I.L.A.W., Incorporated: Innovative Lasallians at Work, Inc. a business plan on one light stand

• Main Authors: Araos, Sharyn Tracy, Danta, Ella Melynne, De Rivera, Geoffrey, Madrigal, Bianca Melissa, Marbibi, Rowena, Mercado, Joanne Christine, Ngochua, Rafael, Remot, Wilson, Ventura, Emmanuel, Villaluna, Katerine D.
• Format: text
• Language: English
• Published: Animo Repository 2001
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/12015
• Institution: De La Salle University

Executive Summary. Innovative Lasallians At Work (I.L.A.W.), Incorporated is a corporation that is formed to offer innovative, highly functional yet affordable products. It is located at #246 San Francisco St., Kapitolyo Pasig City. There has always been a demand for home furnishing items, which the proponents saw as an opportunity to be taken. The One Light Stand is a 220-volt, three-level multi-purpose light stand, having multiple features, namely, lampshade, four-peace hanger type picture frame, mini table and revolving CD rack. The product has a dimension of 53.5 x 16 inches and a weight of 14 lbs. The whole framework of the One Light Stand is made of different sizes of round metal bars, designed to exude total product quality and decorativeness. The lampshade cover is made up of printed cloth that is detachable by a zipper for laundry purposes. With the product's versatility, innovative features, and affordability the One Light Stand is sure to hit the market with a bang. The form of business ownership that the proponents have chosen is corporation because of its numerous advantages deemed necessary for the success of the venture. The corporate name Innovative Lasallian At Works (I.L.A.W.), Incorporated captures the very essence of the company and its introductory product. The general connotation of Innovative Lasallians emphasizes the company's non-constriction to a single product. Hence, being open to future product development and diversification. It was chosen because of the proponents deram of giving pride and honor to their alma mater, De La Salle University and to the Filipino society as a whole. This corporation will exist for ten (10) months. Each of the proponents has stated duties and responsibilities to perform, as well as rules and regulations to conform with. The primary target market for the One Light Stand is composed of households located in Magallanes Village, San Lorenzo Village, Pilar Village, Posadas Village, Loyola Grand Villas, Northview II Subdivision, Madison Square Condominium, and Providence Tower. The total population of the primary market is 3,593 households. Three hundred forty-eight (348) households in these residential areas were selected through systematic-random sampling, and were surveyed accordingly with the use of the company's well formulated and pre-tested questionnaire. Upon the completion of the survey, the data gathered were tabulated and extensively analyzed. The market acceptability ratio of the One Light Stand for the primary market was determined to be 81.45%. Majority (84%) of the respondents found the product unique, with 81.45% willing to buy it. Monthly potential demand was computed to be 246 units. Market share of I.L.A.W., Incorporated for this product was computed to be 19.51%. With reference to the time and motion study, the proponents determined that for the One Light Stand, the assembly line method would be the most effective method of production. The manufacturing process consists of 26 steps all in all. In beginning the process, steps A to 1 (A-tracing and cutting of cloth B-cutting & designing of the chipboard C-cooling of confetti and hook for the picture frame D-measuring & cutting G1 sheet gauge 31 for the frame E-measuring, cutting of welded wire for the frame F-cutting of acetate and oslo paper for the frame G-metal treatment of the lampshade frame H-cutting and bending of GI wire for the CD divider I-application of metal treatment solution on the metal frame), shall transpire all at the same time. Following next to step A, which is the tracing and cutting of the cloth for the lampshade frame is step J, the sewing of the lampshade frame. The other steps follow accordingly. The detailed explanation of the production process is thoroughly discussed in the operation plan.