...Introduction Philippines economy nowadays portraits a good start for, as we are lifting our country from the previous economic situation. Not including the whole world economy, we are experiencing a smaller amount of problems in our economy than the recent. The rate of exchange between our Peso against the Dollar is going stronger from now and as some bank company said that it could reach as high as ₱37.50 in the next year. This is worthy for our country that it could raise the percentage to lessen the financial crisis and issues of our economy here in the Philippines. However, this could also mean that some other Filipinos, who are contributing a lot in our economic growth, will be at an edge of helping themselves to this “firmer peso”. Food producers and exporters alone, from the ₱37.50-to-the-dollar exchange rate could cost them around $30 million to $40 million this year, which are exporter loss around $100 million. This is the case that food exporters and local food producers worrying about the stronger peso against the dollar. They will also lose their competitiveness against the other Asian country that may cause severe unemployment, closures of factories, flooding of cheaper imported goods in the local market and other social problems and unrest. Besides, the appreciation of the peso may harm also the overseas Filipino workers (OFWs) and their families, business-process outsourcing (BPOs) firms and foreign investment in general. These segments are the prime carrier...
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...schoolchildren with US$5 million for farm-to-school meals. 2. What do you think this reading is about (what is the topic and main idea of each)? Topics: Difficulty in helping people in Gaza: The World Food Programme (WFP) has tried to bring aid to northern Gaza many times but repeatedly failed. Humanity crisis: Due to the situation in Gaza, many people are dying because of starvation and severe malnutrition. This highlights the need for urgent aid delivery. International support: Many countries tried to help people in Gaza...
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...and businesses for transportation, storage and communication, public administration, defence forces, finances services and social security (Philippine Statistics Authority, 2015). Industry sectors contributes 31.2% of the total GPD (Central Intelligence Agency, 2014), which contains manufacturing, construction, mining and production, and power production (Advameg, Inc, 2015). The leftover of 11.3% of the total GDP came from Agriculture (Central Intelligence Agency, 2014). Many years ago, Agriculture was once the main contributor to Philippines’s GDP. However in the last ten years there is an increase in other industries like production for apparels, ship building, electronics and semiconductors. Primary exports of Philippines are mainly conductors and electronic merchandise, transportation tools, garments, copper merchandise, crude oil merchandise, coconut oil, and fruits. Having major importers like China (23%), Japan (13%), United States (12%), Hong Kong (9.8%), and Singapore (5.4%), Philippines can potentially benefit from them by having almost the same GDP growth if these countries that Philippines exports significantly to are holding strong GDP growth as well (Alexander Simoes, 2015). Over the years, the rise in number of Filipinos working overseas have significantly boasted their country GDP growth (BANYAN, 2010). The Philippines was recently being seen as a newly industrialised country and rank at number 40 in terms of the largest economy within the world and is among...
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...RESEARCH on SUCCESS and MANAGEMENT of ‘JOLLIBEE FOODS CORPORATION’ and its SUBSIDARIES Prepared By: Date: May 3, 2012 Table of Contents 1. INTRODUCTION 3 2. ANALYSIS OF THE COMPANY’S STRATEGIES and MANAGEMENT 4 a. The Financial Statistics 4 b. The Problems and Challenges 5 3. EVALUATION & CONCLUSION 8 WORKS CITED 10 1. INTRODUCTION Jollibee Food Company was established after the oil crisis hit the ice-cream prices since the family company was mainly based on ice-cream production and sales. After Jollibee, one member of the family, decided to diversify into sandwiches; the product started to gain popularity. “The Tans’ hamburger, made to a home-style Philippine recipe developed by Tony’s chef father, quickly became a customer favorite. A year later, with five stores in metropolitan Manila, the family incorporated as Jollibee Foods Corporation.” (Bartlett, 2001) The rapid increase in the number of stores after such a short period indicated how successful Jollibee’s decision has been. In three years, the number stores were doubled and Jollibee had 11 stores. However, together with this success, the problems also started to arise. The entrance of McDonalds into Philippines market was one of the main problems that Jollibee had to deal with. In 1986, when this battle was finally over, Jollibee had reached the number of 31 stores indicating the success of the company’s strategy. After the success of company in the country was proved...
