I.

Partnership
As per the Article 1767 of the Civil Code of the Securities and Exchange
Commission (SEC), a partnership defined as an association of two or more persons
who bind themselves to contribute money, property, or industry to a common fund,
with the intention of dividing the profits among themselves. A partnership is not a
corporate

I.I Reason for choosing Partnership as a Form of Business Organization

ProVent is a partnership as to its form. Being a novice in economic environment,
it’s the best option especially for a new entrant like this. Aside from it is easy to form
and establish because you can create a partnership by simply agreeing to go into
business with your partners, it does not require a large amount of capital in order to
operate as compared to a corporation. It is also less in terms of paper works,
requires least formality and subject to few government regulations. There are no
forms need to be filed or formal agreements drafted as long as you comply in filing a
partnership certificate with a state office in order to register the business name and
securing a business license.
In addition to these, as compared to a sole proprietorship which is essentially the
same business form but with only one owner, a partnership offers the advantage of
allowing the owners to draw on the resources and expertise of the co-partners since
each partner’s asset contributed to the partnership can now both owned and
controlled by the all of the partners. Aside from joint assets contribution, each
partner is also having equal responsibilities with regards in sharing of the workloads
and liabilities incurred by the partnership as per stipulated in the partnership
agreement. More so, the profits of the partnership are pass through to its owners,
who report their share on their individual tax returns. Therefore, the profits are only
taxed once (at the personal level of its owners) rather than twice, as is the case with
corporations, which are taxed at the corporate level. Furthermore, because the
owners of a partnership are usually its managers, especially in the case of a small
business, the company is fairly easy to manage, and decisions can be made quickly
without a lot of bureaucracy.

II. Functions of the Departments Involved

a. Marketing Department
The Marketing Department plays a vital role in promoting the business and
mission of an organization. It serves as the face of your company,
coordinating and producing all materials representing the business. It is
the Marketing Department’s job to reach out to prospects, customers,
investors and/or the community while creating an overarching the image
that represents your company in a positive light.
 Among the duties and responsibilities of marketing department are the
following:
a. Defining and managing the partnership’s brand.
b. Conducting campaign management for marketing initiatives.
c. Producing marketing and promotional materials.
d. Creating content providing search engine optimization for your website.
e. Monitoring and managing social media.

b. Sales Department
A sales department is responsible for selling products or services for a
company. The department comprises a sales team that works together to
make sales, increase profitability, build and maintain relationships with
customers to encourage repeat purchases and brand loyalty.
Among the duties and responsibilities of sales department are the
following:
a. Preparing sales plans.
b. Researching.
c. Handling sales issues.
d. Building customer relationships.
e. Training and onboarding.

c. Finance Department
Finance is the lifeblood of any business, without proper financial
resources, no business can run smoothly, the finance processes can be
related to planning, execution, control, and maintenance of financial
resources. Moreover, its scope is ever increasing as it widens as the
company grows however listed below are the functions of finance
department.
a. Assisting in the preparation of budgets.
b. Managing records and receipts.
c. Reconciling daily, monthly, and yearly transactions.
d. Preparing balance sheets.
e. Processing invoices.
f. Developing an in-depth knowledge of organizational products and
process.
g. Providing customer service to clients.
h. Resolve financial disputes raised by the customer service and sales
teams.
i. Being a key point of contact for other departments on financial and
accounting matters.
j. Supporting the finance manager and executives with projects and
tasks when required.
d. Accounting Department
An Accounting department help businesses make critical financial
decisions by collecting, tracking, and correcting the company’s finances.
They are responsible for financial audits, reconciling bank statements, and
ensuring financial records are accurate throughout the year.
Among the duties and responsibilities of accounting department are the
following:
a. Tracking payments to internal and external stakeholders.
b. Preparing budget forecasts.
c. Processing tax payments and returns.
d. Manage all accounting transactions.
e. Publish financial statements in time.
f. Handle monthly, quarterly, and annual closings.
g. Reconcile accounts payable and receivable.
h. Ensure timely bank payments.
i. Report on the company’s financial health and liquidity.
j. Audit financial transactions and documents.
k. Reinforce financial data confidentiality and conduct database backups
when necessary.
l. Comply with financial policies and regulations.

e. Customer Service Department

Customer service department interact with customers on behalf of an
organization. This happens through various support channels available to
them. Thus, they can resolve customers’ issues quickly and effectively.

Among the duties and responsibilities of customer service department are

the following:
a. Answering questions about a company’s products or services.
b. Processing orders and transactions.
c. Resolving issues and troubleshooting technical problems.
d. Delivering information about a company’s offerings.
e. Providing proactive customer outreach.
f. Handling customer complaints.
g. Collecting and analyzing customer feedback.
h. Responding to customer reviews.