KRMD Souvenirs

“KRMD Souvenirs”

In Partial Fulfilment of the Final Requirement in

Entrepreneurship and Business Planning

Submitted by:
Caballero, Mae E.
Cusi, Dianne Marie G.
Gabriel, Rose Ann C.
Registrado, Karen V.

Submitted to:
Prof. Richard S. Gamier

February 23, 2016

 KRMD Souvenirs

CHAPTER I. PROJECT SUMMARY

1. NAME OF THE PROJECT

“KRMD SOUVENIRS”
The KRMD Souvenirs was derived from the initials of the owners; Karen, Rose Ann,
Mae and Dianne respectively. We have come up with the name that will be easily remembered
by the customers. KRMD Souvenirs have different products that will promote a certain tourist
destination in the Philippines, particularly in Region 4A, CALABARZON.

2. LOCATION
We will be partnering with the owner of the Fortune Island Resort in Nasugbu, Batangas
in order for us to be able to sell our products. The main attraction, which is the Fortune Island, is
an hour away from the coastal area in a boat ride and doesn’t have any facilities available. Day
tour or overnight camping are only available within the area. The Fortune Island Resort will
display our products and they may also profit from it.

3. DESCRIPTIVE DEFINITION OF THE PROJECT

KRMD Souvenirs offers a variety of products that will surely make them remember their
trip. The products will be souvenirs and handicrafts pertaining to the tourist destination which is
the Fortune Island. The souvenirs provided will be a notebook designed with the Greek-inspired
sculpture, a personalized bag tag, and a cell phone case with the photo of the tourist and the
background will be the Fortune Island.
 KRMD Souvenirs

4. CORPORATE PHILOSOPHY

MISSION
Our mission is to create unique and innovative souvenirs and handicrafts that will help
promote Fortune Island in Nasugbu, Batangas.
VISION
A well-promoted tourist spot and top-of-the-line souvenirs.
GOALS
1. To create a product that will be eye-catching to customers.
2. To create a souvenir that will remind a tourist of their experience.
3. To help in the economy by providing incomes from the local revenue and help promote
the tourist destination.
OBJECTIVES
SHORT TERM
1. Our objective is to become one of the well-known souvenirs and handicrafts shop that
will be able to provide satisfaction to our buyers.
2. Our objective is to help in the increase of the local revenue.
3. Our objective is to satisfy customers so that we will be able to conduct business with.
4. Our objective is to be able to retrieve the capital we used for the business and earn more
than our target income within a year or two.
5. Our objective is to become a long running business.
LONG TERM
1. Our objective is to be a pioneer in the souvenir and handicrafts industry.
2. Our objective is to attract and satisfy more customers.
3. Our objective is to get higher gross than the previous years. Higher debit means
successful business.
4. Our objective is to be able to promote the tourist destination with the help of our
souvenirs.
 KRMD Souvenirs

CHAPTER II. PRODUCT STUDY

1. PRODUCT DESCRIPTION
We wanted something unique and something that can be used in our daily activities. We
will be selling a planner, Nowadays, people want new and innovative designs. Fortune Island is
one of the picturesque tourist destination in the Philippines. It is now slowly making its name
among popular tourist destinations and being one of the most visited island in Batangas. The
designs of our products will be based on the Greek-inspired structure in Fortune Island.

(The design of the product)

 KRMD Souvenirs

2. LIST OF PRODUCTS/SERVICES

NOTEBOOK
People, especially those who like to jot down notes, are so in to the idea of a planner.
Different planners came out in the market as of now. Designs are out such as the photos of Eiffel
Tower, Buckingham Palace, and a double decker bus in London. So we decided to come up with
the idea of creating a design which will patronize our own tourist destination. We will be putting
the photo of the famous Greek-inspired structure in the cover of the planner.

