1

Our company, Sweet Co., is pleased to report its satisfactory performance in its

ten months of operations, which began from its business registration on 2 October

2006, and ended with the dissolution on 6 August 2007.

The company has been a part of the chocolate and sugar confectionery industry

with the product it pioneered, Yemi, a modification of the traditional Filipino

confectionery yema or custard candy. The company managed to give yema a new

image and taste to the Filipino market, presenting Yemi as a chocolate glazed custard

candy. With this image created for the product, Yemi did not only carry confectionery

sophistication but also the company’s pride in conceptualizing various techniques and

methods of enhancing the quality of Filipino delicacies.

As the company continued its operations, different flavors of Yemi were

introduced to the market. Yemi cappuccino was first offered, which has the same

custard candy inside, but coated with a coffee-flavored white chocolate. Another flavor

that was offered to the market was the Yemi choco mint, a custard candy coated with

chocolate mint. Finally, the company offered the Special Yemi, a richer and creamier

version of the traditional yema.

 3

1. Highlights of Performance

As a result of the company’s operations, the actual sales generated were Php

158, 403. This was 12.55% below the projected sales as stated in the business plan

which was Php183,296.

The company produced a total of 30,107 pieces of Yemi, which were sold in

small boxes containing 8 units, medium boxes containing 20 units and large boxes

containing 35 units. The total number of units produced was 11% below the projection

in the business plan which was 33, 832 pieces.

Efforts of the company enabled it to attain a 144.86% return on investment.

However, this was still below the projected ROI of 160.92%.

2. Strategy Evaluation

The evaluation of strategies adopted shall cover the functions of Production,

Marketing, Human Resource, and Finance. Conducting an evaluation of the company’s

performance was necessary to assess it effectiveness in dealing with opportunities and

threats and the strengths and weaknesses of the major business functions.
 4

2.1 PRODUCTION

Strengths

Exhibiting the Learning Curve. The effect of learning curve was evident in terms on how

it boosted the productivity in generating output since the number of production hours

was minimized given the same number of units produced. For instance, the workers

were able to produce the projected output for less than 8 hours of production required

by the Practicum program. Workers became efficient in the production as the time spent

for production was minimized.

Maximizing resources. The department managed to exhibit efficiency and effectiveness

in terms of using their resources, particularly the raw materials. For instance, ¼ kilo of

chocolate has been used for making 2 batches when it was determined that a ¼ kilo

was enough for one batch. Thus, cost was minimized.

Established relationship with the suppliers. The department had developed a fiduciary

relationship with their suppliers by means of the inbound logistics. The practice of

honest canvassing played an important role in order for the department to familiarize

themselves with their possible suppliers. This resulted to a valued relationship which

aided the company to secure production inputs of better quality. Availing of bulk orders

was important to minimize costs. This allowed the company to purchase the needed

materials in time.
 5

Practicing Total Quality Management. The company adopted consistently Total Quality

Management in every part of the production process that requires it. Since the company

is producing an edible product, this would be necessary to ensure the safety and

sanitation it would result to the customers. Also, workers wore proper attire and

uniforms exclusively used for the production.

Weaknesses

Determined suppliers have limited number of supplies. Despite the established

relationship, it was determined that most of our suppliers, which were wholesalers, have

problems in terms of inventory replenishments. The suppliers delay would also result to

delays in the company. That was why the inbound logistics should shift to their second

best option among the suppliers. This was determined during the canvassing conducted

by the inbound logistics

Workers tendency to slack-off was greater. It could not be prevented that workers have

tendencies of slacking-off during the operations since the production process was very

much routinely, which could be exhausting. This could very much affect the quality of

the product produced as well as the cost for production. Therefore, it would be effective

to conduct a job rotation so that workers could not easily get bored in one workstation.

Also, breaks must be properly observed and utilized by every worker. Also, the

production schedule was adjusted in accordance to the other priorities of the workers.
 6

The production was performed twice in a week. Moreover, there were no productions

done during the midterms and the finals week.

Products storage problems. This problem was basically encountered when the company

has been producing in bulks as a preparation for bazaars. The company has a problem

in determining the appropriate location in storing the products. In addition, some of the

products were easily infested by ants, which was a loss for the inventory. That was why

the workers must ensure that the inventories were stored in a well-sealed box, with

enough space to acquire a humid condition in order to prevent accumulation of molds.

In addition, the Production manager conducted a daily inventory check to monitor the

condition of the inventory. Also, the sanitation of the plant site must be observed well

before, during and after the production process.

2.2 MARKETING

Strengths

Sufficient promoting materials and means. The company has acquired various

marketing tools to promote their product. This included the tarpaulins, posters,

brochures that were posted and distributed in bazaars and fairs. In addition, the

company has been utilizing it website in order to promote their product via the Internet.

This means has been very effective because most of the company’s orders, especially

during the peak seasons, were derived from this medium. Also, the company also
 7

posted their product in the E-bay to further promote consumer awareness on their

product. The company also participated in other bazaars beside the Practicum bazaar.

Here, the company was able to enjoy after-bazaar sales.

Revisions on sales forecast were done in a timely basis. Since demand changes

happened unpredictably, the Marketing Manager conducted revisions for previous sales

forecast. This was done in order for the company to limit inventory pile-ups as much as

possible.

Weaknesses

Unsustainable consignments. The company did not rely much with consignments since

most of the determined consignments would not last. This was determined because

they have difficulty in disposing the products. As a support, the company provided

promotional materials like posters and fliers which the consignees could distribute and

post within their commercial vicinity. However, the support was not enough since we

have assessed that the selected consignees were not serious with marketing and

selling the products. That was why the company was concentrating on other options to

sell the product, which were done by means of personal selling, e-selling and joining

bazaars.

Unpredictable demand projections. Demand projection for the product tends to be

varying without the company’s prior notice. Thus, the Marketing department must be

keen and observant regarding the changing trends and thus, must make the necessary
 8

adjustment. Also, the Marketing department must coordinate with the Production

department to determine the target number of outputs that will be produced.

2.3 HUMAN RESOURCE

Strengths

Design new policies directed to achieve productivity, efficiency and effectiveness.

During the operations, the company has observed certain changes, which we failed to

document during the proposal that must be addressed. This would likely include the

possible behavior of the employees. Here, the reward system was improved wherein

the employees were rewarded as positive reinforcements like determination and

perseverance; and punished due undesirable performance like tardiness.

Involvement in social service as corporate responsibility. For such human involvement,

the company has donated old shirts, toys and goods to the victims of the typhoon

Reming in the Bicol region during November and December via the Centre for Social

Concern and Action. Other donations and teacher’s assitance were given in the

Pagmamahal ni Inay Children’s Home in Fairview, Quezon City and in the Kapalaran

Disciple Child Development Center in Payatas, Quezon City. In January, we also

conducted an orphanage visit in the Paco Settlement House in Quirino, Manila.

 9

Also, corporate social responsibility was not only limited in social outreach. The

company also observed proper disposal of their garbage. Used cans for condensed milk

were sold to junkshops. Eggshells were used for plant fertilizers. Egg whites were being

used as ingredients for making other pastries.

Weaknesses

Some delays in distribution of payrolls. During the first month of operation, the company

has experienced a delay in distributing the payroll. This was due to issues regarding the

computation of salaries. The company has conducted a meeting to discuss this issue,

which was settled. Thus, the HR manager was given the responsibility to perform the

said obligation timely.

