voice for 2 years, combined with a history of chronic smoking and examination findings of a reddish area of mucosal irregularity overlying a portion of both cords, is highly suggestive of squamous cell carcinoma of the larynx. Early detection and management are critical to prevent further complications.

**Why the Correct Answer is Right**
The correct answer, cessation of smoking, is essential in the management of laryngeal cancer. Smoking is a major risk factor for the development of this disease, and quitting can significantly reduce the risk of recurrence and progression. The other options, while potentially relevant in the management of laryngeal cancer, are not the most appropriate choices in this context.

**Why Each Wrong Option is Incorrect**
**Option A:** Cessation of smoking is the correct answer, so this option is not incorrect. However, it is not the only choice listed, and the other options are not the best management strategies for this patient.
**Option B:** Bilateral cordectomy is a surgical procedure that involves the removal of one or both vocal cords. This option is incorrect because it is not a recommended initial management strategy for laryngeal cancer, especially in a patient with a potentially resectable tumor. In this case, the goal is to preserve vocal cord function as much as possible.
**Option C:** Microlaryngeal surgery for biopsy is an appropriate management strategy for this patient. It allows for the collection of tissue for histopathological examination, which is essential for confirming the diagnosis and determining the extent of the disease.
**Option D:** Regular follow-up is an essential component of the management of laryngeal cancer. It enables the early detection of recurrence or progression, allowing for timely intervention.

**Clinical Pearl / High-Yield Fact**
In patients with laryngeal cancer, it is essential to evaluate the vocal cord function and mobility before initiating treatment. This can be done through a laryngoscopy examination. Preservation of vocal cord function is critical for maintaining the patient's quality of life.

**✓ Correct Answer: B. Bilateral cordectomy.**