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Module9 Entrepreneurship Business-Implementation 2

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Faith Nathalie Elmin
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130 views

Module9 Entrepreneurship Business-Implementation 2

Uploaded by

Faith Nathalie Elmin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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BUSINESS IMPLEMENTATION

ENTREPRENEURSHIP

Quarter2–Module9
Quarter 2 — Module 9
Business Implementation

Before starting with this module, let


us see what you already know about
implementing a business plan.
Answer the questions below.

Instruction: Read the statements


carefully then write True if the
statement is correct
& write False if you think the
statement not correct. (to be
submitted when the classes
resume. Write in ¼ sheet of
paper
Profit is the amount you gain after selling your product. In
computing your profit, you just simply follow this formula:

Sales - Cost of Goods Sold = Gross Profit

The gross profit represents the difference between net


sales and cost of sales.
Variable costs are those things that change based on the
amount of product being
made and are incurred as a direct result of producing the
product.
Variable costs
include:
1. Materials used
2. Direct labor
3. Packaging
4. Freight
5. Plant supervisor salaries
6. Utilities for a plant or a
warehouse
7. Depreciation expense on
production equipment
8. Machinery
Fixed costs generally are more static in
nature. They include:
1.Office expenses such as supplies, utilities, a
telephone for the office, etc.
2. Salaries and wages of office staff, salespeople,
officers and owners
3. Payroll taxes and employee benefits
4. Advertising, promotional and other sales
expenses
5. Insurance
6. Auto expenses for salespeople
7. Professional fees
8. Rent
Guidelines for Successful Business
Plan Implementation:

1. Objectives – the entrepreneur should have a clear idea on what is


his purpose of putting up his enterprise.
2. Tasks – this means that the entrepreneur must know what are the
tasks he has to perform in order to realize his objectives.
3. Time allocation – This means that the entrepreneur should have a
time table or a schedule to follow for every task so that the tasks will
be accomplished timely and he can realize his objectives.
4. Progress – This means the entrepreneur should monitor the
development of the tasks and the accomplishment of the objectives.
The following are the basic requirements to start a
business in the Philippines:

Mayor’s
Business
2. for your Permit 4. for getting TIN,
1. for business 3. for getting the official
partnership tradename license to operate in receipts and
or the city or invoices,
Corporation municipality and registering your
payment of your local books of accounts
business taxes and paying your
SSS PAG-IBIG national Internal
PHILHEALTH revenue taxes
5. for registering yourself or
your company as an employer and for remitting
your employees’ contribution together with your
employer’s share
Other steps to follow before operating a
business are as follows:

1. Set up an accounting system or hire an accountant.


Knowing how the business is doing financially is important for
planning and survival.
2. Advertise the business. No one will buy the products or
services if customers do not know that the company exists. You
can make use of the social media.
3. Secure insurance for the business. Liability insurance
protects the business in the event of litigation. Consider life
and disability insurance, health insurance and fire insurance
when you are leasing an office or storefront.
Keeping Business Records

Good record keeping can help protect the business,


measure the performance and maximize profit.

Records are the source documents, both physical


and electronic, that specify transaction dates and
amounts, legal agreements and private customer and
businessdetails.
Developing a system to log, store and dispose
of records can benefit the business.

A systematic recording allows you to:

A. plan and work more efficiently;


B. meet legal and tax requirements;
C. measure profit and performance;
D. protect your rights; and
E. manage potential risks.
What I Have Learned ?

Implementing the Business Plan is not


that easy. It needs to be registered to make
it legal and record keeping gives a lot of
benefits to the enterprise.
ASSESSMENT:Write your Answer also at the back of your answer on slide#2

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