2.4 FINANCE

Strengths

Sustainable performance as indicated by the financial ratios. Generally, the company’s

financial ratios during their operations have been indicating sustainable performance for

the company. This was possible since proper accounting procedures were maintained

as regards to documenting and monitoring receipts and expenses respectively.

 1

Imposing the “good as sold” policy. By imposing this policy, the company’s sales force

were somehow motivated knowing that there were consequences regarding to paying

for their quotas whether they have sold it or not. Furthermore, the company is able to

limit the expiration of the product due to this policy.

Weaknesses

Untimely turnover of receipts and payment. The company was rather experiencing

untimely turnovers for receipts and payments. This causes delays in terms of recording

inflows and outflows of cash. This was due to difficulty in collecting payments to some of

our buyers. Because delivery was done first before payment, it could not be denied that

some became doubtful accounts. In order to prevent this, the company adopted a policy

that terms of payment must be done on cash basis and upon delivery.

The workers were also given timely notice regarding the turnover of receipts and

payments.

Late cash advances were commonly done. During the summer, production days were

difficult to schedule since no common time was held since some were having summer

classes, summer jobs and vacations. Thus, the company had no choice but to conduct

a morning and afternoon shifts in production. Sometimes, productions were done with

no choice and some officers did some cash advances for the sake of production.
1
 1

1. Production

The production of Yemi by Sweet Co. formally began on 10 October 2007.

During the whole production process, the company made sure that it produced products

of high quality. Furthermore, the company also adhered to high standards of

cleanliness and sanitation, which was strictly monitored by the Production Manager and

supported by all the members of the company.

In addition to financial concerns, the company has decided to produce its

products on its own primarily because of sanitation concerns. In line with this, the

Production Manager required all workers to wear proper uniform, masks, disposable

gloves and hairnets during production. The Production Department also made sure that

the plant site is free from pests that can affect the quality of the product. All these

efforts were made in order to ensure that the consumers are safeguarded and the

product that they purchased are of the highest quality. The Production Department also

canvassed for the lowest priced quality materials. This is to ensure that the Sweet Co.

can offer the product to the consumers at the lowest possible price without

compromising the profit of the company.

The company stated in its business plan that production will start on the month of

September. However, the company was not able to follow the plan due to delays in the

business registration. Because of that, the company had a negative variance for the

month of September. The members of the company realized that forcing to produce the

projected number of units for the month of September on October, since it would mean
 1

selling almost twice the number of units projected in one month. Also, the members

realized that the opportunity to sell for the month of September has already passed, and

forcing to produce for the sake of producing could backfire and lead to loss for the

company.

For the month of October, as seen in Table 2.1, the company used the projected

output from the business plan, and in line with that, the company also adopted the

“good-as-sold” policy to ensure that all members will do their best to sell the product and

there will be no spoilage. Using this strategy, the company was able to produce a total

of 3,129 pieces of Yemi, yielding a positive variance of 873 pieces of Yemi compared to

the projected output of 2,256 pieces.

Table 2.1:
Production Output (September to November)

MONTH PLANNED ACTUAL PERCENTAGE VARIANCE

PRCBMG1 September 1072 0 -100.00% -1072

October 2256 3129 38.70% 873

November 5648 6452 14.24% 804

TOTAL 8976 9581 6.74% 605

Using the same strategy for the month of November, the company was able to

produce 6,452 pieces of Yemi, again yielding a positive variance of 804 pieces (Table

2.1). However, it was during this month that the company saw that the members were
 1

having a hard time meeting their quotas. Because of this, the Production and the

Marketing Department revised the original projected output and came up with a new

projected output that met the changing demands of the market.

As seen in Table 2.2, the company started following the new projected output on

the month of December, wherein the company was able to produce 6,921 pieces of

Yemi and had a positive variance of 2,409 pieces of Yemi. The members of the

company was able to take advantage of the Christmas season, and was able to get bulk

orders from clients who gave Yemi as their Christmas giveaways or gifts. However,

after the Christmas season, demand for the product declined because people had less

money to spend. Because of that, for the month of January, the company was only able

to produce 2,793 pieces of Yemi, and had a negative variance of 1,271 pieces.

For the month of February, the company expected that sales would pick up

because of the upcoming Valentine's season, but continued low demand for the product

proved that, although Yemi is a chocolate product, it is still seen as a native delicacy,

which does not appear to be an ideal gift for the Valentine's season. As a result, the

company was only able to produce 1,810 pieces of Yemi, with a negative variance of

2,870 pieces. With no special occasions and events for the months of April and May,

the company again had negative variances for those two months, producing only 2,040

pieces and 1,760 pieces respectively.

 1

Table 2.2:
Production Output (Adjusted Monthly Demand – December to June)

ADJUSTED
VARIANCE IN
MONTH MONTHLY ACTUAL PERCENTAGE
VARIANCE
DEMAND

PRCBMG1 December 4512 6921 53.39% 2409

PRCBMG2 January 4064 2793 -31.27% -1271

February 4680 1810 -61.32% -2870

March 3744 2714 -27.51% -1030

April 3000 2040 -32.00% -960

PRCBMG3 May 2552 1760 -31.03% -792

June 2304 2488 7.99% 184

TOTAL 24856 20526 -17.42% -4330

For the month June, the company was able to produce 2488 pieces of Yemi,

which was slightly above the projected monthly demand of 2,304 pieces, this resulted to

a positive variance of 184 pieces. However, the fact that the operations of the

company was about to end gave the members a hard time finding new consignors that

would have improved the demand for Yemi.

The management of Sweet Co. has decided that since the company had limited

time, it would concentrate on just one product – Yemi. But realizing that the market

prefers variation, the company decided to create different flavors of Yemi. The company

first introduced Yemi cappuccino, using the same recipe for the sweet custard, but
 1

instead, coating it with white chocolate with cappuccino flavor. The second flavor that

the company introduced to the market was the Yemi choco mint, much like the original

flavor of Yemi, but with a twist. The chocolate has a minty taste similar to mint

chocolates in the market. The last variant that the company introduced to the market is

the Special Yemi, this is the product that is closest to the original yema, it's richer and

creamier, and coated with refined sugar.

In addition to introducing variations, the company also changed its original

packaging, this is to differentiate Yemi from other products, making it more presentable

and appealing to its intended market. The company also offered to the market the Yemi

Mixed, for customers who wants to have both Yemi chocolate and Yemi cappuccino, it

contains 4 of each flavor.

Throughout the business operations, the company strive to adapt to the changing

demands of the market, offering the best quality products created inside the kitchen of

Sweet Co.
 1

2. Marketing and Sales

Sweet Co.’s Marketing Manager monitored the sales performance of the

company, in coordination with the Sales Officer. At the end of every month, upon

submission of the monthly functional reports, the Marketing Department accounted for

the total sales of that month in product units and in Pesos. The sales report was then

forwarded to the Accountant so that the sales figures can be reflected in the company’s

financial statements.

Initially as per business plan, the company chose a target market of mothers and

children with a ages 30 to 45 and 6-12 years of age respectively. The children of such

age bracket would be considered as influencers to the company’s other set of target

market, the mothers which are considered to be decision-makers. In the succeeding

practicum terms, it was agreed upon that the target segment be re-modeled and shifted

the segment to the mothers alone, and those who come from the higher-end of the

economic strata. The new packaging of the Yemi product has therefore evolved to the

figure presented below. This would better grab the target market’s attention and entice

them to purchase the product because of its more sophisticated look.

