Pal-Z Incorporated: Assessment of the business venture performance

• Main Authors: Antiporta, Pamela B., Bellosillo, Hannah G., Dela Cuesta, Sheryl C., De Leon, Anna Mariel Z., Narvaez, Angeline B., Pascasio, Dominic G., Rodriguez, Kristine C., Sebastian, Anne Lorraine B.
• Format: text
• Language: English
• Published: Animo Repository 2002
• Subjects: Pillows > Philippines; Handicraft > Philippines; Industrial management > Philippines; Marketing > Philippines > Management; Production management > Philippines; Business enterprises > Philippines > Finance; Personnel management > Philippines
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/14851
• Institution: De La Salle University

After ten months of operations, PAL-Z Incorporated has proven to be worthy of recognition as one of the most profitable business ventures. Though problems were encountered and projections were overstated, PAL-Z Inc. and the PRACTICUM Program have not only bestowed the incorporators ample financial returns, but such also turned out to be a pleasant learning experience for all. Comparing the actual performance of the group with the projections made, there were a number of significant discrepancies. In Marketing, October, April and May were tiring months of low sales, but the company was able to bounce back in the months of November, January and June. Production had variances of its own. Projected outputs were not reached because it was primarily computed on the basis of maximum capacity and 9 group members. The group was not able to attain that highest level especially with its ninth member. The financial aspect of the company indicates the sound financial return of the venture with 161.36% return on investment. The Human Resource of PAL-Z Inc. also had differences but only in terms of organizational structure, but policies and guidelines planned were implemented. The group utilized differentiation strategy instead of the differentiated-focus strategy. Focusing on the target niche who are not so responsive and at time inaccessible, at the start of the operations of the company, could have just contributed problems to the company. Using the four P's of Marketing, the company was able to utilize tactics such as coming up with a lot of designs of the PongTulog, pricing strategies, promotional tools, as well as strategizing on distribution channels. Aspects of the Production also gave way to a lot of strategies especially with quality of raw materials, plant site location, subcontracting, etc. Financial strategies utilized include separate pricing and costing scheme for the pillow, comforter and shell. Some of the Human Resource strategies implemented are policies such as working hours, quality of work, health, safety and security. The group was challenged by a lot of problems and each of them was taken as a learning experience that tested the group's ability to make crucial decisions. Marketing was able to give solutions to the problems in packaging, access to market, and rejects. Production was able to handle the challenges of meeting the high demands of the product, changes in the available machines and raw materials, storage, and price increases in raw materials. Finance Department was able to handle the problems encountered such as delays in submission of financial statements due to conflicts with Academic requirements and other money handling problems. Human resource was also challenge by problems such a sudden change in the number of incorporators, conflicting schedules, and rigid skill inventory at the beginning of the program. The group has shown its concern for the society by initiating activities for the less fortunate. Every term, they visited Kanlungan sa Erma, a home for street children of Malate. On the first term, they also co-sponsored with the Student Council of De La Salle University a livelihood program. In an activity entitled Pillow Making the group sent one member to teach housewives of Barangay 91 Pasay Libertad on how to make pillows. The group also pursued its promise to be environment friendly by modifying its waste disposal into a profitable endeavor. Though there were problems encountered and some targets left unaccomplished, PAL-Z Incorporated and the entire PRACTICUM experience bore fruits of not merely financial returns but lessons learned as well. Specific to the product PongTulog, the group learned that personal selling is more effective and mere fliers are not, because consumers prefer seeing the actual product. there is a need to invest on promotional tools to be able to capture the target market. Survey results that are properly and faithfully extracted can still be very deceptive at times, but such should not stop the company from investing in market research. Values of cooperation and teamwork, equality, honesty, perseverance, patience and dedication, quality of work, alignment of objectives and public relations are all seen to be pertinent to the success of a corporation. Major subjects as well as those of Accounting, Marketing and Finance were all helpful in making decisions as well as completing the requirement of the program. Time Management was evidently significant especially with meeting the deadlines of submitting different requirements.