(PLANNER)
 KRMD Souvenirs

CHAPTER III. MARKET STUDY

1. MARKET DESCRIPTION
With the boost of tourism industry, different competitors have gone out the market. And
in this kind of competition, we made sure that we are somewhat different among those
competitors. Fortune Island is slowly making its name among destinations that are frequently
visited among visitors.
We have divided our target markets into three. Employees who are in their vacation,
students who have their tours or escapade, and foreigners who are enjoying and exploring the
Philippines.
RESULT OF SURVEY
We have conducted a survey in Nasugbu, Batangas last January 30, 2016. The survey
consists of 5 sets of questions, answerable by choosing a, b, or c, and with 100 respondents, male
and female, whose age vary from 17 – 30 years old. The respondents were asked to choose on
which they think on what product will sell the most. Here are the results:
1. If we’ll be selling products based on the design on the Fortune Island, which do you think
will sell the most?

QUESTION 1
NOTEBOOK BAG TAG CELLPHONE

17%

55%
28%

In the question number 1, the respondents were asked to choose between the three; notebook,
bag tag, and cell phone case. 55% of respondents have chosen notebook, 28% have chosen the
bag tag, and 17% have chosen cell phone case. Majority of the respondents chose the
notebook/planner.
With the majority of the respondents choosing the notebook, the result of the survey will only
tackle about the notebook. This will help us determine the product prices and availability.
 KRMD Souvenirs

2. How much is your budget for the product?

QUESTION 2
Php50.00 Php75.00 Php100.00

12%

24%
64%

The figure number 2 shows the pricing of the product. 64% of respondents have chosen
the Php50.00 amount, 24% for the Php75.00, and 12% for the Php100.00. The chart shows low-
costs products are somewhat the reason as to why costumers purchase a product.

3. How many will you buy?

QUESTION 3
Once Twice Thrice

5%
10%

85%

The figure number 3 represents the number of items that the customer will buy. The most
amount, which is 3 items, got 8% while the 2 items got 9%, the least item among all of the
choices, which is 1, got the highest percentage of 83%.
 KRMD Souvenirs

4. How often will you buy?

QUESTION 4
1 2 3

8%
9%

83%

The figure number 4 represents the frequency of buying of the product. 85%, 10% and
5% are the percentage from the choices once, twice, and thrice respectively. The highest
percentage got the score of 85% which means that a consumer will only buy once, and it will
depend on the quality of the products that we provide.

5. If this is the design, will you buy it?

QUESTION 5
Yes No

6%

94%

Majority of the respondents, which is 94%, answered yes in buying the design that we
will be putting on our product. Only 6% of the respondents was not satisfied with the design we
have given them.
 KRMD Souvenirs

CHAPTER IV. COMPETITIORS STUDY

A. DIRECT COMPETITORS
1. Alix Beach Resort
 Apicable Boulevard Nasugbu, Batangas Philippines.
 Rentable Nuts or Kubos, outdoor pool, self-parking, garden

2. Shore Birds Beach Resorts Nasugbu Batangas

 Apicable Boulevard Nasugbu, Batangas. Philippines
 Standard Air-conditioned Rooms, Bahay kubo Units for couples and for family,
Snack and Bar souvenir shop, boating nearby Island Coves, Videoke for rent, free
use of BBQ grill and ample space for group event or meetings.

3. Bernabeach Resort
 Apicable Boulevard Nasugbu, Batangas. Philippines
 P75-100 per head entrance fee, Banana boat, pool, air-conditioned rooms, and
cottages.

4. Mary Land Beach Resort

 Apicable Boulevard Nasugbu, Batangas. Philippines
 Cottages, ample room space, pool, night life and souvenir stalls.

STRENGTHS
 Services provided
They have variety of services offered which makes them direct competitors.
 Long-running business
These resorts have been in the industry for so long that they already have their loyal
customers
WEAKNESSES
 Decreasing visitor arrival
With less visitor arrival, the profit of the business lessens
 Seasonality of the business
Businesses, like beach resort, depends upon the season of the country. Less customers
during the rainy season and more customers during the summer.
 KRMD Souvenirs

CHAPTER V. SWOT ANALYSIS

STRENGTHS

 Uniqueness of the souvenirs

We made sure that our products and designs has no copy. The design will be our
edge among products with our competitors. It will also be a way in making a name in
the souvenir and handicraft industry.

