CHAPTER VI

INTRODUCTION TO BUSINESS
IMPLEMENTATION

Randolf B. Garcia
Jimboy D. Bayos
12-ZEÑAS
A very clear purpose
The entrepreneur must be very clear about the purpose in establishing the
enterprise. Whether it is for generating profits or feeding the family,
making a difference in the industry or actualizing the self, the purpose
must be compelling enough to motivate the entrepreneur.
A very compelling vision
The entrepreneur must establish an enterprise on the basis of a very
exciting business concept leading to a grand vision. If the business is just
like any other business in the marketplace, customers will not take notice.
The entrepreneur must offer something new, something appealing,
something different that says, “Take notice, I’m arriving with a bang!” In
other words, the entrepreneur must present a winning business concept
that manifest tremendous future possibilities.”
Not by any other name
Next, the entrepreneur must choose a very fitting name for the enterprise.
A good name identifies the company very well. It communicates what the
company is all about and what its product are all about.
A company of angels
In livelihood undertaking or microenterprises, it is common for
entrepreneurs to embark on a business venture as a “lone wolf,” not
needing the capital or expertise of others. At best, it may be a “mom and
pop” affair.
 
A very good business plan
The next step for the entrepreneur is to have a very good business plan. It is
a wise thing to do in order to chart the course of the business properly and
to focus the efforts of the entrepreneur.
Organizing and structuring the enterprise
The Business Plan must be able to estimate the capital required by the enterprise.
 
General partnership is composed of partners who are liable individually and
collectively all those who have claims against them.
Limited partnership consist of partners who have liabilities while others in the
partnership have unlimited liabilities.
There are four types of corporation
Stock Corporation. Issues capital stocks divided in to share (or proportions of the
total capital).
Non Stock Non Profit Corporation. Is organized to carry out a purpose or purposes
other than generating profits or investors.
Close Corporation. Has article incorporation that limit the ownership of issued
stock to at most 20 persons
Corporation Sole. Is a special form of corporation allowed by law, usually
associated with clergy.