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RATED P’s PUTO CHEESE with FILLINGS: “Taste the Filling that Will Last Long, Savor the Flavor”A Business Operation Report Presented to the Faculty of Senior High School Southwestern University PHINMA Urgello Street, Cebu City, PhilippinesBy 12 ABM N Florence Ann P. Boyles Jessa Mae F. Gerzon Virn D....

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RATED P’s PUTO CHEESE with FILLINGS: “Taste the Filling that Will Last Long, Savor the Flavor”

A Business Operation Report Presented to the Faculty of Senior High School Southwestern University PHINMA Urgello Street, Cebu City, Philippines

By 12 ABM N6

Florence Ann P. Boyles Jessa Mae F. Gerzon Virn D. Lomente Mikaela V. Rivera Christy Mae C. Rodimo

October 4, 2018

ACKNOWLEDGEMENT This business had gone through its ups and downs and was able to withstand its hardships. We will not be able to successfully conduct this business without their help. We would like to recognize the customers who have given their trust and loyalty to our business and its product. We would also like to thank our Accounting and Marketing Teacher, Mr. Jezreel Flores, for guiding us when it comes to business line. We would also like to acknowledge the undying support and inspiration our parents have given us. Most importantly, we would offer all our efforts and thanksgiving to our Almighty God for making this business a blessing. With this inception, thanks!

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Table of Contents Page Acknowledgement

2

I.EXECUTIVE SUMMARY

5

II.BACKGROUND/ BUSINESS INFORMATION

6

A. Description of the Business

6

B. Business Vision, Mission and Objectives

7

III. MARKETING

8

A. Market Assessment

8

B. Marketing Mix

9

C. Description of Competition

15

D. Industry and Market Analysis

16

IV.OPERATIONS AND PRODUCTIONS

18

A. Business Organization

18

B. Business Capitalization

29

C. Process of Production

30

D. Gantt Chart of Activities

33

V. Financial Performance and Projections A. Journal Entry

34 34

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B. T-Accounts

36

C. Trial Balance

37

D. Statement of Financial Performance

38

E. Statement of Changes in Owner’s Equity

39

F. Statement of Cash Flows

40

G. Statement of Financial Position

41

H. Financial Forecast

42

I. Financial Ratios

43

VI. Business Strategies and Plans

44

VII. Problems Encountered and Solutions Provided

46

A.Marketing Related:

46

B.Financial Operation Related

46

C.Organization Related

47

D.Procedure or Method Related

48

VIII. Lessons Learned in Conducting the Business

49

IX. Appendices/ Documentation

50

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CHAPTER I

EXECUTIVE SUMMARY

This business is to create a snack food for the customers especially for students on Southwestern University PHINMA that is affordable yet would satisfy their cravings. The marketers of this business sells Puto Cheese with Fillings made like from the basic Puto Cheese topped with cheese yet with a twist of choco fillings inside. The business owners knows that the business will expand someday to the other locations and have a better variety of products. Though there are lots of competitors surrounded by this business, the management team of this business have enough experience when it comes to selling a product and when dedicated business owners work together, the business itself can meet the competition in the food industry.

The assigned cook are well informed on how to make the

product and they also take the responsibility of their roles seriously. Once the product is successfully created marketers sell the product. This business has P1334.50 cash on hand and had a total earning of P425.56 income for just a month with a Product Life Cycle continuously in Growth stage. To gain more income the business

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owners decided to grab selling opportunities especially during school events. CHAPTER II BACKGROUND/ BUSINESS INFORMATION A. Description of the Business 1. Profile and Location of the Business In Philippines, Puto is a cute little steamed cake topped with cheese. Usually these types of treats are served during snack time. Our business simply offers a product called “Puto Cheese with Fillings” where it is just a mainstream Puto topped with melted cheese yet has the enhancement of choco fillings inside. In this, customers will appreciate the chocolatey taste that blends well with the cheesy savor. “Puto Cheese with Fillings” is a partnership business headed by Mr.

Virn D. Lomente together with Ms.

Christy Mae Rodimo

partnered with the contributors; Ms. Jessa Mae Gerzon, Ms. Mikaela Rivera and Ms. Florence Ann Boyles and is located at Southwestern University PHINMA, Urgello St., Cebu City, Philippines.

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B. Business Vision, Mission and Objectives MISSION To make an affordable product, inspired by Filipino snack to aspire everyone fueling their stomachs and enlightening their minds. VISION Satisfying cravings on its affordability with a quality, while preserving ones culture. Objectives These are the objectives we plan to reach in the future: •To generate profit. •To satisfy the cravings of the students. •To make a better advertisement of the product. •To encourage the customers to buy our product through marketing strategy. •To grab the selling opportunities of certain events in school.

