Business Organization Types and Project Details

Study Notes

The project requires details on the individuals or entities involved in the project.
Information needed includes: nationality, name, address, ownership percentage, and type of partnership (limited or general).

Identify the type of business structure (single proprietorship, partnership, corporation, subsidiary, branch, etc.).
Provide reasons for the chosen structure.

A single individual owns and manages the business.
There's minimal legal distinction between the owner and the business.
Advantages include simplicity, owner's freedom, direct profit enjoyment, and minimal legal restrictions.
Disadvantages include potential lack of owner management skills, limited employee opportunities, difficulty raising capital, a finite business lifespan, and unlimited liability for the owner.

Two or more individuals form a co-ownership for profit.
A partnership agreement outlines the terms, known as the "Articles of Co-Partnership."
Profits and losses are typically divided equally unless otherwise agreed upon.
Advantages include ease of organization, combined skills and capital, maximized interests, legal status, and tax benefits.
Disadvantages include unlimited liability extended to all partners, a limited lifespan, potential divided authority, and disagreements over major decisions.

Recognized as a legal entity through "Articles of Incorporation."
Operates within the laws of the state and specific "By-laws."
Ownership is typically represented by transferable stock certificates.
Stockholders elect a Board of Directors, who appoint officers to manage the business.
Advantages include limited liability for stockholders, perpetual life (usually renewable after 50 years), easy transfer of ownership, expansion flexibility, and suitability for various firm sizes.
Disadvantages include extensive government regulations and potential high organizational cost.

Specify the proposed number of administrative staff for the project.
Present a detailed organizational chart.
Outline job requirements, specifications, responsibilities, and functions for each administrative position.
Define management terminology.
Include proposed salary rates and benefits for administrative personnel.
Reference relevant sections of the Labor Code of the Philippines for specific information.
List any professional firms contracted for administrative operations, including their responsibilities, retainer fees, and reasons for selection.
Provide proforma contracts with the firms (if applicable).
Demonstrate the availability and sources of administrative personnel to be hired.

Define the chosen management style to guide administrative staff.
State the functions and policies of each administrative department or section within the project.
Outline any intended training, seminars, or staff development programs, including the associated budget.
Enumerate the facilities, equipment, and machinery needed for the Administrative Department.