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...Possible Effects of Implementing Jatropha Biodiesel as Alternative for Petroleum Diesel in the Philippines Introduction The Oil Problem: High increases of prices of different commodities and services can now be observed in the Philippines. These increases are due to different factors such as catastrophes and global economic crisis. The government’s job is to find a way to address these problems. The most constant of these two is global economic crisis which is affected by crude oil price increases. Crude oil price affect different things that are important to the lives of Filipinos. It affects the price of food, utilities, price and many more that rely on the energy and transportation that crude oil can provide. Crude oil basically comes from fossil fuel. Fossil fuels are formed through the decomposition without oxygen of dead organisms. Fossil fuels take millions of years to form but are being used fast. Most experts say that it will only take about 50 years for the fossil fuels to be depleted. As it becomes closer to depletion, its price will surely increase as the basic rule of economics states. The only way to cope with low supply but high demand is to increase its price. The Solution: There are many possible alternatives for fossil fuels as source of energy but the use of biofuels is the most favourable since it is cheaper, renewable and degradable or has use compared to other alternatives. Biofuels are fuels which energy is derived from biological objects...
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...Executive Summary Planning of economic policies & their implementations are the most vital facts of a country. Overall development of a country largely depends on economic policy design & its proper implementation. Every country has its own economic policies & specific way of their implementation. But some policies are same for all countries such as Fiscal Policy, Monetary Policy, etc. Philippines, as a developing country has set various economic policies & strategies over time with a view to seeking development. In course of time it has adopted a wide variety of economic policies, many of which had long term effects (both positive and negative impacts) on the lives of its people. The crucial policies that the government of the country adopted over time are – Fiscal policy, Monetary policy, Income distribution strategy, Government policy, Tax policy, Trade policy, etc. The impacts of these policies have had widespread effects on various macroeconomic variables of the country. Various surveys and reports show that the economic growth has not been as expected. Growth of the variables has gone at a slow pace. GDP increases over time but with a high fluctuating rate. Rate of educated people, standard of health care, standard of living have improved but it is still poor in comparison with other countries of the region. It is one of the countries whose economy is based on agriculture. A huge portion of the country’s GDP comes from agriculture. But yet it has some major constraints due...
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...domestic tourism. As reported by the WTTC, tourism grossed US$566 billion in world visitor exports and created employment for 73.1 million persons in the year 2000. Hotel and Restaurant Management is a program which emphasize the importance and significance of services. It has major courses like baking, culinary arts, international cuisine, banquet and catering, housekeeping, food and beverage procedures, management, front office, events management, food sanitation procedures, food control system, hospitality planning and design, tourism, cruise line and etc. Some universities offer the program with such course specializations. But this university hasn’t yet offered course specialization in Hotel and Restaurant Management. According to the Department of Tourism, international arrivals in 1999 stood at 2.17 million, a slight increase from the previous year’s total of 2.15 million visitors. Despite the economic crisis suffered by its Asian markets, the Philippines’ foreign exchange receipts from tourism went up by 5.83% from $2.41 billion in 1998 to $2.55 billion in 1999. Moreover, the Philippines enjoyed the highest repeat visitors in Asia at 54.22 percent, indicating that the tourism sector can...
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...Global Economic Crisis The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead. The current financial crisis is the worst the world has seen since the Great Depression of the 1930s. For younger generations, accustomed to mild recessions of the new phase of globalization, the misery of the Great Depression is hitherto nothing more than a distant legend. However, the collapse of two Bear Stearns Hedge funds in summer of 2007 exposed what came to be known as the subprime mortgage crisis, reintroducing the world to an era of bank failures, a credit crunch, private defaults and massive layoffs. In the new, globalized world of closely interdependent economies, the crisis affected almost every part of the world, receiving extensive coverage in the international media. “In an Interconnected World, American Homeowner Woes Can Be Felt from Beijing to Rio de Janeiro,” observed the International Herald Tribune at the onset of the crisis. “Chinese Steelmakers Shiver, Indian Miners Catch Flu,” noted...
