Lindy Madera March 6, 2021

ABM 12 - Tenacity Assignment # 4

The different forms of businesses according to nature:

I. SOLE PROPRIETORSHIP
- Is a business venture owned by one person.
- Is a simple business operation that is easy to form and manage.
- Wherein growth is limited yet the owner possesses unlimited liabilities.
- There is limited pool of resources.

II. PARTNERSHIP
- Is a business venture that is owned by two or more persons.
- The owners usually called partners.
- The life of the partnership is easily dissolved compared to a corporation.
- Whatever profit or loss that results from the entrepreneurial operation is divided between
or among the partners.

III. CORPORATIONS
- Is an entrepreneurial venture formed by a least five but not more than fifteen persons.
- It can either be stock or non-stock, profit or non-profit and domestic or foreign.
- Incorporators are the people responsible for originally forming the corporation.
There are classifications of corporations:
A. STOCK CORPORATION when it is authorized to issue shares of stock to
holders.
B. NON-STOCK CORPORATION is not authorized to issue shares of stock to the
members.
C. DOMESTIC CORPORATION organized under the laws of the Philippines.
D. FOREIGN CORPORATION organized under the laws of the foreign country but
has the authority to operate in the Philippines.

The four M’s in the production of goods:

I. MANPOWER - simply refers to the human workforce involved in the manufacture of products.
- It is considered as the most critical and important factor of production.
II. METHOD - refers to the process or technique of converting raw materials to the finished
products.
- The raw materials undergoes several stages before it is completed and becomes
ready for delivery to the target consumers
There is also a Mode for Production - refers to how the product will be produced.
1. Intermittent Production System
- It is adopted when the production process is basically short and the
machines are frequently changed.
2. Continuous Production System
- Is adopted when the demand for the product is considered constant.
3. Just -in-time Production System
- Goods are produced just in time when the market needs or demands for
them.
III. MACHINE - refers to the manufacturing equipment used in the production of goods or
delivery of services.
IV. MATERIALS - simply refers to the raw materials needed in the production of a product.
- It is basically form part of the finished products.
Lindy Madera
ABM 12 - Tenacity
It used to be an island inhabited by a
tribe that was more or less led by the
Muslim King, Datu Lapu-Lapu. In this
era of the island, it was a barbaric
stage of the community.
It was an island colonized by
Spaniard, Magellan and he turned it
into a thriving community. Greeneries
still surrounded the island back then.
When an Augustinian found the island
and founded a town in the island, it
became a somewhat civilized state
and the population learned to farm and
fish.
People also learned to trade lands with
whatever goods they deem it to be
worth the same value of the object to
trade with. They also wore tribal
clothings.
March 6, 2021
Assignment # 4
Lapu-Lapu has been a more civilized
state to the point that it turned into a
city rather than the rural island it was in
the past.
Instead of the very many green lands. It
slowly turned into a city with small and
medium-sized buildings. Stalls are
found everywhere and the citizens find
it easier to buy-and-sell with money in
the form of coins and paper.
People learned to be innovative with
their sense of fashion and imitated
clothes that other countries wore. They
are also given education at a young
age.
Aside from the jobs they use to have
like farming and fishing, the citizens
now have jobs with different
profession.