TWO - Business Proposal for Economics PDF

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Business Proposal for Economics...

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INTRODUCTION

Rice is one of the most common and preferred staple food and always present in every household in the Philippines. Due to this, rice partnered with different dishes such as tapa, sausage, fried chicken, siomai, and others gradually accumulated. This occurrence was being used by the entrepreneurs to establish businesses and earn money in the fastest way. Evidently, people could use this food business in order to acquire more income since tapsilog is really popular with customers such as employees that receive minimum or higher salary and even students could avail this kind of food.

DESCRIPTION OF CHOSEN BUSINESS Filipinos are very fond of eating fried rice or sinangag as what majority of the people know. Due to this, number of food shops that offer tapsilog suddenly increased. The word tapsilog was formed by combining three words namely: tapa or cured meat, sinangag or fried rice, and itlog or egg. This dish is traditionally served for breakfast. The woman who built the very first food shop that offered tapsilog was Vivian Del Rosario in year 1986. Her original store was named Tapsi ni Vivian at Bulaluhan located around Project 3 in Quezon City which aimed to provide food to anyone without spending too much money. Tapsilugan never goes out of style until the present day due to its availability despite of any kind of weather and occasion that happens in our country. Also, this could

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attract more customers specifically the students due to the affordability and the high and worth it quality it offers to the public. Accessibility and location of this business must also be acknowledged and well-planned since it could greatly affect the daily operation of the business. Having this kind of business could give benefits not just for the customers but it could also satisfy the competitiveness and profit-focused mind of the business owners.

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I.

EFFECTS OF BUSINESS (Tapsilogan) Establishing a business could affect some factors that are included in the society. It could contribute to the growth or development of the society or on the other hand, it could also have negative effects.

A. Consumers 

Influence Consumers Emotionally The role our emptions play when making decisions can’t be ignored. To affect the consumers’ behaviour is to hold their attention. Appeal to people’s sense of curiosity with something that makes them curious and something unexpected. Some of the promotional advertising we can use is vouchers. Vouchers are meant to give your customers one-time discounts. Also, vouchers are one of the effective ways to attract the attention of the customers.

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Encourage Customers to Look for Value To encourage our customers to buy our product, we can influence them to switch to our product by making sure that we would meet their expectations to build a good reputation and relationship with them.

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Offer Social Responsibility We can promote our tapsishop by using economic and environmental materials. We insist that our supplier provide safe

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working conditions. Also, we use environmentally responsible manufacturing processes in the production-making. We will also perform positive action and we will respond positively. Aside from that, our business could also conduct charitable giving activity for less fortunate people within the area in some special occasions. 

Change Behaviour with Excellent Service Change of customer behaviour may occur depending on the quality of service that the business will show to customers. Customers who had bad experience/s regarding the service that the business provided, he/she will more likely no to buy o purchase again. On the other hand, customers who experienced good service and were satisfied with what the business offered will have a higher chance of purchasing again in the business. Due to this kind of situation, we will ensure that the customers will be satisfied with our offers. Being in a restaurant with good ambiance, reasonable price, and good quality of food will be more likely to attract more customers. Different reactions from the customers are inevitable that’s why negative feedback from the customers may occur. If this happens, our business ill immediately perform an action by fixing what they want to be fixed and by giving them freebies. This situation may result in positive responses for our business and may increase our sales over time.

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B. Suppliers Suppliers are very essential in having a business, without them, it may be difficult for an organization to establish and manage a business. Most of the time, businesses acquire suppliers in order to get cheaper materials that could result for a business to sell their products in a cheaper price but are good quality raw materials. Our businesses will make sure to have suppliers that provide materials in a less expensive price but offer good quality materials in order to satisfy our customers’ expectations. Unexpected situations may happen between the transaction of the business and the suppliers. In some instances, suppliers do not meet the delivery on time which causes delay for the production process of the business. If this happens, the business must have alternative way or option to avoid the delay that might happen within the company that it may affect as well as the customers. Also, the business and the supplier must discuss the contract terms as it may help the both parties to solve the issue. Switching to another faster mode of shipment is also one of the solutions that could be use when this situation happens. C. Household 

Household Income The significant differences in perceived utilitarian and hedonic benefits of sales promotion based on consumers’ monthly household income. Some studies found an unexpected outcome that indicates

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those with higher household income appear to use promotional deals more often. 

Taste and Fashion The taste refers to the product that consumers consciously choose over the other. An example: You have a business like tapsilogan and your competitor is a burger shop but your customer chooses a tapsilogan over a burger shop. You will see just how change in consumers’ taste affect food businesses while the fashion area where consumer tastes changes fairly often.

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Taxes and Subsidies Taxes are considered as expenses of the company. Higher cost for taxes decreases the supply of the products due to financial reasons while subsidies occur when the government pays a business directly or decreases the taxes of a firm. Higher tax rate could lower the gain or the profit being worked by the business. Taxes also affect the business because the government help the business to limit its personal liability and legitimize the business.

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Relative Prices Competition among businesses in the market is already part of the industry. That’s why comparison of prices is also needed for the firm to know the possible advantages they should have and focus 6

on. Other businesses offer their products in low prices while others sell it in much higher prices. Due to this, our business will ensure the consistency as well as the quality and price relationship of our products. Also, relative prices help the business to understand how inflation can cause problem to the industry. In an inflationary environment, the prices are rising. Relative prices act as our signal about surpluses or shortage that exist in our business and will guide us in the allocation of our resources.

