Cavite State University - CCAT Campus - Library

An Entrepreneurial Development Project (BSBM)--Cavite State University-CCAT Campus, 2010.

Includes bibliographical references and appendices.

The entrepreneurs decided to name the project KOLORETE of BSBM because our necklace, bracelet, and earring product are colorful and fashionable items. The BSBM stands for the entrepreneurs' first name which is B for Bless, S for Shaira, B for Babyruth and M for Mark Daniel.

KOLORETE has a wide scope of product in fashion accessories such as necklace, bracelet and earrings to give varied choices in our target customer. The project focused on the establishing of business engaged in the production and marketing of accessories. It enabled the entrepreneurs to apply management and marketing skill that we have learned for the past years of studying in the university.

The entrepreneurs who operated the business are, BABY RUTH F. ARMADO, BLESS P. ARMINTIA, SHAIRA ANNA R. RIVANO and MARK DANIEL M. RAMOS. The initial capital of Php. 1,200.00 was equally shared by the four entrepreneurs. This amount was used in purchasing raw materials.

An Enterpreneurial Development Project was conducted in one of the entrepreneur's house in Punta II, Tanza, Cavite on November 25, 2009 to February 16, 2010. The production process was conducted twice a week started from 9:00 am to 8:00 pm available from Monday to Sunday in one of the entrepreneur's house. Each proponent knows how to make KOLORETE products such as necklace, bracelet and earrings.

KOLORETE is a partnership type of business. The responsibility was equally divided among the members of the group. The rotation basis among the four (4) proponents as financial, marketing, and production manager was done weekly. The duties and responsibilities were properly delegated to facilitate coordination and control over the activities.

Making this project is the most challenging part of being Business Management Students. Truly, all the knowledge that we have learned from the past 4 years was the key to accomplish it. For us so called "beginners in the business world", establishing an enterprise and putting up a real food business is a hard job. The first thing that we did was to choose a target customer through that we arrived to our product. Entrepreneurs also learned that in a business whether big or small requires an appropriate planning and decision making. The entrepreneurs' unity and dedication to work and improve the product are truly needed. We also learned that customer is the most important aspect of the business. Patience helped a lot to the entrepreneurs since we came up with different ideas regarding our business, products and strategies. We also found out that preparing what product to offer and having who your market are both important. Various management processes and practices especially in planning and controlling involved a lot of decision making.

One of the problems of the entrepreneur in making KOLORETE was about the length of bracelet. Sometimes customers complain that our bracelets are too long or too short for them. The entrepreneurs decided to make different sizes of bracelet so that our customer can choose a bracelet that exactly fits for them. The entrepreneurs also encountered problem in convincing the target customer. Aside from convincing them through the word of mouth, the proponents decided to take pictures of the finished product, made a catalogue and post it in our account in facebook. The customer can easily choose what they want and can easily order the product. In this technique we were able to attract more customers and considered their suggestions about our product.

After establishing this Entrepreneurial Development Project, the entrepreneurs of KOLORETE concluded with the simple phrase "success is predictable" success in the business is not the matter of luck or accident or being in the right place at the right time. Success is as predictable as the sun rising in the east and setting in the west by investing your full time, work hard- really hard and giving a hundred percent dedication to the field of business you choose that will lead you to the winning edge for your business you enter.

The entrepreneurs recommended several aspects to be considered to ensure the success of the business.
1. Setting objectives are important in entering any business.
2. Raw materials, as well as tools and equipment should be ready before the start of the operation of the business.
3. Study the marketplace to determine if there is a demand for the product to avoid problems with regards to distribution of the products.
4. Never stop thinking for the improvement of the product or service you offer.
5. Consider determination as one of the keys to success and the cooperation of the members of the group is a must. With this entrepreneurs can arrive at good decision making to resolve their problems regarding their business. (Chaves 2009)

In English text.