 1

Figure 2.1: New Yemi Packaging and Logo

The practicum component of the Business Management Entrepreneurship

Program is divided into three academic terms. The actual sales performance report for

each month was compared to the projected sales both in Pesos and in boxes indicated

in the company’s business plan. During the first term of the practicum program, the

company’s projected sales were adopted directly from the company’s business plan.

However, during the succeeding practicum terms, the projected sales were taken from

the revised projections that the Marketing Department came up with during the

PRCBMG2 Assessment and Planning Workshop. Presented in table 2.1 is the

company’s sales performance in Pesos.

 1

Table 2.3:
Sales in Peso

VARIANCE IN
MONTH PLANNED ACTUAL PERCENTAGE VARIANCE
PRCBMG
1 September Php 4,104.00 0 (Php 4,104.00)

October 8,588.00 12,366.25 3,778.25

November 21,470.00 22,230.00 760.00

December 47,158.00 35,105.00 (12,053.00)

Total Php 81,320.00 Php 69,701.00 -14.29% (Php 11,618.75)

PRCBMG
2 January 20,320.00 12,498.00 (7,822.00)

February 23,400.00 17,370.00 (6,030.00)

March 18,720.00 11,498.75 (7,221.25)

April 15,000.00 13,175.00 1,825.00)

Total Php 77,440.00 Php 54,541.75 -29.57% (Php 22,898.25)

PRCBMG
3 May 12,760.00 15,010.00 (2250.00)

June 11,520.00 19,150.00 (7,630.00)

Total 24,280.00 34,160.00 40.69% Php 9,880

TOTAL Php 183,040.00 158,403.00 13.46% (Php 24,637.00)

With the first practicum term of the entrepreneurship program, the projected

sales for the term were adopted from the company’s business plan, except for

December which has been revised because there was an over-projection of sales. With

less time that the school year permitted that ended mid-December, the projected sales

were lessened so as to achieve planned quota. PRCBMG1’s projected sales exceeded

the actual sales by 14.29%. Actual sales did not achieve the projected sales because

the company had just recently started and the target markets were not served optimally

yet.
 2

The second term of the entrepreneurship program did not render better results

despite the longer span of time the practicum term allows operations. A high variance

was reported, wherein the planned sales exceeded actual sales by 29.57%.

PRCBMG2’s negative variance exceeded by almost 50% as compared to PRCBMG1.

However, sales in this term may be attributed to different marketing strategies that the

Marketing Department employed so as to maximize sales. Within this practicum term,

the company joined different bazaars such as the DLSU Practicum Bazaar, St.

Scholastica’s College Foundation Day, Miriam College Bazaar, BF Resort Village

Christmas Bazaar, DLS-CSB Bazaar, and Pasay Sports Complex Bazaar. Moreover, the

company had consigned its products to various establishments such as Mildred’s, and

Celiz Gen Sari Sari Store.

And finally in PRCBMG3, the company has achieved a positive variance, where

actual sales exceeded planned sales by 40.69%. In this practicum term, the company

focused more on personal selling and the same as with some consignments. All in all,

total actual sales off the 3 practicum terms resulted to Php 158,403.00, which was

exceeded by the projected sales of Php183,040.00 by 13.46%

Presented in Table 2.4 is the company’s sales in product units, summarized per

month. The projection of Yemi’s per unit sales for PRCBMG1 are directly adopted from

the business plan, and for the succeeding practicum terms PRCBMG2 and PRCBMG3

were based upon the revised projection of sales done during the Assessment and

Planning Seminar and Workshop held on the 3rd of February 2007. With the original
 2

sales projection, the figures as compared with the actual sales rendered a negative

variance of 2,277 pieces of yemi. Projected sales exceeded actual sales by 46.48%.

Between December and March, high variances between planned and actual sales were

reported. Within this span of time, the company had introduced variations to the original

Yemi flavor by. Therefore, customers may buy Yemi either in chocolate flavor,

cappuccino flavor, or even mixed (chocolate and cappuccino Yemis in one box). During

the latter part of PRCBMG2, the company launched another variation, which is the

Special Yemi. It has expanded its product line as well by offering different sizes of boxes

of Yemi to the market. The different box sizes were small, medium and large. This

allowed the customers to pay less if they buy more. And lastly, throughout PRCBMG3,

the sales of the variations of flavor were reduced to a point that Special Yemi was solely

distributed to the market.

Table 2.4:
Sales in Product Boxes and Units

VARIANCE IN
MONTH PLANNED ACTUAL PERCENTAGE VARIANCE

PRCBMG1 September 1,072 0 (1,072)

October 2,256 2,465 209

November 5,648 4,921 (727)

December 4,512 8,379 3867

Total 13,488 15,765 -46.84% (2,277)

PRCBMG2 January 4,064 1,600 (2,464)

February 4,680 3,041 (1,639)

March 3,744 2,285 (1,459)

 2

April 3,000 2,144 (856)

Total 15,488 9,070 -41.44% (6418)

PRCBMG3 May 2,552 2,200 (352)

June 2,304 3,072 768

Total 4,856 5,272 8.57% 416

TOTAL 33,832 30,107 (3725)

Beginning January 2007, the company revamped its packaging design to a much

more sophisticated look, shifting its target segment to a higher end market to increase

sales. Consequently, there had to be price adjustments on the product and sales had to

do away with the medium and large boxes. Therefore, the Yemi box of eight pieces

became the standard size, but with the price still depending on the flavor.

At the beginning of the practicum program, Yemi was priced depending on

the size of the box, depending as well to the flavor. Subsequently, changes in the Yemi

box packaging had retaliated to changes in prices relative to the variations opted by the

consumer. Presented in table 2.3 is a list of prices of the different variations of Yemi,

with respect to product specifications.

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Table 2.5:
Yemi Prices

Product Specification/
Variation Price
Yemi Chocolate (per piece) Php 5.00

Yemi Cappuccino (per piece) 6.25

Yemi Choco Small (6 pieces) 40.00

Yemi Choco Medium (20 pieces) 80.00

Yemi Choco Large (35 pieces) 120.00

Yemi Cappuccino Small (6 pieces) 45.00

Yemi Cappuccino Medium (20 pieces) 85.00

Yemi Cappuccino Large (35 pieces) 125.00

Yemi Mixed Small (6 pieces) 50.00

Yemi Mixed Medium (20 pieces) 90.00

Yemi Mixed Large (35 pieces) 130.00

Yemi Mint 60.00

Yemi Choco *new box 45.00

Yemi Cappucino *new box 50.00

Yemi Mixed *new box 55.00

Special Yemi *new box 50.00

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3. Finance

3.1 SALES

The sales for the entire practicum totaled Php 158,403.00 while the planned

sales that ought to be materialized was Php 183,040.00 This amount was from the

revised projected sales which came from the revisions in the sales projected by the

marketing department. The actual sales of the company consist of credit sales of the

company which are receivables of the company from customers. The actual sales was

not that far from the planned sales of the company, there was only a difference of Php

24, 637.00.

Figure 2.2 shows that the there was only a slight difference in the actual and

planned sales in PRCBMG1 where sales did well especially around the holidays due to

the demand for the product where most of the sales came from orders from customers .

