PHILHEALTH

Philippine Health
 TIN
Tax Identification Number
 DTI
Department of Trade and
Industry
 SSS
Social Security System
 BIR
Bureau of Internal Revenue
 SEC
Securities and Exchange
Commission
ENTREPRENEURSHIP
Quarter 2 – Module 8:
BUSINESS
IMPLEMENTATION
Learning Competencies:
• Implementing the business plan
CODE: CS_EP11/12ENTREP-0a-i-18

• Identifying reasons for keeping

business records
CODE: CS_EP11/12ENTREP-0a-i-20
After going through the lesson, you
are expected to:
K: comprehends the concept, underlying
principles, and processes of starting and
operating a simple business;
S: creates a business plan with complete
parts; and
A: adheres the underlying principles in
business implementation.
Business Implementation
 Whether a business is a start-up or already
established, business implementation becomes
the responsibility of all the employees.
Implementation is the process of executing a
plan or policy so that a concept becomes a
reality. To implement a plan properly, managers
should communicate clear goals and
expectations, and supply employees with the
resources needed to help the company achieve
its goals.
How to implement a business plan

Writing a business plan is actually

quite a daunting prospect. Most start-ups
do not know where they will be in one
month’s time, let alone five years. Many
business plans are unrealistic, as people
dream of setting up the next “unicorn”.
“Your business plan has to be realistic.”
Although the list below is not exhaustive, your
business plan should contain a clear outline of the
following:
1. Business proposition
– What is your product/service? Who are your
clients? Who is your competition? How are you going
to sell your product or service?
2. Management team
– Who is your management team – directors, key
personnel and any strategic partners and alliances you
may have?
3. Marketing
– How are you going to promote (marketing,
including market research, and pricing) your product or
service?
4. Staff
– Who do you need to employ and what is your
organizational structure?
5. Operations
– More information about your office premises, and
infrastructure needed, such as IT, website, telecoms, and
similar.
6. Infrastructure
– What is your trading entity, insurance needed, lawyers
and accountants you will be using?
7. Finances
– More information about your profit and loss forecasts,
cash flow, finance needed, and investment opportunities.
Set out your objectives
Once you have your business plan you
should set out your objectives, for example, in
the recruitment industry, some of your
objectives could include the following:

• Secure your first deal within two months of

trading.
• Make one business deal every month from
there on for the first year.
Set tasks to reach your
objectives
Once you have set out your objectives,
consider what tasks need to be completed so
you can achieve these. Assign a person who is
responsible for each step so that roles are clearly
defined and there is accountability in completing
the tasks. Avoid micromanaging people with
detailed explanations of how to complete each
task.
Some generic examples of this could
be:

• Setting up an established company – You

• Finding an office – Office manager
• Setting up internet, phones and computers –
Office manager
• Marketing collateral - Marketing manager
• Recruitment – HR manager Securing new clients
and business - Business development manager
• Opening company bank account – You
• Social media management – Marketing manager
Time allocation
Each task should be paired with an appropriate
time frame for completion. You should be
aggressive, but reasonable with your time
allocation in order to ensure, not just completion
but competent work as well.
For assistance in framing this timescale, create
your own Gantt chart – a helpful tool that shows
how long it will take to complete different tasks and
in what order the tasks should be finished.
Progress and review
You or a member of your management team
needs to be in charge of monitoring each task’s
progress and the completion percentage of each
objective. When delays occur, try to get to the
root of the problem. Did the person responsible
drop the ball? Did he or she have too many
responsibilities to handle? Did a third party, such
as a supplier or the bank, fail to hold up its end
of a deal?
Keep a tab on your finances
Keep reviewing your finances. Are you
hitting your targets? If not, why not?
Implement changes to tackle this. Have a
regular review with your accountant to
manage income, costs and any tax
liabilities. It is so important to keep
disciplined, focused and motivated by
cash flow, even more so in the early
stages of your business.
Join a trade association or
networking group
Business plans are always dynamic. Make
sure you join a networking group so you can
keep up to date with on the ground market
knowledge, connections, and legal and
financial updates. You may need to react
and change accordingly. Don’t get totally
blinkered into your business plan, you
always have to see what is going on around
you.
Guidelines for successful business plan
implementation:
1. Objectives- the entrepreneur should have a clear idea on what
is his purpose of putting up his enterprise.
2. Tasks- this means that the entrepreneur must know what the
tasks are he has to perform in order that his objectives will be
realized.
3. Time allocation- This means that the entrepreneur should have
a timetable or a schedule to follow every task, so that it will be
accomplish on time and realize his objective.
4. Progress- This means that the entrepreneur should monitor the
development of the tasks and the accomplishment of the
objective.
Directions: Make a short/mini Business plan by filling up
the table, make a vision of your business, note this is just a
plan/forecasting base on your ideal business. Please be
guided by the definition of each item discussed in this
lesson.
The following are the basic requirements to
start a business in the Philippines:
• Securities and Exchange Commission (SEC) Registration
- for partnership or Corporation. https://www.sec.gov.ph