 Affordability
With the help of our survey, we made sure that the price of our product will
depend on what the customer wants and needs. Low-cost products are one of the
reasons why customers purchase an item within a seller.

 Product features
The products has specification which may take into the liking of the costumers.
We chose the product features that will fit for our target market.

WEAKNESS

 Competition in the market

In every business, competition is inevitable. With the same target markets and
products given, it is hard to get loyal customers. But with the proper use of marketing
strategies, we will be making sure that the business will prosper.

 Lack of experience on running a business

Since all the owners of the business are fresh graduate and first-time businessmen,
running a business is quite difficult. In order for the business to prosper, it requires
knowledge, discipline, hard work, and patience. This is what the owners must imply
to themselves in order to succeed.
 KRMD Souvenirs

OPPORTUNITIES

 Expansion
The decision for the business expansion will come from the success of the
business, whom within a year or two, have earned a lot of profit. In the expansion, not
only we will be able to promote the Fortune Island, but also other tourist destination.

 Increase in visitor arrivals

Not only our business may profit from it, but also the tourist destination, which is
the Fortune Island, may increase in its visitor arrival.

THREATS

 Competitors
Competitors who are in the long running business, who has the same target
market and souvenir shops.

 Change in the preference of the people

The varying preference of the people in the designs that they want should be
encountered for.

 Lack of tourist arrival

Tourist are the main focus of the products and lacking of tourist arrival is
inevitable.

 Seasonality
Visitor arrivals depend on the seasonality of the place.
 KRMD Souvenirs

CHAPTER VI. MARKETING STRATEGY

A. PRODUCT

The KRMD Souvenirs provides unique and innovative products that will surely attract the
customers. These products are made up of environmental-friendly materials that will also help
promote the tourist destination, Fortune Island. An item that may be kept by the visitors for them
to remember their tour.
The handmade pocket-sized notebook has a sturdy cover and is a reliable travel companion
for writings, diary, and notes. The 3 ½” x 5 ½” with 80 pages with a spiral bound is available
depending on the supply.

PRICE
The pricing strategy will be based on our survey that we have conducted. The price will
depend on the customer’s budget and on the materials that will be used. Low-cost products but
with high quality are what attracts the customers most, and that is one of our goals in this
business.
Notebook/Planner Php50.00
 KRMD Souvenirs

B. PLACE

Fortune Island is a resort island in Batangas province in the Philippines. It is a 27-hectare

island and is 14 kilometers away from the coast of Nasugbu, a province in Batangas. Dubbed
as the Santorini in Batangas, we chose this place because of the fascinating view that will
leave you breathless upon arriving to the island. Its pinkish white sand and the clearness of the
water are just one of the reasons for its increasing visitor arrivals.

C. PROMOTION

Different media have helped the industry in promoting certain products. For
customer’s easy and fast transaction, we will be using the media to promote our products. We
will be having a social media account where we can post our products with prices, so they
can also purchase our products online.
D. PHYSICAL ATTRIBUTES

Our souvenirs are in good a quality that satisfies customer’s wants and needs. These
products are designed uniquely and useable especially for all tourist who loves to buy and
collect souvenirs.
E. PEOPLE
The people around our business will create an impact for the success of our shop. As
such, employees should make sure that the customers will feel welcomed and relaxed in our
shop. Employees must ensure that the customers will get the satisfaction they need.
As for our target market, they will help us profit in the business industry in order for us to
continue our service. Not only may our business profit, but also the host community and the
local people.
 KRMD Souvenirs

F. PROCESS

NOTEBOOK

FIRST STAGE

notebook manufacture

SECOND STAGE

putting the design cover

THIRD STAGE

Packaging
ITEM QUANTITY UNIT COST TOTAL COST
Fine Paper – Centennia 80 Sheets Php 19.75 Php 39.50
Veco Folder 1 pc. Php 3.25 Php 3.25
Sticker Printing (cover) 8.5” x 11” Php 80.00 Php 80.00

G. WASTE MATERIALS
As much as possible, we will be using recyclable materials. The non-recyclable materials
will be picked up by the dump truck every Monday, Wednesday and Saturday in order not to
accumulate too much trash in the office.
 KRMD Souvenirs

CHAPTER VII. TECHNICAL ASPECT

A. PLAN, LOCATION, SIZE AND PRODUCTION SCHEDULE

PLAN
Our plan for our business is to display products in the shop, this way; it may help attract
customers for they will see our products.