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•To be able to find a supplier that is suitable and budget friendly for the business. CHAPTER III MARKETING A.Market Assessment The market has been thoroughly observed since marketers are directly seeing the environment of its target market. The observation of the needs and wants to its demands were the great advantage of the marketers in terms of satisfying the customers. The opportunities in our business are that we can expand the scope of our consumers since the location of the business has a great number of consumers and create more new product in the future. The indirect and direct competitors in our business could be the threats since the type of business is known in the location. On the other hand unique factors that our product possesses are the taste itself and how it is made and given some twists. The changing demands of wants and needs of customers from seasons to events and situations are some of the issues and trends that will drive change. Our target is to provide our customers the satisfaction from quality to affordability with our puto cheese with fillings.

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A. Marketing Mix 1. Product and Services The puto cheese of the business is no ordinary because of its fillings that will give the amazing twist and taste with the guarantee of its affordability. It is made in an ordinary or usual puto cheese recipe with flour, sugar, milk, eggs, butter, baking powder and water. What makes it extraordinary is the chocolate fillings that we added that makes us different from the others and other puto cheese. We can assure the customers that they can have the great qualities of the product that they are looking for. So far, amazing feedbacks from customers from the taste to affordability in satisfying their hunger are greatly appreciated. The product shown below is the Rated-P’s puto cheese with fillings comes from different pastel colors filled with the favorite Filipino-made chocolate inspired by Kisses and topped with cheese for its perfect taste to savor. Making the products’ size, shape and flavors’ makes it unique. In just two pesos with its watering mouth bite, it will satisfy your cravings and to subsidies the hunger and making your

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stomach full. With the service of our friendly vendors and product’s eye catching and affordability is our greatest attributes to the success of this business.

2. Pricing

Page

For the pricing, we used the penetration pricing strategy, to attract customers to our new product, which includes presenting a low price for our product during its initial offering. The lower the price helps to lure customers away from competitors. This marketing strategy relies on the idea of low prices making a customer aware of a new product that can lead the customers to try the new product. Also we considered bundling or by packed selling that will make our product more affordable and for us to sell more and even earn more profit in a day. However, number of sold product varies also in what time of the day.

PRICE

Quantity

Regular

2

Each

Medium

20

11

(Limited Special Offer) Large

secondary

packaging

secondary

packaging

(box) 30

(Limited Special Offer)

w/

15 /

(box)

3. Promotion

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Advertising is very influential to promote the product. Using brochures, flyers and websites are our ways to promote our product. We also communicate with customers through personal conversations or words of mouth and introduce the product to customers. We usually do personal interaction or personal promotion to our customers in events like senior high school days and other events and also in everyday business. The business generates more awareness through promotion in social media since everyone has social accounts, we created Facebook pages, instagram account and other websites for product promotion. For our location, we will always be selling in senior high school department since their overall population is more than enough to sell all the products we produce in a day but you can make a call or visit in person or website to buy our product or to have pre-orders. Directly seeing and hearing the reactions and comments of the consumers helped us to improve and find ways to satisfy more customers.

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3.1

Brochures

3.2 Social Media

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4. Place The main venue of the business is in Southwestern University PHINMA in Villa Aznar Street Cebu, City. The annual selling of product takes place in Southwestern University PHINMA in senior high school building 3rd floor room 138. We are also planning to expand the scope of the business in terms of its location. We would like to have more place In SWU PHIMNA Main Campus as well that will help us in selling more products.

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B. Description of Competition Some threats for business we face are the indirect and direct competitors. The direct competitors are the ones who offer the same or similar product as our business. Examples of direct competitors are

 heese, bread, street any business who manufactures and sell puto c food and other food related business products like the University canteen and other student vendors inside the campus also the outside vendors or bakery like Julie's and other street food vendors. The indirect competitors are the ones who may not offer the similar products but does still affect the competition in satisfying the customers’ wants and needs.

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C. Industry and Market Analysis SWOT Analysis Strengths ➢ The puto cheese with fillings has a large target market especially thestudents and eaters to a variety of ages ➢ Affordable price with its best quality

➢ The twist is new to customers which will be a quite interesting to them Weaknesses ➢ Too many snacks around they more prefer with ➢ Our product is not known for some ➢ Time consuming for production Opportunities ➢ We can create more flavors out of puto cheese fillings ➢ The business has the opportunity of expansion ➢ To improve the product’s design and promotion

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Threats ➢ Lots of puto cheese vendors which are now known for customers ➢ Co-classmates sells snacks which may better or cheaper from us

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CHAPTER IV OPERATIONS AND PRODUCTIONS A. Business Organization Our business is in the form of partnership. The business is run by Mr. Virn Lomente, the Chief Executive Officer, in partnership with Ms. Christy Rodimo, the Chief Operational Officer, Ms. Jessa Gerzon, Ms. Boyles, Ms. Mikaela Rivera. The group is equally divided into three different

departments

namely

Finance

Department,

Marketing

Department and Production Department headed by Ms. Gerzon, Ms. Rivera and Ms. Boyles respectively. We choose to be in a partnership because we believe that no man is an island, and we can double our resource and having the ability to reach customers. Lastly, we can promote greater creativity and can help take greater risks.