The actual sales was lower than the projected sales because the September sales was

projected but there were no sales made for the month because of the delay in the

registration of the business as was set by the Business Management Department. The

planned sales in this period was Php 81,320.00 and the actual sales was Php

69,701.25.
 2

Figure 2.2: Sales in Pesos

SALES IN PESOS

90,000.00 81,320.00
77,440.00
80,000.00 69,701.25
Amount in Pesos

70,000.00
60,000.00 54,541.75
50,000.00 planned
40,000.00 34,160.00 actual
30,000.00 24,280.00
20,000.00
10,000.00
0.00
PRCBMG1 PRCBMG2 PRCBMG3
Period

The big difference came about in PRCBMG2 due to the decrease in the

demand for the product and the policy for the sales force; the ‘Good as Sold” policy was

removed during the month of January resulting to the lag in effort to sell by the sales

force of the company however the policy was returned in the month of February to

increase the lagging sales of the company. The bazaars that the company participated

in did not generate enough sales to meet the planned target for PRCBMG2. The

planned sales was Php 77,440.00 while the actual was Php 54,541.75.

However in PRCBMG3, the actual sales exceeded the planned sales for the

company. The revised projected sales made by the Marketing Manager was Php

24,280.00 and the actual sales was Php 34,160.00.

 2

Sweet Co. was able to sell a total of 30,107 pieces of Yemi beginning from its

operations in October until the end of its operations in June. This consisted of Yemi sold

in different varieties like chocolate-coated, cappuccino-coated, mint flavored, and the

special variety of Yemi during the entire ten month operation of the company. The

company projected that it would sell 33,832 pieces of Yemi.

In PRCBMG1, the company was able to sell a total of 15, 765 pieces of Yemi.

The planned sales for this term was 13,488 pieces of Yemi because during the product

testing the market responded positively and that the consumption of the consumers was

high but the outcome was greater than the projected sales for this period. The demand

for the product was high due to the holiday season where the product was ordered by

customers to be given to their relatives and friends as gifts for Christmas. The sales

peaked and reached its highest during the month of December due to the increase in

the demand for the product. Also there were several bazaars that the company joined in

which helped improved the sales of the company and make the product known to the

market.

In PRCBMG2, the actual sales totaled 9,070 pieces of Yemi. There had been

bazaars that the company participated in but they did not contribute much to the

period’s revenue of the company. Most of the sales and revenue generated in this

period was from direct selling done by the company’s sales force. The projected sales

for PRCBMG2 was 15, 488 pieces of Yemi based on the revised projections made by

the Marketing Department of the company.

 2

In PRCBMG3, the actual sales of the company was 5,272 pieces compared to

the 4,856 pieces of projected sales. In this period, the actual sales was higher than the

projected sales and this was due to the lowered projections and a slight increase in the

demand for the special variety of Yemi. There were no bazaars that the company

participated in in this period. Figure 2.3 summarizes the sales of the company in pieces.

Figure 2.3: Sales in Units

SALES IN UNITS

18000 15765 15488

16000
13488
Amount in Pesos

14000
12000
10000 9070 Planned
8000 Actual
6000 4856 5272
4000
2000
0
PRCBMG1 PRCBMG2 PRCBMG3
Period

3.2 NET INCOME

The net income for the entire practicum program of the company was Php

52,148.50 and the planned income to be made by the company was Php 58,246.39.

The actual net income was lower than the projected net income for the entire period

due to the values that are still reflected for the month of July which are not to be
 2

included anymore because business operations would end on June. Figure 2.3 shows

the net income for the entire duration of the practicum program. It shows the variance in

the projected amount of the net income with the actual amount generated from the sales

of the company.

Figure 2.4: Net Income

NET INCOME

40,000.00
34,056.70
35,000.00
25,135.95
Amount in Pesos

30,000.00
25,000.00 20,112.43 planned
20,000.00 15,759.74
actual
15,000.00 11,252.81
10,000.00
4,077.26
5,000.00
0.00
PRCBMG1 PRCBMG2 PRCBMG3
Period

In PRCBMG1, there was a visible difference in the actual and planned net

income because the cost of goods sold for this period was higher due to the high level

of production and units to be produced. The company incurred a lot of expenses during

the first month of operation due to the amount of inventory and raw materials to be

bought The actual net income for PRCBMG1 was Php 11,252.81 and the planned for

this period was Php 34,056.70 as seen in Figure 2.4. A reason for the higher amount of

the projected income is the high projection of sales reflected in the business plan of the
 2

company where the projected sales of the company went up as high as Php 40,000 so

the net income would also be higher for this period.

In PRCBMG2, the actual net income was Php 25,135.95 and the planned net

income was Php 20,112.43. This was because of the lesser expenses incurred and the

increase in revenues. The projected net income for this period came from the revised

projected sales projected by the Marketing Manager. The bazaars that were participated

by the company contributed to the net income for this period and the direct selling also

generated higher sales resulting to higher income for the company.

For PRCBMG3, the actual net income was Php 15,759.74 and the revised

projected income was only Php 4,077.26. In this period, the actual net income exceeded

the projected net income because of the decrease in the cost of raw materials to be

used in production and the slight increase in the sales of the special variety of the

product.

3.3 TOTAL ASSETS

Figure 2.5 shows the total assets at the end of the practicum period was Php

88,148.58 as compared to the projected total assets which was Php 95,802.37. The

total assets wouldn’t mean anything if one would just look at this way but they would be

meaningful if one could compare it to the sales that was generated from the operations

of the entire practicum program because this will show on how efficiently and effectively
 3

the assets of the company were put into use to generate the sales for the company. The

actual total assets of the company was lower than that of the projected total assets but

comparing this to the sales generated during the entire practicum program the assets

were used efficiently to generate a significant amount of sales and revenue for the

company.

Figure 2.5: Total Assets

TOTAL ASSETS

120,000.00
95,802.37
100,000.00 90,669.12 88,148.58
Amount in Pesos

75,428.15
80,000.00 70,556.70
52,868.18 planned
60,000.00
actual
40,000.00

20,000.00

0.00
PRCBMG1 PRCBMG2 PRCBMG3
Period

In PRCBMG1, the projected total assets and the actual total assets were Php

70, 556.70 and Php 52, 868.18 respectively. The actual amount in this period was due

to the turnovers by the sales force from the revenue generated by the company.

For PRCBMG2 and PRCBMG3, the actual total assets were less than the

revised projected amounts due to the revision in the sales of the company which

resulted to higher inflow of cash from revenues generated from sales in PRCBMG1 that
 3

continued to PRCBMG2 and PRCBMG3. The projected amount of total assets for

PRCBMG2 and PRCBMG3 were Php 90,669.12 and Php 95,802.37 respectively while

the actual amounts were Php 75,428.15 and Php 88,148.58 respectively.

3.4 CASH

The cash balance shown in Figure 2.6, at the end of PRCBMG1 was Php

48,146.66 compared to the projected amount of Php 68,674.99. The variance in the

amounts was due to the high projection in the sales in the first month of the practicum

program which translated to higher income meaning there would be a higher inflow of

cash for the company. Because it was the start-up period of the company, there was an

outflow of cash for procurement of raw materials and advertising materials needed for

the operations of the company but the revenues made up for the outflow of cash so the

cash flow of the company was healthy in that period. For PRCBMG2, the actual cash

balance amounted to Php 63,745.27 compared to the Php 89, 425.02 projected. The

projected cash balance was higher still because of the revised projections in the

business plan that was made by the Marketing Manager but the high amount of cash

balance in PRCBMG1 continued until PRCBMG2 and PRCBMG3 so the projected cash

balances at the end of these periods would also be high than the actual amounts.