LOCATION
The location of our place will be in Fortune Island Resorts in Nasugbu, Batangas.

SIZE
The production size will depend on the sales during the first six months prior to opening.
We will be producing ample amount of products that may be able to accommodate all buyers.

PRODUCTION SCHEDULE
The production schedule will be every Mondays.
 KRMD Souvenirs

CHAPTER VIII. MANAGEMENT ASPECT

A. ORGANIZATIONAL STRUCTURE OF THE PROJECT
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Position: STORE OWNER

Job Description:
The store owner must own at least 25% - 50% of stocks in the business. The store owner
is responsible for the decision-making in the business. They will incorporate ideas which will
make the business prosper. Success is a crucial part of the shop and it will depend on the
cooperation of the owners. The store owner must also ensure that all employees are performing
their job activities and meeting the customer expectation for customer’s satisfaction.
Duties and responsibilities:
 Oversees the implementation of policies and procedures
 Responsible to keep all forms of documents or files in his office
 Responsible for managing the operation and personnel

Qualifications:
 Must be at least 20 – 30 years old
 The store owner must have a share of stocks in the business
 The store owner must know how to cooperate with others
 The store owner must have the ability to multi-task
 The store owner must be creative, high-analytical, resource-oriented and possess
leadership skill

Position: STORE MANAGER

Job Description:
A Store Manager is in charge of entire stores and the employees that work within. Store
managers are in charge of the general operations of a store, making sure it runs smoothly, cleanly
and meets any budget or sales goals. It might plan and promote the daily schedule of employees
and the business, interview, hire, coordinate and discipline employees, make sure the store is
stocked, clean and in proper working order, create and maintain budgets, and coordinate with
and report to senior management in the company.
Job Specifications:
 Must be at least 20 – 35 years old
 Must be a graduate of any related Business Administration course
 Doesn’t have to have any experience in the field
 Good merchandising skills and implementing creative merchandising themes
 KRMD Souvenirs

Position: SALES CLERK

Job Specifications:
 Must be quick and know how to manipulate a P.O.S. (Point of Sale)
 Know how to handle situations regarding the recording of the official receipt, reports and
turnover of the cash received for the day.
 Count money in cash drawers at the beginning of the shifts to ensure that amounts are
correct and that there is adequate change.
 Sort, count, and wrap currency and coins.
 Know how to calculate total payments received.

Job Qualifications:
 Must be 18 – 25 years old
 At least 5’2” in height
 Must be good in oral communication, specifically in English
 Must be with pleasing personality, trustworthy and hardworking
 At least 2 years in college.

Position: SECURITY GUARD

Job Description:
Security Guard is responsible in ensuring the safety and security of a building or a
company. Part of their work is to patrol, guard, and check anyone who will enter the building.
Job Specification:
 At least College level or most preferably graduate.
 Must have wide knowledge and ability in securing a building or a place
 Must have the ability to protect and serve
 Can easily detect suspicious things or actions
 Knowledgeable in using firearms and other security equipments
 Ability to do roaming around even at night
 Can do shifting schedules
 Must have wide knowledge on first-aid
 Must have good communication skills and must be courteous
 KRMD Souvenirs

Position: JANITOR

Job Description:

The janitor is responsible for cleanliness of the shop. The janitor must sort and pick up
trash, putting it in its designated places. The janitor must also load the trash to the truck.