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1. Organizational Structure

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2. Composition, Teams and Members Chief Executive Officer (CEO): A chief executive officer (CEO) is the highest-ranking executive in the business, and their primary responsibilities include making major corporate decisions, managing the overall operations and resources

of

a

company,

and

acting

as

the

main

point

of

communication among the members in the team. A. Duties of Chief Executive Officer ● Being a Leader he advises the team, promotes business and motivates the members in an organization. ● Being a Visionary / Information Bearer he ensures that the staff has sufficient and up-to-date information and looks ahead for change opportunities. ● Being a Decision Maker he formulates policies and planning recommendations to the team and decides or guides actions to be operated by the members. ● Being a Manager he Oversees operations of organization and implements plans.

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● Being a Board Developer he assists in the selection and evaluation of members, makes recommendations, and supports team during orientation and self-evaluation.

B. Responsibilities of Chief Executive Officer

1. Board Administration and Support

Supports operations and administration of the team by advising and informing members.

2. Program, Product and Service Delivery

Oversees design, marketing, promotion, delivery and quality of programs, products and services 3. Financial and Risk Management Recommends budget for team approval and prudently manages team's resources within the budget. 4. Community and Public Relations Assures the organization and its mission, programs, products and services are consistently presented in strong, positive image. 5. Fundraising Oversees fundraising planning and implementation, including identifying

resource

requirements,

researching

funding

sources,

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submitting proposals and administrating fundraising records and documentation. C. Qualifications of Chief Executive Officer CEO's must be effective in communication, possess leadership and management skills and have the ability to work under pressure and handle the aforementioned stress of the job Chief Operating Officer or COO: To

oversee

procedures.

the

organization’s

ongoing

operations

and

You will be the company’s second-in-command and

responsible for the efficiency of business. A. Duties of Chief Operating Officer: The COO is a key member of the senior management team reporting only to the Chief Executive Officer (CEO). She’ll have to maintain control of diverse business operations, so we expect her to be an experienced and efficient leader. B. Responsibilities of Chief Operating Officer: ● Design and implement business strategies, plans and procedures ● Set comprehensive goals for performance and growth ● Establish policies that promote business mission and vision

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● Oversee daily operations of the company ● Lead members to encourage maximum performance and dedication ● Write and submit reports to the CEO in all matters of importance ● Assist CEO in fundraising ventures ● Participate in expansion activities ● Manage relationships with partners/vendors C. Qualifications of Chief Operating Officer: ● Understanding of business functions such as, Finance, marketing etc. ● Demonstrable competency in strategic planning and business development ● Experience in fundraising will be a plus ● Working knowledge of data analysis and performance/ ● Outstanding organizational and leadership abilities ● Excellent interpersonal and public speaking skills ●

Aptitude in decision-making and problem-solving

Finance Manager A Finance Manager distributes the financial resources of a company, is responsible for the budget planning, and supports the executive management team by offering insights and financial advice

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that will allow them to make the best business decisions for the company. A. Duties and Responsibilities of Finance Manager ● Collecting, interpreting and reviewing financial information ● Predicting future financial trends ● Reporting to CEO and providing advice how the team and future business decisions might be impacted ● Producing financial reports related to budgets, account payables, account receivables, expenses etc. ● Reviewing, monitoring and managing budgets ● Developing strategies that work to minimize financial risk ● Analyzing market trends and competitors B. Qualifications of Finance Manager

● An analytical mind ● Negotiation skills and the ability to develop strong working relationships ● Commercial and business awareness ● Good communication skills – both written and verbal ● A keen eye for detail and desire to probe further into data ● Ability to stick to time constraint.

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Marketing Manager

A marketing

manager is

someone

who

manages

the

marketing of a business or product. They can be responsible for several services or products, or be in charge of a single product. A. Duties of Marketing Manager ● Works with CEO, she is to assist the CEO in determining the marketing plans so that all the problems of the process of planning may be removed and sound plans may be formulated. ● Supervise and coordinate business activities ● A marketing manager has to establish effective co-ordination among the business activities of purchase, sale, packing, storage, transportation, advertisement, sales promotion, after sale-services, etc. ● Identify Potential Markets ● To create and increase the demand of the goods and services produced by the team. ● Evaluate the Product ● To study all changes and evaluate the product periodically so that necessary modifications and alterations may be made in the product.

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● Launch new product or services ● To attract new customers and retain old customers, marketing manager study needs and demands of the market. ● Select the Channels of Distribution ● The physical distribution of goods and services through many channels viz. wholesalers, retailers, etc. is decided by the marketing manager ● Create a market plan. B. Responsibilities of Marketing Manager Marketing manager is the person responsible for overseeing the allocation of resources to marketing activities. Marketing activities are the activities which determine the success or failure of an enterprise. C. Qualifications of Marketing Manager Marketing ma...