During PRCBMG3, the actual cash balance of the company was Php 83,105.77

compared with the Php 94,960.49. There was a greater amount of revenue for this

period which helped increase the cash balance of the company for this period.
 3

Figure 2.5: Cash

CASH

100,000.00 94960.49156
89425.01876
83,105.77
80,000.00
Amount in Pesos

68,674.99
63,745.27
60,000.00 48,146.66 planned
40,000.00 actual

20,000.00

0.00
PRCBMG1 PRCBMG2 PRCBMG3
Period

3.5 STOCKHOLDER’S EQUITY

The Stockholder’s Equity for PRCBMG1 was Php 47,252.80 compared with the

projected Php 70,556.70. The difference in the amount was due to the net income

generated from this period as compared with the planned net income as stated in the

business plan; there was a higher net income for PRCBMG1 as stated in the business

plan because of the high projection of the sales of the company. For PRCBMG2, the

actual stockholder’s equity was Php 72,388.75 and the planned amount was Php

90,669.12. The actual amount was lower than the projected amount due to the higher

projected net income from the previous period which resulted from the higher amount of

projected sales which affected the equity amount. In PRCBMG3, it was also the same

case because of the actual net income was lower than the projected amount. The actual
 3

stockholder’s equity for PRCBMG3 was Php 88,148.58 and the projected stockholder’s

equity for the period was Php 95,802.37. The stockholder’s equity for the entire

practicum can be seen in Figure 2.7.

Figure 2.7: Stockholders' Equity

STOCKHOLDERS' EQUITY

120,000.00
95,802.37
100,000.00 90,669.12 88148.48
Amount in Pesos

80,000.00 70,556.70 72,388.75

planned
60,000.00 47,252.80
actual
40,000.00
20,000.00

0.00
PRCBMG1 PRCBMG2 PRCBMG3
Period

3.6 FINANCIAL RATIOS

Liquidity Ratios

Liquidity ratios were not applicable to the company because it did not incur any

liabilities during the entire business operations in its ten months of existence.
 3

Profitability Ratios

The actual gross profit margin was higher than that projected from the revised

sales made by the Marketing Manager. The projected gross profit margin was 52.48%

and the actual gross profit of the company was 50.14%. This ratio measures the

percentage of peso remaining after all the goods had been paid for. It indicates if the

firm has enough money to pay for the remaining expenses of the company (Principles

of Managerial Finance, Gittman, 2003). The higher the gross profit margin, the better

because it can still cover some of the expenses incurred by the company. In the case of

Sweet Co. the actual gross profit margin was slightly lower but nevertheless the

company is still in a good financial position.

Actual net profit margin was 32.92% as compared to the projected 32.63%. This

is the amount which indicates the money remaining after all the costs, expenses, taxes

and interests (Principles of Managerial Finance, Gittman, 2003). It was good that the

company was able to come up with a slightly higher net profit margin even if there was a

high projection in the sales of the company in PRCBMG1.

Sweet Co. revised the sales projection and lowered it compared to the original

projections as stated in the business plan. The revised projected return on investment

was 160.92% while the actual return on investment generated from the whole

operations of the company was 144.86%. This is very good because the company was

not only able to recover its start up costs and its original investment rather it was able to

exceed the amount of initial investment and it was able to generate this percentage of
 3

return on investment which is a little lower but nevertheless a good return on investment

for the company.

Asset Management Ratios

Actual total asset turnover amounted to 1.80 as compared to the 1.85 projected

total asset turnover. The company almost achieved the projected total asset turnover

but the variance was not that big and this means that the company utilized its assets

efficiently. Raw materials Inventory turnover of the company for the entire practicum

program was 3.10 times and this indicated the degree on how fast the raw materials

were converted into finished goods; there was no raw materials inventory turnover in the

plan of the company as stated in the business plan because it was assumed then that

no raw materials would be left because all that would be bought would be used.
 3

Table 2.6:
Financial Ratios

RATIOS PLAN ACTUAL

LIQUIDITY

Current Ratio N/A N/A

Quick Ratio N/A N/A

PROFITABILITY

Gross Profit Margin 52.48% 50.14%

Net Profit Margin 32.63% 32.92%

Return on Investment (ROI) 160.92% 144.86%

ASSET MANAGEMENT RATIOS

Inventory Turnover (raw materials) N/A 3.10 times

Days Inventory N/A N/A

Total Assets Turnover 1.85 times 1.80 times

 3

4. Human Resource Policies

The positions of the members of the company remained the same during the ten

months of business operation. The rationale for not changing the positions of the

members of the company is to deepen the expertise of each member in their assigned

roles. Continuity of previous work allowed comparison of earlier performance with

present performance of employees. This allowed employees to suggest improvements

on their fields based on their assessment.

Since Sweet Co. had to produce on school days, Tuesdays and Thursdays,

instead of Saturdays, the company had to deal with the differences in class schedule of

each worker. The company considered the different dismissal time of workers and

decided that each worker needed to have different call times depending on their class

schedule. As a result of this, the company had difficulty in determining who were to be

considered late. In order to resolve this problem, the company decided to implement a

new policy in the production attendance that assisted the company to identify workers

who had arrived beyond their call time and the 5 minutes grace period. Sweet Co.

decided to penalize workers who demonstrated tardiness in order to deter repetition of

such work attitude. The implementation of a new policy in the production attendance

was necessary to ensure a better work attitude and performance among employees.

Further, this new policy encourages workers to wear complete uniform prescribed by the

company – hairnet, mask, gloves, and apron. This policy involved the following:
 3

Figure 2.8: Attendance policies.

• Call will be different for each worker, depending on the class schedule of the

worker. Call time will be announced and determined by the Production

Manager and relayed to the workers at least the day before.

• Each worker is given 5 minutes grace period after the call time which can be

used to rest, prepare or eat.

• Those who come after their call time, but does not exceed 15 minutes will be

penalized (Php10/hr) but will not accumulate as absent.

• Those who come after their call time, and exceeds 15 minutes will be penalized

(Php10/hr) and will accumulate as absent (4 late = 1 absent).

• Corresponding penalty will also be made for incomplete uniform, the complete

uniform as determined by the Production Department is: hairnet, mask, and

gloves. For every prescribed uniform that the worker fails to wear, they will be

penalized (P10/uniform). Workers are also encouraged to wear apron.

Sweet Co. policies on payroll involve distribution of monthly payroll by the end of

each month during its ten month of operation. The Human Resource Manager had

made certain deduction, due to penalties in violating certain policies, on the salaries of

workers instead of collecting penalties every production days. This allowed the Human

Resource Manager to focus on the attendance and in the log-in and log-out time of each

worker. Further, Human Resource Manager kept a record of payroll reports, collected

fines, and deduction from salaries of workers with their signature.