Job Specifications:
 Must be at least 18 – 30 years old
 Must be hardworking
 Must be High School Graduate
 Can work fast

MONTHLY SALARY

POSITION BASIC SALARY NO. OF WORKING MONTHLY SALARY

DAYS
Store Owner - 26
Store Manager Php850.00 26 Php22,100
Accounting Clerk Php670.00 26 Php17,420
Sales Staff Php456.00 26 Php11,856
Security Guard Php456.00 26 Php11,856
Janitor Php456.00 26 Php11,856
Total Php2,888 156 Php75,088

FRINGE BENEFITS

POSITION SSS PHILHEALTH PAG-IBIG TOTAL

Store Owner
Store Manager Php 2,431.00 Php 550.00 Php 6,630.00
Accounting Clerk Php 1,916.20 Php 425.00 Php 5,226.00
Sales Staff Php 1,304.16 Php 275.00 Php 3,556.80
Security Guard Php 1,304.16 Php 275.00 Php 3,556.80
Janitor Php 1,304.16 Php 275.00 Php 3,556.80
Total Php 8,259.68 Php 1,800.00 Php 22,526.40
 KRMD Souvenirs

B. ARTICLES OF PARTNERSHIP

ARTICLES OF PARTNERSHIP

Of

KRMD SOUVENIRS

KNOW BY ALL MEN BY THESE PRESENTS:

That we, undersigned, of legal age, citizens and residents of the Philippines have this day

voluntarily bind ourselves together for under the terms and conditions herein after set forth, and

subject to the requirements of existing laws of the Republic of the Philippines.

AND WE HEREBY CERTIFY:

ARTICLE I. That the name of the Business shall be called “KRMD Souvenirs” and shall

operate and transact business under said firm name.

ARTCLE II. That the principal office of this partnership shall be Fortune Island Resort,

Nasugbu, Batangas. Which office may be changed from time to time upon agreement of the

partners.
 KRMD Souvenirs

ARTILCLE III. That the names, surnames and postal address of the partners of this partnership

as follow:

NAMES ADDRESS

22 Boston Tech, University Hills Subdivision,

Mae E. Caballero
Caloocan City

7F Diamond St. Millionaires Village, Novaliches,

Dianne Marie G. Cusi
Quezon City

Rose Ann C. Gabriel 492 Santol, Balagtas, Bulacan

Karen V. Registrado 258 Camia St. Malaria Tala Caloocan City

ARTICLE IV. That the term for which said partnership is to exist up to 2021, 5 years from the

original recording of the said partnership with the Securities and Exchange Commission.

ARTICLE V. That the purposes for which said partnership is formed are as:

That the purpose or purposes shall be to engage in and carry on a general mercantile and

trading business and to buy or acquire, hold, import, export, trade or otherwise dispose of any

kind of goods, wares and merchandise such as but not limited to general electric and electronic

materials and appliances and other articles of commerce without limit as to character or amount.
 KRMD Souvenirs

ARTICLE VI. That the Initial Investment of this partnership shall be 3,000, 000. 00, and that

the capital contribution in Philippine Currency contributed in cash by the partners as follows:

NAME AMOUNT CONTRIBUTED

Mae S. Caballero 125,000.00
Dianne Marie G. Cusi 125,000.00
Rose Ann C. Gabriel 125,000.00
Karen V. Registrado 125,000.00
TOTAL Php400,000.00

ARTICLE VII. That the profits and losses shall be divided between Mae Caballero, Dianne

Marie Cusi, Rose Ann Gabriel, and Karen Registrado based on average capital balances. They

shall receive in addition to their shares in the profit a month salary each until otherwise changed