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...Management Research on Success and Management of ‘Jollibee Foods Corporation’ and Its Subsidaries In: Business and Management Research on Success and Management of ‘Jollibee Foods Corporation’ and Its Subsidaries RESEARCH on SUCCESS and MANAGEMENT of ‘JOLLIBEE FOODS CORPORATION’ and its SUBSIDARIES Prepared By: Date: May 3, 2012 Table of Contents 1. INTRODUCTION 3 2. ANALYSIS OF THE COMPANY’S STRATEGIES and MANAGEMENT 4 a. The Financial Statistics 4 b. The Problems and Challenges 5 3. EVALUATION & CONCLUSION 8 WORKS CITED 10 1. INTRODUCTION Jollibee Food Company was established after the oil crisis hit the ice-cream prices since the family company was mainly based on ice-cream production and sales. After Jollibee, one member of the family, decided to diversify into sandwiches; the product started to gain popularity. “The Tans’ hamburger, made to a home-style Philippine recipe developed by Tony’s chef father, quickly became a customer favorite. A year later, with five stores in metropolitan Manila, the family incorporated as Jollibee Foods Corporation.” (Bartlett, 2001) The rapid increase in the number of stores after such a short period indicated how successful Jollibee’s decision has been. In three years, the number stores were doubled and Jollibee had 11 stores. However, together with this success, the problems also started to arise. The entrance of McDonalds into Philippines market was one of the main problems that Jollibee had to deal...
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...Cindy Dela Paz Behind the Success of Jollibee Foods Corporation Submitted to : Sir Bryan Gonzalez Table of Contents Introduction…………………………………………………………. Body ………………………………………………………………………. a. The Financial Statistics………………………………………………… b. The Problems and Challenges……………………………………. Evaluation and Conclusion…………………………………………………….. Biblioraphy…………………………………………………. Introduction When we talk about fast food, what’s the first word that flashes in our minds? Here in the Philippines, when we’re talking about fast food chains, Jollibee itself is the first that comes up to our minds. Jollibee is a very well-known fast food chain and it is the largest fast food chain here in the Philippines. Jollibee is known as registered trademark. We all know that Jollibee is a food chain, but did we know where Jollibee came from? When? Why it becomes so successful? Jollibee started in the poor Caktiong Family from Southeastern China and immigrated to the Philippines for a better work to live their life. So like the other Filipino families who went or migrated to other countries for their living. Jollibee Foods Corporation or JFC was established after the oil crisis hit the ice-cream prices. “From modest beginnings to the top of the world” are the words that succinctly sum up Tony Tan Caktiong’s story, today president and CEO of Jollibee® Foods Corporation, the biggest fast food restaurant chain in the Philippines. At his age of 22, inspired by a visit to an ice...
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...because it suggested luck and prosperity. Little did they know that this business would flourish though hard work, dedication, and an uncompromising commitment to total customer satisfaction, Goldilocks is now the largest Filipino-owned bakeshop chain in the world. As a true global brand, it has expanded to more than 420 stores in the Philippines and overseas markets, and now employs a workforce of over 2,000 people. Likewise, the opening day total sales of P574 back in 1966 have multiplied thousands of times over. Perhaps more impressively, generations of Filipinos consider Goldilocks not only as a brand, but a time-honored family tradition. Now celebrating its 47th year, Goldilocks continues to strengthen its position as a genuine Filipino Icon. Goldilocks Bakeshop Inc. is an entrepreneurial success story that started in 1966. They captured the hearts of the Filipinos with their “thoughtful” campaign and various other marketing strategies. The year 1995, appointment of ex-San Miguel executive Winston Marbella, saw to the professionalization and aggressive expansion of the company. A few years after in 1997, Asia suffered a regional crisis that caused an economic slowdown. Companies are getting tighter as much as the consumers’ hold on their money. Agnes Buendia, marketing manager of Goldilocks, is to propose a marketing budget for the next two years that would be appropriate given this situation. II....
