2.

1 Review the effectiveness of the business

Business effectiveness means getting the right things done to accomplish the business goals and
objectives as well as creating a better brand value in the market. Particularly, business
effectiveness considers managing different sectors effectively within a business firm which helps
to attain a specific and distinctive position in the highly competitive market (Berman, Knight and
Case, 2008). A brief discussion of business effectiveness within a business industry is given
below:

 Product/Service: The offerings are one of the major issues of any business organisation.
Like other business organisation, XYZ Foods need to offer unique and quality products in
the market which will give them a sustainable competitive advantage in the market. They
need to put different ingredients in their food items to differentiate their foods from
competitors which can be done through quality control.
 Marketing: In the modern era, marketing plays a very crucial role in the success of the
business. XYZ Foods need to introduce a creative and effective marketing programme for
promoting or adverting its products (Drucker, 2015). As digital marketing is becoming
more popular around the globe day by day, an effective campaign can be a good option
for capturing a huge audience. Digital marketing requires less cost than traditional
marketing which will give them a cost-effective advantage.
 Sales and Finance: Sales and finance are very sensitive and essential sectors for any
business organisation. In these sectors of XYZ Foods, highly effective and proper
decision-making by the management is compulsory. Because sales and finance are the
major indicators of business success and any inaccurate decision can ruin the business
firm.
 Stuffing: Stuffing is another significant issue for any business organisation. The
workforce and staff are the resources for the company. XYZ Foods need to ensure proper
training and job security for the employees so that they can execute the business
operations smoothly.
 Business Image: Business image refers to goodwill in the market. A positive or good
business image helps to increase the leads or sales of a business organisation (My
 Accounting Course, n.d.). As XYZ Foods is a renowned company in the market, they
have a large and loyal customer base. The business or brand image assists to increase the
sales growth of the business firm.

 Record Keeping: Record keeping consists of collecting various data or information.

XYZ Foods keep its financial data in a good manner for avoiding any financial errors
(Golden Pryor, 2019). Also, they keep feedback which came from the customers. From
the feedback, they can easily identify their drawbacks and can work to minimise or solve
these drawbacks.

These are some basic and fundamental business effectiveness sections for XYZ Foods.
Management needs to consider these sections carefully to establish XYZ Foods as the market
leader and increase sales growth as well as profit margin.
References

Berman, K., Knight, J. and Case, J. (2008). Financial intelligence for entrepreneurs: what you
really need to know about the numbers. Boston, Mass.: Harvard Business Press.

Drucker, P.F. (2015). Managing for Business Effectiveness. [online] Harvard Business Review.
Available at: https://hbr.org/1963/05/managing-for-business-effectiveness [Accessed 23 Jan.
2023].

Golden Pryor, M. (2019). Effectiveness and Efficiency - organization, levels, examples, school,
type, company, business. [online] Referenceforbusiness.com. Available at:
https://www.referenceforbusiness.com/management/De-Ele/Effectiveness-and-Efficiency.html
[Accessed 23 Jan. 2023].

My Accounting Course (n.d.). What is Effectiveness? [online] My Accounting Course. Available

at: https://www.myaccountingcourse.com/accounting-dictionary/effectiveness.