by the partners.
 KRMD Souvenirs

CHAPTER IX. FINANCIAL ASPECT

A. PRICING STRATEGY AND POLICY

EMPLOYEE POLICY
Benefits and Employee Assistance Programs
1. SSS
As an employer or any person who engaged in business industry or undertaking must be
registered with the Social Security System (SSS). This is a compliance with the Republic Act.
8282, and to protect employees and respective beneficiaries against hazards of work, the
employee requires them to be a member of the Social Security System (SSS).
2. PhilHealth
It is deducted against the monthly earnings of the employees to provide security for
medical, dental, surgical and other health services needed in times of emergency
3. Pag-ibig
It is deducted from the employee against monthly earnings.
4. Sick Leave/ Vacation Leave
Available to those employees who after rendering or qualifying one (1) year of service in
the business, an employee is entitled to a 5-day sick leave with full pay. For every application for
sick leave must be made directly to the owner, attached with a medical certificate signed by the
physician, immediately upon return at work.
5. 13th Month Pay
The 13th month pay will be equivalent to the regular basic salary of the employee
(without any deduction from absences and such); will be given on the 24th of December.
6. Hours of Work
The manager must have 9 hours of work, 6 days a week, including 1 hour meal period
and 8 hours of service. All employees are entitled for a 1 hour break from 12pm to 1pm. For the
rank and file work, they must have 8 hours of work, from 8pm to 5pm, 6 days a week, has no
specific break time because the score of their work is different from one another. For the security
personnel, however, he must have a 24-hour work service, every other day, depending on shift
and other instances.

7. Payday
The employees are paid every month.
 KRMD Souvenirs

8. Salary
The accountant will be compensated P670 per day.
9. Wages
For the skilled workers, they will be compensated for P456.
10. Leave of absence
The management recognizes the need for an employee to rest in order not to get bored of
his work and some for another purpose that same situation may persist. Leave of absence is
given once a year, five (5) days.
11. Days and time of operation
The KRMD Souvenirs will operate 7 days a week, from Monday to Sunday.
12. Time record
This will be the official time indicator for the employees for their actual time and
departure.
13. under time
For emergency and justifiable reasons of employee may allow entering under time.
14. Tardiness
Heavy traffic does not continue for the late arrival and shall be charged against vacation
leave. Tardiness made too poor service and will be charged against his/her re-compensation. The
business uses motivation purpose and also to ensure that such employee is rendering quality
service.
Business Policies and Procedures
Business policy may serve as a guide in running over a business. This may be very
essential for profitable operation. These are the set of rules and regulation that every employee
must abide in order for the business to be profitable and gain respect not only from the
customers, but likewise in the environmental concern in the operation of the business.
1. Regular staff employment may be initiated at any time by either the employee or by the
company in accordance with this policy.
2. Employees may be separated from the employment through voluntary resignation, job
abandonment, or involuntary termination, lay-off or position elimination.
3. An employee voluntarily separating from the employment shall be required to give and
fulfill the proper notice period in order to separate in good standing. Generally, the notice period
will take 2 weeks (for non-exempt) and 4 weeks exempt (salaried) employees.
 KRMD Souvenirs

I. Termination of Employment
1. Any termination, suspension or corrective action of the staff, employee shall be
consideration of the nature and severity of the issue.
2. Grounds for termination for misconduct, which may immediate, include, but are not
limited to the following:
a. Insubordination, which includes an unwillingness to perform assigned duties.
b. Violation of the company or department rules.
c. Falsification of the employment application, time records or other company
records;
d. Any act which serves to defame or malign company’s reputation;
e. Dishonesty on the job;
f. Imperiling the safety of the company employees or the public, or possession of
deadly weapons on company property or on company business, other than by an authorized
employee.
g. Gambling on company property while on the job;
h. Negligent destruction of company property;
i. Drug abuse, or the influence thereof, or unauthorized use of consumption of,
while on the job or company premises;
j. Acts which contribute a violation of local, state or federal law while on the job or
on company property;
k. Incarceration in jail following by a conviction by a court of law which results in
missing at least five consecutive working days;
l. Job abandonment;
m. Any action, participation or creation in a situation which recklessly or
intentionally endangered mental or physical health or involves a forced consumption of drugs or
alcohol for the purpose of initiation into or affiliation with any organization;
n. Fighting, physical assault, physical violence or threat of physical violence while
on the job; or
o. Other misconduct while on the job or company property.
 KRMD Souvenirs

3. Termination of regular employees for the reason stated below requires documentation of
performance issues. Grounds for termination or any other corrective action may include, but are
not limited to the following:
a. Failure or neglect to perform assigned duties
b. Inappropriate or unsuitable job performance
c. Inability to perform assigned duties
d. Failure to act in courteous or appropriate manner towards the public or company
employees
e. Excessive absences or tardiness
f. Failure to inform the department head or supervisor of absences or expected
tardiness.
4. Prior to the termination of the regular employee for reasons covered in this policy. The
supervisor or department head shall consult with the Store Manager. If the personnel in this
department are absent, the employee shall be suspended, without pay, pending review of the
situation with the Store Manager.