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...many researches were devoted on these topics and issues; the government has also introduced reforms like reforms in tax administration, value added tax (VAT), expanded value added tax (E-VAT), procurement reforms, the medium-term expenditure framework (MTEF), accounting reforms, re-engineering the bureaucracy program (REBP), transforming local finance, and many others. Fiscal policy refers to the "measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals."[1] In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there have been improvements in the last few years.[2] The Philippine government’s main source of revenue are taxes, with some non-tax revenue also being...
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...PhilippinesEconomic Overview of Philippines “One aggregate indicator of robustness and the most off-cited would be GDP growth performance which gives an aggregate impression of the business environment of a country.” (Plummer, 2009) The Philippines narrowly qualifies as a lower middle-income country based on the World Bank’s classification. With its sound economic fundamentals and trained workforce, the Philippines has been among the dynamically emerging markets in the region. Growth in the Philippines is on average about 5% since 2004, significantly greater than the rate achieved in the past two decades. (The World Bank, 2014) Despite the global economic downturn, Philippines has slowed down the impact of recession due to the low reliance on exports, relatively resilient domestic consumption, high amount of remittances from a substantial number of Filipino labour, and a fast growing business process outsourcing industry. (Central Intelligence Agency, 2014) 1.1 Production Output Performance Analysis According to the Real GDP data computed by World Bank, the Philippines has maintained a relatively stable pattern of growth since year 2005. However, in year 2007, there was a sharp decline in the real GDP from near 7% to close to 1%. This could be due to the World Financial Crisis, which resulted in the negative impact on the Philippines economy. The country’s sluggish domestic investment and its declining share in GDP had only started to recover and pick up...
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...JOLLIBEE FOODS CORPORATION: INTERNATIONAL EXPANSION ------------------------------------------------- By Group 4 CASE BACKGROUND Jollibee Foods Corporation (JFC) is the most successful fast food chain in the Philippines. It started out as an ice cream parlor owned by the Tan family, headed by Tony Tan Caktiong (TTC) as President. Brought about by oil crisis which doubled the price of ice cream, JFC diversified into hamburgers in the year 1977. Jollibee’s philosophy is epitomized by “Five Fs” – Friendliness, Flavorful food, Fun atmosphere, Flexibility in serving customer needs, and Focus on families. Though it began as a family business, eventually, it went public in 1993. JFC expanded its business through acquisition of other food chains but Jollibee stores remained the bread and butter of the parent company, contributing 85% of total revenues. Jollibee had grown quickly having a total of 223 stores worldwide by the end of year 1997. Jollibee ventured into overseas expansion attempts since 1985 but were mostly unsuccessful due to location and partner issues. In 1993, TTC hired an Australian national Tony Kitchner (who was the former VP for International Operations in Pizza Hut for 14 years), to lead JFC International Division in order to push its international presence at full throttle. Tony Kitchner initiated many drastic changes in the division from modifying office design and dress code to pushing aggressive expansion strategies and rebranding Jollibee’s image offshore...
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...higher the profitability of a firm will be. Managing assets are assessed periodically as the basis of information. Each period is to be compared to determine whether companies have to alter their management, concerning asset management during times of crisis. Companies now days have to find another ay to gain assets because without financial resources, companies cannot survive in these turbulent times or even in normal circumstances. This study will provide a quick view of how manufacturing companies in the Philippines manage their assets during crises and non-crises period. Researchers have studied utilization of financial resources in different ways. Some authors have studied the impact of asset utilization during non-crises period only. Here, the study focus not only in non-crises period but also during crises period because there are no studies done about the relationship between utilization of financial resources and firm’s profitability during crises periods within the Philippines and also it allows a comparison between those periods which could indicate whether manufacturing companies in the Philippines have to alter their asset utilization when the economy is close to a recession. Background of the Study The Philippine Economy is faced with several factors which could hold back the rate of having a huge return on the financial...
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