• Department of Trade and Industry (DTI) Registration -

for your business trade name. Department of Trade and
Industry Philippines www1.dti.gov.ph

• Mayor’s Business Permit - for getting the license to

operate in the city or municipality and payment of your
local business taxes.
• Bureau of Internal Revenue (BIR) Registration - for
getting TIN, official receipts and invoices,
registering your books of accounts and paying
your national Internal revenue taxes. Bureau of
Internal Revenue | Official Gazette of the
Republic ...www.officialgazette.gov.ph

• SSS, PhilHealth, and Pag-Ibig Fund registration - for

registering yourself or company as an employer
and for remitting your employees’ contribution
together with your employer’s share.
Direction: What are the services offered from the
following offices below?

1. Department of Trade and Industry (DTI)______________

2. Securities and Exchange Commission (SEC)____________
3. Bureau of Internal Revenue (BIR)___________________
4. Mayor’s Office_________________________________
5. Social Security System (SSS)______________________
6. Philhealth____________________________________
7. Pag-ibig Fund__________________________________
Keeping Business Records
Good record keeping can help protect the
business, measure the performance and
maximize profit.
Records are the source documents, both
physical and electronic, that specify
transaction dates and amounts, legal
agreements and private customer and
business details.
Proper business record keeping provides the
business a real advantage over the competition in
different ways.
1. It helps you to manage your accounts, interests, taxes and
working costs effectively.
2. Tells about cash in hand
3. Act as resource for new strategies.
4. Helps in finding solutions for business issues.
5. Tells about the customer service and employee efficiency.
6. Helps in monitoring company growth rate and profit.
7. How your business performs against your competitors.
8. Tells about hidden and unexpected costs.
9. And most of all it is the most resourceful adviser whenever your
business is in serious trouble.
Assessmen
t
Directions: Now that you are finished accomplishing the
module, let us check what you have learned. Choose the letter
of the correct answer and write in in your answer sheet.
1. Which office will you go to register your single owned
business?
A. SEC C. BIR
B. DTI D. Mayor’s Office
2. Which office do you visit to register partnership or
corporation business?
A. SEC C. BIR
B. DTI D. Mayor’s Office
3. To secure Tax Identification Number (TIN), which office will
you go?
A.SEC C. BIR
B. DTI D. Mayor’s Office
4. SSS, Philhealth and Pag-ibig fund contributions is made by _________.
A. Employees only C. Both Employees and Employers
B. Employers only D. None of the choices

5. Which of the following is not a step to follow before operating a

business?
A. Register your business
B. Set up accounting system
C. Advertise the business using Facebook
D. Selling the product

6. Which of the following is true?

A. Good record keeping is not important to the business owner.
B. Good record keeping is important only to the accountant.
C. Good record keeping gives benefits to the enterprise.
D. Good record keeping gives no importance at all.
7. Which of the following is NOT a benefit to the enterprise?
A. Plan and work more efficiently.
B. Meet legal and tax requirements.
C. Can check if the business is doing well.
D. It cannot protect the rights of the owner.

8. The objectives of the entrepreneur should be _______________.

A. Specific and clear B. Specific and long term
C. Short and blurred D. Long and not specific

9. The tasks before operating the business must be _____________.

A. Specified to be accomplished by the owner alone
B. In detail so that the owner will know what to do
C. Kept by the owner for future reference
D. None of the choices
10. The tasks to be accomplished before operating the business
should have:
A. Design C. Time allotment
B. Decoration D. Measurement

11. Which of the statements is true?

A. Before starting a business, the entrepreneur may not consult
a professional for advice.
B. Before starting a business, the entrepreneur should consult a
professional for advice.
C. Before starting a business, the entrepreneur must start
selling are available buyers.
D. None of the choices
12. To register your Business Trade name is done in the office of?
A. SEC C. Mayor’s Office
B. DTI D. Philhealth Office
13. The sources of documents are called?
A. Income statement B. Balance sheet
C. Record D. Record Keeping
14. Which of the following is not a benefit of record keeping?
A. It will not help in managing potential risks.
B. It will measure profit and performance.
C. It will protect the rights of the owner.
D. It will not let you know how much you are earning.
15. Which of the following statements is true?
A. Professional advice is only needed before starting the business.
B. Professional advice is needed all throughout the life of the bus
C. Professional advice is made only by consultants.
D. Professional advice is only a waste of money.
KEY ANSWER
1. B
2. A
3. C
4. C
5. D
6. C
7. D
8. A
9. B
10. C
11. B
12. B
13. D
14. A
15. B
ASSIGNMENT
Give some thoughts of the statement below.

“Proper business record keeping provides

the business a real advantage over the
competition in different ways.”
THANK YOU :)