II. Lay Off

1. A layoff is a separation from employment when recall of a regular employee is anticipated
within one year. Lay off of a regular employee may be necessary because of the following:
a) Lack of work
b) Lack of funds to continue the position;
c) Other reasons leading to reduction in force

Note: In all cases, the date of the separation shall be the last day the employee actually worked
even when the terminal vacation pay may be granted.
2. A minimum notice of one pay period shall be given to the employee prior to the layoff.
3. Authority for lay off lies after consultation with the General Manager. Decisions for lay off
shall be based on the following:
a) The type of work
b) The employee’s work performance
c) The employee’s length of service
 KRMD Souvenirs

III. Position Elimination

1. A regular position may be eliminated due to loss or funds or organizational changes which
necessitate the elimination of the position.
2. A minimum notice of one pay period shall be given to the employee prior to the separation.
3. Authority to layoff lies after consultation with the General Manager. Decisions for layoff shall
be based on the following:
a) The type of work
b) The employee’s work performance
c) The employee’s length of service

IV. Employee Separation Sheet

1. The employee separation sheet shall be initiated by the department head as soon as the date of
separation is determined. The form shall state:

a) The last day actually worked

b) The reason for separation; and
c) Amount of terminal vacation, if any

Note: In all cases, the date of the separation shall be the last day the employee actually
worked even when the terminal vacation pay may be granted.
2. The department shall complete the applicable sections of the form at the time the employee
gives or is given notice of separation. Any letters of resignation or memorandum shall be
submitted with the form.
3. The Employee Separation Sheet shall be discussed with the employee by the General Manger
and signed by him/her. The employee shall be requested to sign the Employee Separation Sheet.
The employee’s signature notes knowledge of and not necessarily agrees with the content of the
Employee Separation Sheet.

B. CAPITAL FOR THE PROJECT

Each member of the business will provide an amount of Php125, 000.00 each. Amounting to
Php400, 000.00 for the business capital which will be used for the business’ materials, labor
works, and taxes that will be paid to the government.
 KRMD Souvenirs

CHAPTER X. SOCIO-ECONOMIC ASPECT

Nowadays, tourism industry has become one of the most important factors in our
economic growth. Not only that the economy benefits from it, but also the local government,
employees, and the tourists. With the tourism industry growing, different business has come out
of the market. One of those is the souvenirs and handicrafts. Not only will it help the tourism
industry, it will also help the locals for their profit. It is also a way of patronizing our own
products.
EMPLOYEES
Employees are important part of the business, because if not for them, the success of the
business will surely prosper. Employees will surely benefit because of the primary reason of
having a source of income, salary, and wages that they can use to provide for their basic needs.
TOURISM INDUSTRY
By promoting the tourist destination, visitor arrival will most likely increase. Thus,
helping the profit in the destination. And also by patronizing our own products.
COMMUNITY
By choosing the local people as workers and using local materials, the profit will come to
the local government which may help in the growth of their economy.
GOVERNMENT
The tax generated by our business will benefit the government. The business will pay the
required amount of tax to the government. These taxes can be used to improved community
projects like infrastructures, roads, and funds for public institution in the country.
OTHER BENEFICIARIES
Upon of this business, many other parties will be benefited. Suppliers are one of which
affected. We will need their products for the operation of the business thus having income on
their part. The local manufacturers will also be benefited by the business, they are the
manufacturers from which the raw materials to be used will be purchased. They will be benefited
in such a way that the business owner will patronize their products.
MEMBERS
The members of the feasibility study are the one that will benefit on this project. Not only
the proponents may be able to understand the nature of making a business plan, the proponents
were also able to handle different tasks and situations given to them prior to conducting surveys
and ocular inspection of the location site.