A Reflection Paper

We entitled our assumed company which named JRP Lending Company Corporation.
JRP stands for the initials of our assumed CEO named Jerome R. Pontioso. Its business started
with 5-6 (five-six) and expanded after 2 years, mostly in the entire Northern Mindanao. The
content of our manual are the mission, goals, objectives and policy of the company together
with the procedures on how to apply an investment or loan in our company. There are also
background information of the CEO of his personal life and his career life where stated there
when he started and how he formulated his company to become one the trusted lending
company in the entire Philippines. There are also information there of how much capital the
company has and who are his business partners who helped him to expand his company. Our
mission is providing entrepreneurial poor an opportunity to support their economic and social
condition while maintaining the high standing of our company. Our company is not just
aiming for a high profit but also helping other companies which in need. Our goals, of course,
to have 0% of bad debts or uncollectable accounts to sales. Protect JRP from abuses that occur
in the market place who enter into short-term, high rate loans. Also improving distribution of
information and services through web-based tool to open more new accounts. Our objectives
are providing consumer complaint process to whoever violates the law. Examine financial
institutions to assure their operations are in accordance with law and sound financial
institutions practices. Our company has integrity and treats all borrowers fairly and reasonably.
We base our decision on careful and prudent assessment of a borrower’s financial position and
has capacity to repay a loan. If the applicant feels they have been wronged or mistreated, there
are redress is in place. And lastly, the procedures on how to apply an investment or loan in our
company. First, we evaluate new costumer’s creditworthiness. If the new costumer has the
ability or has these 5 C’s of credit, he can now comply his initial requirements. These are for
protecting the company from abuse fake loaners or investors which the first step that leads the
company into bankruptcy.

By formulating an idea of having an assumed company that will make us formulate a

mission, goals, objectives, policy, and procedure is not that easy. We encountered many trials
thinking what would be our company’s name. Since we have no idea how to begin the simple
credit and collection manual, we research first how to formulate a mission, goals, objectives,
policies, and procedures of the company. We first named our assumed company, Duterte
Lending Company Corporation. Funny right? Because it’s so out of the way our company’s
named. Then, we decided to name it to our assumed CEO with his initial JRP. So we come up
to name it now as JRP Lending Company Corporation. We asked some employee in the bank
but all of them refused to give us an information. That give us an idea that the information in
the bank or company is very confidential. We have no choice but to research and research at
all. We write our introduction by formulating an information in our assumed CEO. We based it
to Henry Sy’s early life and career life on how to formulate it. All we have written is based on
our research. But take note, we never copyright every detail, just a basis.
 This simple credit and collection manual helps me to give me an idea on how to make a
mission, goals, objectives, policy, and procedures in a company. It’s a future preparation if
ever soon after I or we graduate in college, we have this idea of building a company, we can
now know how to formulate mission, goals, objectives, and policy in our own company. You
should plan very well and have an outlook on what it would be and what it should be in the
future. Because this lending company rely on money and if you fail to handle it, it is a big lost.
I have a plan in building a business soon, so now this helps me to improve more what I’ve
plan. Though my future business is far from the business we formulated because it’s too huge
and hard to handle than mine but at least in terms in strategy of a business, it helps me a lot.

In terms in applying it to my future business, it is giving me so much idea of how to

formulate mission, goals, objectives, and policy. Before I build a business, it should be plan
well to avoid bankruptcy. You should think not just to have high profit but think if you are
able to give costumer’s satisfaction with your business. That’s what I learn in researching what
mission is.

Nerissa S. Torotoro
BSBA-FM I
TTh 10:30am-12nn