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EntrepreneurshipHandout Week 4

The document outlines the basic requirements and steps for starting and operating a business in the Philippines, including registering with various government agencies. It also discusses what should be included in a business plan such as an executive summary, marketing plan, financial projections, and defines key parts. Finally, it covers how to properly implement a business plan through communication, organizational development, setting priorities, and moving the company forward.

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Pio Guiret
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105 views

EntrepreneurshipHandout Week 4

The document outlines the basic requirements and steps for starting and operating a business in the Philippines, including registering with various government agencies. It also discusses what should be included in a business plan such as an executive summary, marketing plan, financial projections, and defines key parts. Finally, it covers how to properly implement a business plan through communication, organizational development, setting priorities, and moving the company forward.

Uploaded by

Pio Guiret
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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CO QAH + MELC LW

Course Outline & Quality Assured HANDOUT No. 4


Handouts paired with MELC- ENTREPRENEURSHIP
Based Learner’s Worksheet

MELC: Manifest understanding of starting and operating a simple business


 Implement the business plan
CS_EP11/12B-ENTREP-Iva-i-1
Semester: Second/ 4th Quarter Week No. 4 Day: 1- 4
LESSON: Starting and Operating a Simple Business

TOPIC 1: Basic requirements in starting and operating a business in the Philippines


In operating a business, the entrepreneur should first consult professional for advices, like accountants or
consultants from small enterprises. In your case, you can consult your teacher in entrepreneurship or
anyone you think that could help you. The following are the basic requirements to start a business in the
Philippines:
 Securities and Exchange Commission (SEC) - registration for partnership or Corporation.
 Department of Trade and Industry (DTI) - registration for business tradename.
 Mayor’s Business Permit – for getting the license to operate in the city or municipality and
payment of your local business taxes.
 Bureau of Internal Revenue (BIR) Registration – for getting TIN (Tax Identification Number),
official receipts and invoices, registering your books of accounts and paying your national internal
revenue taxes.
 SSS, PhilHealth, and Pag-Ibig Fund Registration – for registering yourself or company as an
employer and remitting your employees contribution together with your employer’s share.

TOPIC 2: What is a Business Plan?

Business Plan - a business plan is a written document that describes in detail how a business - usually
a start-up – defines its objectives and how it is to go about achieving its goals. A business plan lays out a
written roadmap for the firm from marketing, financial, and operational standpoints.
(https://freesearch.inprivatesearch.com/search)

Essential parts of a Business plan:


1. Executive Summary – describes briefly why your business needs to exist, what your company
does, describe your target customers, summarize key competitors and overview of you and your
team.
2. Opportunity - describes the needs of the customer and your solution, what is unique and special
about your company and describes your key costumers.
3. Execution – Includes your Marketing Plan, describes your company or business locations,
describes the software you will use in operating your business and equipment and tools you will
utilize.
4. Company – this area specifies who owns your company is it a sole proprietorship, partnership,
non -profit organization or a corporation. It also shows the list of your management team including
yourself and description of each person’s skills and what they will be doing for the company.
5. Financial Plan – describes on how you came up with the values in your financial forecast, shows
your projected revenue, projected expenses, sources of funds, projected profit and loss.
6. Appendices – shows the charts such as balance sheets, income statements and cash flow
statement.

TOPIC 3: Implementation of Business Plan

To Implement a plan properly, managers and business owners should communicate clear goals and
expectations and supply employees with the resources needed to help the company or business achieve
its goals.

A. Improvement through change. The implementation of a plan brings about change meant to help
improve the company or solve a problem. The changes can occur to policies, management structures,
organizational development, budgets, processes, products or services. Change can help improve the
work environment and/or customer experience.

B. Good Organizational Development. Part of good organizational development involves all employees
in implemented changes. When a company shares its ideas and goals with workers, the workers will feel
a sense of ownership and loyalty to the company, as well as feel included in something important that is
larger than their respective job descriptions. Making workers feel valued also help maintain or improve
employee retention.

C. Increased Interdepartmental Cooperation. It will be easy for a department within a business to work
independently and only rely on another department when the need arises, particularly in large
companies. Business implementation helps unite departments, open the lines of communication, create a
diverse culture within the organization and increase efficiency and productivity.

D. Setting Clear Priorities. Priorities are generally based on due dates, client needs, financial concerns,
worker needs or logistics. Deadlines help guarantee the implementation of a plan with realistic due dates,
but a company must provide its workers with clear action steps and resources to ensure the success of
the plan. Failure to communicate priorities can cause inefficiencies, miscommunications, worker
frustration and low morale. When priorities or deadlines are realistic, employees feel as if a company is
setting them up for success.

E. Moving a Company Forward. Business implementation is important for moving a company forward,
as is not underestimating the importance of implementation planning. When a business fails to implement
and execute its strategies properly, it fails to move forward and grow. According to website Business
Balls, to implement and execute a plan successfully, there must be "motivational leadership," a plan of
action and "performance management."

References

 Final Copy of Most Essential Learning Competencies (MELCs). (2020, June 24). Retrieved July 13,
2020, from https://www.depedtambayanph.org/2020/05/most-essential-learning-competencies.html
 Entrepreneurship, Diwa Senior High School Series, pages 137-141.

Websites:
 https://smallbusiness.chron.com/make-business-plan -789.html
 https://business.phila.gov/business-plan/
 https://www.thebalancesmb.com/writing-a-business-plan-implementation-plan-1200844

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