II.

EFFECTS ON BUSINESS (Tapsilogan) There are lots of factors, whether internal or external, that may affect a certain business. Those factors could influence the trend, behaviour, policies, or even taste and preferences of an individual. In fact, factors have been made precise and were grouped in order to classify those factors properly.

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Income Business may be able to get advantages by giving special offers and promos to customers. “Buy 1 meal and get free iced tea” and by having “student meal” might entice the target customers to purchase your products more than the offers of your competitors.

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

Education This helps business to obtain references such as business plans,

managing

finances,

proper

business

ethics,

and

entrepreneurial strategies that can help in boosting and developing the business. It may also help the entrepreneurs in having the most efficient and effective decisions necessary for the daily operations of the business. 

Occupation Occupation is important in a business as it determines whether an individual has the capability, proficiency, and efficiency in a particular task. His/ her skills should also be matched with his/ her occupation as it could make the job given to him/ her lighter.

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Economic Condition It provides business opportunities for the small businesses to expand. Like tapsishop, business will be more determined to take risks if the economic condition is right and if the economic condition is also aligned with the law.

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Social Environment This may affect the business in terms of the never-ending changes when it comes to the trend rising in the society. Milktea, cellular delivery through “grab”, and etc are considered as some of the trends nowadays. Thus by incorporating these trends in your business, it may help the entrepreneurs gain advantages over the

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competitors. The business could also this as an opportunity for the business to expand and attract more customers in the future. 

Government Each businesses, whether small or large business, have the responsibility to follow the policies and rules being implemented by the government. Payment for taxes, corporate social responsibility, or implementing new policies related to the business are some of the factors that might affect the firm.

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Economic Changes Strong economy impact means that the business must keep pace with the demand in order to increase or uplift their business also. Hiring more employees, adding more offers, and building up the retail space may be needed for the improvement of the business. Surplus or shortage of products may occur due to economic changes.

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Political Changes Changes that might occur in the government system may affect the growth of a business in terms of rebellious act that might exist in the country. This kind of act results as threat for the protection and security of the people once they come out of their houses. Also, changes in administration leads to changes in laws wherein businesses must conduct adjustments for the continuity of their operations.

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Changes in Technology This includes transportation. In some instances, faster and cheaper transportation results to lesser and more affordable raw materials too. The advancement of computer technology could also make your products available to the public and people who own cellular devices.

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SUMMARY Nowadays, most of the Filipinos around us are eating in tapsilogan because it is more affordable compare to other food stalls/ shops which caused you to see every tapsilogan in every corner of the places. This kind of business has a high risk because you need to have a lot of equipment and materials to use and you must ensure that every meal is fresh and tendered. Tapsilogan is considered as a fast growing type of business in the Philippines. In handling the business, there are different circumstances that you will be needing to deal with. Having a tapsilogan has many benefits. It can help the entrepreneurs to earn more. This study could guide existing and aspiring entrepreneurs of food business like tapsilogan. Using the effects given in this study, you will be able to have more knowledge on how you are going to manage the business you want to have.

CONCLUSION Azarcon, Alexander Nicole P. Most of the time, the changes in cultures and everyday necessities in life of a people on a national basis. Most of us Filipino want to eat at tapsilogan wherein they can afford some delicious food and will satisfy their cravings at the same time. That’s why tapsilogan business is a fast and growing type of business. The impact of strong economy, the business will expand and retail space in order for them to sustain their

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business in the future because if economy falter, this can be result most likely to business failure. At this time, we are fond of eating in tapsilugan and it seems to have a bunch of customers because of its sudden booming in business industry. Most of the time, differences in lifestyles will be partly through the social environment differences. Cruz, Erika Jill M. Tapsilog is one of the most popular meal that is favourable by many especially to lower and middle class and students since it provides affordability and good quality food. Due to this, lots of entrepreneurs though of creating a business which offers tapsi log with a twist. It could be promos or discounts. Based on the study that was conducted, it was revealed that occupation must be parallel with the skills that an individual have. Skills contributes much both on the ability of a person and his/ her passion in doing something. On the other hand, government also contributes a lot for they are the ones who are implementing policies in different aspects of the society. Taxes, responsibilities as business owners, and customer satisfaction are included in this factor. Menia, Dane Marielle G. Almost all Filipinos love to eat outside. Most of them prefer eating at a tapsilogan rather than eating at a fancy restaurant because tapsilogan offers different promos that are affordable and student-budget-friendly. It might attract more customers to purchase on them rather than on their competitors. Also, education was revealed to be our assistance in creating a more solid foundation and obtains both knowledge of theory and 12

practical skills to operate a business. In addition, it provides real-world experiences and prepares future entrepreneurs for their lives as grown-up individuals and have the most effective decisions needed for the daily operation of the business. Sombrero, John Melvin T. Technological change can bring about advantage and disadvantage for e-loading business. From the technology can create a new product and service. However, improvements of technology can increase productivity and reduce costs. Advantage of technology they can affect in business because it is easy to order, easy to service, you have a chance to choose the product, cheap price but the disadvantage is having a shifting fee to grab the food but also it is a same price. That’s why they can affect the business. Political changes can affect on the business which is tapsilogan because the change in the government system greatly affect the growth of reloading station. The implementation of laws or rules and regulation that tapsilogan business might encounter, hence, will affect growth of the business. The entrepreneur of business can affect from the government regulation.

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