3
 4

1. Production

Learning Curve. During the ten months of operations of Sweet Co., the company has

seen the effects of learning curve particularly in the production process. Throughout the

operations the company saw how there was an improvement in the number of units

produced in relation to the number of production hours. As the months progressed, the

Production Department saw that the workers were gaining expertise which resulted to

higher production output for the same or even lower number of production hour. In

addition to this, the quality of the product also improved. With this, the Production

Department saw the advantage of investing in the training of workers in order to

improve their skills, because this will later on translate to lower costs for the company

since workers will be more efficient.

Economies of Scale. The Production Department saw that increase in units produced

translates to decrease in cost per unit, this is because fixed costs are divided among

more units. With this, the department decreased the number of production days per

month, but in order to accommodate the projected demand for each month, it instead

increased the number of units produced for each production day, this resulted in lower

salary cost for the company and lower transportation cost for the workers. Also, the

Production Department purchased raw materials in bulk in order to avail of the bulk

discount and also to minimize the transportation cost of the company.

 4

Research and Development. Another significant learning that the Production

Department gained is the importance of continuous research and development to

improve the product of the company and the production process itself. The Production

Department continuously researched on ways to improve Yemi by looking for other

recipes of making yema, experimenting and getting advice from experts in the industry.

The department also visited different stores and restaurants that offered similar

products, to gain new ideas to improve Yemi and to further meet the demands and

needs of the market. The Production Department also found ways to improve the

production process to make it more efficient. For instance, the Production Manager

provided big containers where the cooked yema will be placed, the wide space made it

possible for the yema to cool faster, therefore reducing bottleneck in the production

process. Also, before the start of every production, the Production Manager made sure

that all the materials and equipment are ready, and activities that required more time,

such as separating of the egg yolk from the egg white and opening of the canned

condensed milk, are done in advance. And while some workers are waiting for their turn

in the production, they are tasked to fold the boxes, separate the pastry cups and wash

the used utensils. These are some of the improvements made by the department to

make the production process more efficient.

 4

2. Marketing and Sales

In every business venture, a great part of the profit and sales may be attributed

to the Marketing aspect of the business. This functional department determines the

product, its specifications, and how such a product would have an edge over other

products in the market. The product’s price is carefully scrutinized, depending on the

target market’s tolerance and most especially, how the product would reach the target

market segments in accordance to the Marketing strategies that the company will

employ. Of course, all of this would be possible by making use of a careful and proper

market research such as industry studies, surveys, focus group discussions, product

testing and interviews. In this manner, the strengths, weaknesses, opportunities and

threats that the product may have will be put into analysis so that the marketing area

would be able to develop a strategy accordingly.

However, despite all these phases that the Marketing Department must go

through, there should be a subsequent assessment of the product and the marketing

strategies of the company, depending on the sales performance that are reported. Every

detail of the product should be apt to the needs and wants of the target market

segments. This would include the packaging and advertising tools that will be utilized in

goal of enticing the target market and grabbing their attention to purchase the product.
 4

3. Finance

There had been several occasions wherein the members had their own

perception of what to do in certain situations but these differences concerning the point

of view of the members became the strength of the company. Because of this, different

opinions came up on how to effectively run the company and be successful in it. The

importance of every member of the company is essential because a member is a part of

the whole system that is needed to function properly.

Not to easily trust people and be comfortable with them. One of the learnings for

the finance department is not to easily trust people especially when one is just starting

his own business. Customers should not be easily trusted and that even if they have

been regularly buying from you does not mean that they can be trusted because they

could just be fooling you to getting your trust and later on they will just ignore your calls

when it is time for them to pay. In giving goods to customers, there should always be a

down payment to be made beforehand to make sure that payment is to be made and to

avoid the chances of being double crossed by people. In cases where the customer is

far from your office and wants the goods to be shipped to him, a starting company

should first make sure that the person making the order is credible and the payment

should be made first via deposits in the bank before sending the goods to his

destination; the payment for the shipment of the goods should be discussed first if the

customer would be paying the company for the shipment of if they are to be picked up

from the plant site office. Account receivables should be collected promptly from
 4

customers with outstanding balances because one could never know if they are to be

bad debts so it is better to just be sure and collect them promptly.

Documents and other important files should be properly kept and updated

regularly. Documents like receipts, cash vouchers, journal vouchers should be updated

properly and prepared as soon as the transactions are made to avoid forgetting to

record them properly. Also, receipts should be kept properly and organized to avoid

misplacing them and recording understated transactions for expenses. Being ethical

and professional in business dealings should be maintained at all times. Also, being

organized and meticulous in analyzing financial statements and carefully looking into

accounts to see variances and doubtful transactions.

Budgeting. Budgeting was one of the things the members of the company

learned; expenses were unavoidable in business so in order to operate profitably,

expenses should be minimized at all times without sacrificing the quality and the

exposure of the product to be sold. Those that would give the company competitive

advantage would be prioritized; as an example, not all bazaars recommended by the

marketing department should be approved and given the budget rather they should be

evaluated first if there is enough traffic in the area where the product could be exposed

to the right target market, the break-even needed for that particular bazaar, the

projected expenses such as advertising fees should be submitted by the marketing

department to be included in determining the break even for that particular bazaar.
 4

Having a harmonious relationship with the other members of the group. Working

together with the others helped the company operate properly into achieving its goal;

learning to handle differences and making the most out of these differences made the

company successful.

4. Human Resource

“It takes teamwork to make a dream work’’. Teamwork is vital to the success of

the company. Employees from different departments need to cooperate with each other

to achieve the goals of the company. A failure of one department means the failure of

the whole company. When the Human Resource Manager performs her job, such as

motivating the workers, the employees, including the workers in the Production

Department, would be able to produce the required output. Meanwhile, Marketing

Department would be able to sell the product to the consumers. This sequence of

events allowed the finance department to make profit from the products sold. It may

sound simple but applying and maintaining this work attitude in the company was a

challenge.

Furthermore, it was necessary to identify the workers who were not performing

what was expected from them in the company and to encourage them to fine-tune their

work to improve the performance of the business. When the workers did not perform

what was expected from them, the company made sure that the given task will be

accomplished by continuously reminding workers of their roles.

 4

Motivate workers to perform better. The company utilized two forms of

motivation, positive reinforcement and negative reinforcement, to encourage workers to

perform their assigned tasks. Positive reinforcement was applied by rewarding the

worker who demonstrated exceptional performance. Penalties were given as a

consequence of poor performance. Workers performed their tasks because there would

be undesirable outcome if the assigned tasks were not completed. Workers brought

their complete uniform and they arrived on time because of the penalties that they might

incur as a consequence of being late and not following the policies.

Strict Implementation of policies. Each worker was expected to follow the

policies that the company had instituted to accomplish tasks more efficiently. The

Human Resource Manager should not disregard small things, such as, rules in uniform

because it could affect the quality of the product. Attendance policies should also be

taken seriously because absences and tardiness causes delay thus, increasing

overtime expenses and affecting productivity of the whole company.

Participation and delegation allowed the company to make better decisions. The

Human Resource Manager could make better decisions by involving the workers in the

decision making process. The management sought the help of other workers in making

policies that were necessary to ensure a better work attitude and performance among

employees. It was also necessary to delegate certain tasks to workers to build

teamwork. The management delegated certain tasks in some of the Corporate Social

Responsibility of the company. This allowed the company to perform tasks efficiently.
4
 4

1. Production

Total Quality Management. One of the top priority of Sweet Co. is the safety of its

customers, in line with this, the department implemented a strict food handling and

sanitation standards to ensure the quality of every batch of Yemi produced. With this,

the Production Manager strictly monitored the production process and required workers

to wear proper uniform which includes hairnet, clean apron, mask and disposable

gloves. In addition, the Production Department also monitored the utensils and

equipments used, making sure that it is properly sanitized before and after production.

The Production Manager also made sure that the plant site is clean and free from pests.

Since raw materials are the primary components used in making Yemi, the

Production Department made sure that the raw materials used are of good quality. The

Production Manager ensured that materials used are not yet expired, and is stored

properly to preserve its quality. Other highly perishable ingredients such as eggs, were

purchased on the day of the production to ensure freshness.

Canvassing of low-priced quality raw materials. The company wishes to deliver Yemi to

its customers at the lowest possible cost, with this in mind, the Production Department

canvassed for the lowest high quality raw materials in the market. Intensive research

was done in order to find suppliers of the raw materials. In addition to its current

supplier, the Production Department also made sure that it had back-up contacts of

other possible suppliers, to ensure that there will be continuous supply of raw materials.
 4

Inventory Management. The Production Department of Sweet Co. properly managed its

raw materials and finished goods. For the raw materials, the Production Manager made

sure that purchases and usage of raw materials were properly recorded, this was to

ensure that the inflow and outflow of raw materials were properly accounted for.

Likewise, the Purchasing Manager accurately recorded details of purchases made,

which includes the units purchased, unit price, total price and the materials purchased.

At the end of each production, the Production Manager makes a computation of the

production cost for the day by computing the total amount of raw materials used which

was later on submitted to the Finance Department.

Also part of the inventory management was to make sure that the raw materials

were stored properly. This meant that the raw materials were stored in places where its

quality will be preserved. The Production Manager also regularly checked the inventory

level and projected when orders and purchases will be made, this is to make sure that

there is enough materials for each production.

2. Marketing and Sales

Sales Database. A sales database in Microsoft Excel Spreadsheet form was developed

by the Marketing Manager so as to tally records with the other Departments of the

company. From this database, a monthly account of sales in pesos and in boxes would
 5

be generated and recorded for future purposes. The sales reports will be forwarded to

the Finance Manager to utilize them in the Company’s Financial statements.

Customer Profile Database. Each Sales Officer of the company was given a Customer

Profile Form where they would record psychographic information about the customer.

This information would include the customer’s name, address, gender, age, occupation

and contact numbers so as to give a reference information for the marketing manager

should their be concerns or complaints raised by the customers. This would determine

as well if the company was able to cater well to their target segments.

Company Website. A company website was as well developed by the Marketing

Department. This would enable the functional area to accommodate purchase orders

from distant places and be able to communicate agreements of terms of delivery and

sales. Through this technological advantage, the company was able to showcase the

products and the activities of the people working behind Sweet Corporation. This was

made possible by the online photo albums, slideshows and multimedia features that the

domain server has to offer.

Registration of Product in E-Bay Philippines. As a part of the Marketing Department's

strategy, the company registered its product in E-bay Philippines to utilize it as an

avenue for distribution since there are possible markets outside Metro Manila and the

country itself. It advertises the product since it's web-based and anyone may basically

see it on-line whenever they browse through the products offered at E-bay.
 5

Bazaars and Consignments. The company participated in quite a number of bazaars

especially during it's projected peak season. This permitted the company to maximize

sales by showcasing the product to the people that visited the bazaars. This allowed the

company to establish a good relationship with the customers since theirs a direct

contact between the two.

3. Finance

Maintaining proper accounting. Maintaining proper accounting was one of the best

practices that the Finance Department performed. Proper accounting included keeping

the receipts from the transactions within and outside of the company, keeping track of

expenses monitored by the company treasurer and revenues recorded by the company

cashier.

Good as Sold Policy. The company also adopted the “good as sold” policy wherein the

output would be distributed to the sales force and then the cashier would collect the

turnover of money from the sales force generated from the sale of the product whether

sold or not as of the day of the turnover. This was done in order to force the sales force

to sell and avoid the expiration of the product without being sold because this would

mean that the company would be shouldering the cost of the expired product. This

policy somehow helped in the generation of revenues for the company.

 5

Department Meetings. The Finance Department maintained harmonious relationships

between the head and its subordinates so as to ensure productivity and efficacy within

the department. Such practice merited positive results.

5. Human Resources

Proper Implementation of Policies. The proper implementation of a new policy in the

production attendance is one of the best practices adopted by this firm in the area of

Human Resource. The company was able to monitor the attendance of each worker

properly by this new policy. Penalties were also given to workers who violated the

policy in order to deter repetition of such work attitude. Further, workers who did not

wear complete uniform on production days were penalized.

Employee Motivation. The company incorporated both positive and negative

reinforcement in encouraging its workers to perform their tasks. Positive reinforcement

is a response which includes optimism about the assigned tasks. The workers were

motivated to perform the task because of the reward that they might get when they

demonstrate exceptional performance. A reward amounting to P150 was handed to the

best worker, Anne Madelaine Acantilado. Negative reinforcement involves undertaking

task because of undesirable results. An example of this is being penalized for not

following the policies implemented by the company. The company penalized the

workers who were late during production days. Further, fines were collected from
 5

workers who did not wear complete uniform on production days. Deductions are made

from the salaries of workers who violated the rules and policies of the company.

Systematic Process in Payroll Distribution. Instead of collecting fines from workers who

violated the policies implemented by the company, the Human Resource Manager

decided to deduct certain penalties in the salaries of workers. This allowed the Human

Resource Manager to focus on the attendance and in the log-in and log-out time of each

worker. The Human Resource Manager kept a record of their distributed payroll and

deduction in their salaries with their signatures.

Personal Development. The management encouraged workers to attend seminars and

workshops for personal development. The workers gathered information from these

seminars and talks that help the company achieved the goals of the company. These

seminars and talks gave the company some tips on how to manage the business.
5
 5

Sweet Co. had demonstrated commitment in helping people in the ten-month

operation of company. It had engaged in business that not only create value to

members but also gave help and assistance to different institutions that are dedicated in

helping people, especially the children and youth.

1. Gawad Kalinga: Rebuild Bicol. Beyond Relief

Description: Donations were given by Sweet Co. to the victims of typhoon

Reming.

Community Involvement: Yes

Date Conducted: December 19, 2006

Time: 3:00 pm

Venue: De La Salle University - Manila

The typhoon Reming has brought disaster and took hundreds of lives in Bicol

Region. Some survived but the damage is overwhelming that it left people homeless.

Survivors of this tragedy were left no food, water, and clothes. They desperately

needed help.

Having heard the news regarding this terrifying tragedy in Bicol Region, the

Sweet Co. decided to help these victims. On December 19, 2006, the company

donated clothes to the victims of this typhoon through the Gawad Kalinga of the De La

Salle University. Also the company included toys in the donation hoping that it would

somehow ease the grief and pain that the children were feeling. The company sincerely
 5

hopes and prays that the people who have survived this typhoon Reming in Bicol

Region would overcome this tragedy.

Figure 5.1: Sweet Co. preparing donations for Gawad Kalinga

Figure 5.2: Delivering the donations at COSCA office

 5

2. Social Work at Paco Settlement House

Description: This socially responsible activity consists of storytelling, fun

and games, and giving of donations to the orphaned children in Paco

Settlement House.

Community Involvement: Yes

Date Conducted: January 20, 2007

Time: 8:00 am – 11:00 am

Venue: 1451 President Quirino Avenue, Paco, Manila

Last, January 20, 2007, Sweet Co. members visited the Paco Settlement House

in 1451 President Quirino Ave. Paco, Manila to donate some toys, old clothes, story

books and textbooks to the orphaned children. Each member felt the warm welcome of

these children when the members arrived in the area. The company prepared activities

to these children such as storytelling and games where they have actively participated.

Also, prizes where given to those children who answered correctly the questions raised

by the storytellers and to those children who won in the games. Furthermore, the

company prepared snacks for them. During the activity, the members of Sweet Co.

interacted with and get to know these children. The activity can be considered a

success; members of Sweet Co. imparted some knowledge and acted as the new

“kuya”/brothers and “ate”/sisters of these children. In return, the children rendered a

song and a dance number for the members and unexpectedly these children prayed for

the members. It is such a joy for Sweet Co. to help and give happiness to these

children. The company prays that these children will value the knowledge and values

shared to them and that they may grow to be good people.

 5

Figure 5.3: Fun activities with the kids

Figure 5.4: Sweet Co. with the children from Paco Settlement House

Figure 5.5: Sweet Co. with the Assistant Coordinator

 5

3. Social work at Pagmamahal ni Inay Children’s Home

Description: A representative of Sweet Co. visited an orphanage to donate

some clothes and toys to the orphaned children.

Community Involvement: Yes

Date Conducted: February 24, 2007

Time: 11:00 am

Venue: #7 Fortune St., East Fairview, Q.C.

For the month of February, Sweet Co. representative, Sherylle Anne Orozco,

visited an orphanage (Pagmamahal ni Inay Children’s Home) in #7 Fortune St., East

Fairview, Q.C. to donate some toys and old clothes to the orphaned children. The

company felt the need of donating some clothes and toys for these children because

they lack clothes and toys as seen by one member of the company during her previous

visit. Some kids in the orphanage use the same clothes often because they have no

other clothes to wear. Since the orphanage is not usually visited or seen by many

people because of its location, the company decided to help this orphanage.

It is such a joy for Sweet Co. to help and give happiness to these children. The

company wishes that these children will value the things given to them and that they

may use them properly.

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Figure 5.6: Anne Orozco with the Head Coordinator

Figure 5.7: Logging the donation for the children

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4. Early Childhood Care and Development Program of Open Heart Foundation

Worldwide Incorporated.

Description: A representative of Sweet Co. visited a funded school of Open

Heart Foundation to render some assistance to the teacher.

Community Involvement: Yes

Date Conducted: June 13, 2007

Time: 8:00 am – 12:00 noon

Venue: Kapalaran Disciple Child Development Center, Brgy. Kapalaran,

Payatas, Q.C.

On June 13, 2007, a representative of Sweet Co., Sherylle Anne E. Orozco,

volunteered in Open Heart Foundation located in East Fairview, Q.C. This foundation is

dedicated to the empowerment of children and youth. In line with this, the said

representative was assigned in one of the schools, Kapalaran Disciple Child

Development Center, located near the center and supported by this foundation through

Early Childhood Care and Development. An activity was prepared for the children to

help them in their education. Photocopied drawings were distributed to the children to

be colored. This activity taught them to distinguish different colors since they have to

color the drawings with the selected colors given to them. The eagerness of the

children to participate in the activity was evident in their faces and attitudes. Often

times, the children ask questions to the teacher (Ms. Fragielyn Z. Aquisap) and to Ms.

Orozco to check if their work is correct. Furthermore, Ms. Orozco, assisted the teacher

in other school activities.

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Figure 5.8: Open Heart Foundation Worldwide, Inc.

Figure 5.9: Students of Kapalaran Disciple Child Development Center

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5. Early Childhood Care and Development Program of Open Heart Foundation

Worldwide Incorporated.

Description: A representative of Sweet Co. renders some assistance to the

teacher of Kapalaran Disciple Child Development Center.

Community Involvement: Yes

Date Conducted: June 20, 2007

Time: 8:30 am – 10:00 am

Venue: Kapalaran Disciple Child Development Center, Brgy. Kapalaran,

Payatas, Q.C.

Open Heart Foundation Worldwide Inc. is a nonprofit organization dedicated to

the empowerment of children and youth. The goals of this foundation are: (1) children

and youth manifesting positive changes in behaviors and attitudes having realized their

self-worth (2) children and youth adequately prepared and guided in the different

aspects of learning and development and (3) families and communities highly aware

and actively involved in the education of children, the promotion of their rights and their

protection. These goals are the reasons why the company chose to volunteer in this

foundation. The company sent Ms. Sherylle Anne E. Orozco to give some assistance in

Early Childhood Care and Development Program of this foundation. She was assigned

in Kapalaran Disciple Child Development Center to assist the Ms. Fragielyn Q. Aquisap,

teacher of the said center, in her works. Ms. Orozco, prepared a game for the children

called the “boat is sinking” to apply what they have learned in counting and numbers.

All of the children participated in the activity and three of them won the game. Prizes
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are given to the children who demonstrated excellent performance and participation in

the game.

Figure 5.10: Students enjoying their coloring book activity

Figure 5.11: Students of the Center

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6. Early Childhood Care and Development Program of Open Heart Foundation

Worldwide Incorporated.

Description: A representative of Sweet Co. visited a funded school of Open

Heart Foundation to render some assistance to the teacher.

Community Involvement: Yes

Date Conducted: June 27, 2007

Time: 8:00 am – 12:00 noon

Venue: Kapalaran Disciple Child Development Center, Brgy. Kapalaran,

Payatas, Q.C.

On June 27, 2007, a representative of Sweet Co., Sherylle Anne E. Orozco,

volunteered in one of the programs of Open Heart Foundation Worldwide Inc. – Early

Childhood Care and Development Program. Ms. Orozco assisted the teacher, Ms.

Fragielyn Z. Aquisap, of Kapalaran Disciple Child Development Center in teaching the

children. Ms. Orozco had given the children a coloring activity to master what they have

learned in their past activity which is distinguishing different colors. The activity is not

only to master the colors but also to develop their creativity. The activity is a contest

wherein exceptional works are selected from these children and declared as one of the

best drawings. Children who performed well in this activity were given prizes to

recognize their efforts and motivate them to excel in class.

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At the end of the class, Ms. Aquisap narrates the history of the school to Ms.

Orozco. She said that the school was once a church and was converted to school when

the pastor of the church went back to Korea. The need for education in the area

prompted Ms. Aquisap to convert the church to a school without financial support.

Initially, Ms. Aquisap obtains funding from the parents of the children enrolled in the

school. However, the difficulty of collecting money from these financially challenge

parents left her no choice but to find a way to help these children to continue their

education. Ms. Aquisap was introduced to the Open Heart Foundation where she had

been given support and funds to educate the children.

The history of the school and the eagerness of Ms. Aquisap to help these

children touched the hearts of the company members. It is such a privilege to work with

a person who demonstrated kindness to these children. The company prays that other

organizations and people will be able to extend their help in financing school materials

and needed supplies of the said school.

Figure 18. Students are enjoying their break time.

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Figure 7.1: Management Team

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Figure 7.2: Board of Directors

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