Luceat Learning Centre

Presented to the
Accountancy Department
De La Salle University - Manila

In partial fulfillment
of the course requirements
In ACCCOB1

Ocampo, Jocef Fernand - Leader

Caguimbal, Isabel
Parra, Glenn Thomas

K38
Group 5

Submitted on:
September 26, 2020

Submitted to:
Dr. Marivic Manalo

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 Table of Contents

Title Page 1

Table of Contents 2

Chapter 1: Background of the business

1.1 Name of Partnership 5
1.2 Names and addresses of the partners, classes of partners 6
1.3 Effective Date 6
1.4 Purpose and Principal Place of Business of the Partnership 6
1.5 Investments of Each Partner 8
1.6 Rights and Duties of Each Partner 9
1.7 Allocation of Profits and Losses 10
1.8 Condition for Withdrawal of Assets 10
1.9 Manner of Keeping Books of Accounts 11
1.10 Dissolution Decision Making 11
1.11 Arbitration in Settling Disputes 11
1.12 Detailed Description of the Product 11

Chapter 2: Partnership Strategic Planning

2.1 Vision Statement 14
2.2 Mission Statement 14
2.3 Strategic Objectives 14
2.4 SWOT Analysis 15
2.5 PEST Analysis 16

Chapter 3: Partnership Management Planning

3.1 Organizational Chart 20

Chapter 4: Partnership Marketing Planning

4.1 Target Market 24
4.2 Location Place Strategies 24
4.3 Promotion Strategies 25
4.4 Projected Service Revenue 28

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Chapter 5: Partnership Operations Planning
5.1 Design of Services 31
5.2 Quality Management 31
5.3 Process Strategy 31
5.4 Store/Office Layout 32
5.5 Human Resources 32
5.5 Scheduling and Maintenance 33

Chapter 6: Partnership Financial Planning

5.1 Chart of Accounts 36
5.2 Forecast for First Year of Operations 37
5.2 Forecast for Second Year of Operations 40
5.2 Forecast for Third Year of Operations 43

References 46

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1.1 Name of Partnership:
Luceat Learning Centre

Origin of the Name

The name Luceat comes from the Latin word for shine. This was chosen as the name of
the business as the main purpose of Luceat Learning Centre is for its clients to shine in the field
they are in. Although a different language, the name exuberates eloquence and excellence, this
being the intention. Through this, the outcome of the services of the business are aligned with
its name as shining is truly manifested in positively standing out.

Inspiration for the Logo

The Logo shows the name of the business, where A is highlighted to symbolize getting an
“A+”, which is a perfect grade in educational institutions, where the color is of a touch of brown
to symbolize reliability. This is because remarkability in the eyes of the founders makes people
shine and the business is meant to be a reliable partner in striving for greatness. It can also be
observed that the letters are encased in a box to represent a classroom setting as, similar to
schools, the business refines the inherent qualities of its clients. To put simply, the logo implies
that partaking of the services of Luceat Learning Centre would allow its clients to stand out whilst
exhibiting their inherent brilliance.

Motto:

The motto of the business is Discendo Discimus which directly translates to “by teaching,
we learn”. This was chosen as it embodies the dedication that the partners would want all its
employees and customers to feel. Learning is indeed of utmost importance in the world we live
in. It does not stop once we graduate from the educational institutions we were part of as in
every step of life, we can learn. In this regard, the business gives importance to the essence of
teaching. With this, the school uses different pedagogies in its vast array of subjects, but the

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motto is inculcated in each one of these services. This is because through teaching the student
and the teacher both learn, creating a culture of knowledge creation for both parties.

1.2 Names and addresses of the partners, classes of partners

The business is a partnership formed by three businessmen who met in college. They all
deemed themselves as general partners to the business, making it a general partnership.

Names of Class of Position

Address
Partners Partner

Chief
General
Isabel Caguimbal Manila, Philippines Operating
Partner
Officer

Las Pinas, General Academic

Jocef Ocampo
Philippines Partner Superintendent

Las Pinas , General Operations

Glenn Parra
Philippines Partner Manager

1.3 Effective Date of Partnership

On January 1, 2030, the Luceat Learning Centre, a general partnership, was formed by the
general partner Jocef Ocampo and his co-partners Isabel Caguimbal and Glenn Parra, both silent
partners. The contents of the contract were designed and discussed the year prior, where
several meetings were held before the effective date of the partnership. With this, operations
also began on the same day as the business is deemed 100% operational with all of its services.

1.4 Purpose and Principal place of business of the partnership

Purpose
We spend so much money, time, and effort in trying to find the institutions that would
provide us with the best quality of learning. This is because education is one of the most
important investments that we make in our lives. It is a determinant on the outcome of our future
and it provides us with the necessary skills to be informed at all times through research and
development. However, we have hurdles in our lives that we can’t always escape.

In the year 2020, a full 10 years before the effective date of the partnership, the partners
were all students in one of the best universities in the Philippines: De La Salle University. With
this, everything seemed well until the COVID-19 pandemic arrived, causing deaths of people,

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industries, and even education for some. The partners at the time were friends and classmates
and, as a result of the pandemic, were mandated to adjust to online learning. Right off the bat,
the partners understood that this is an opportunity for something big. Online learning indeed is
the future. It is cost efficient as there are no sunk costs and maintenance costs while essentially,
it is meant to provide a high standard of learning due to students being given responsibility to
manage their respective time. However, the partners themselves had difficulty learning because
they were not used to online learning. They would be easily distracted and they would
procrastinate requirements, making them more stressed each day.

At this point, the partners realized that online learning, if properly utilized, could lead to
a mass transfer of education, while being a source of income that would benefit the economy.
They realized that a business could be created that would revolutionize the way information is
transferred, where efficiency of cost, time, and effort would be maximized. This paved the way
for Luceat Learning Centre because the partners knew that they could find teachers who could
impart information services online that would cater to a wide market. The purpose of this is to
make them shine in their own respective fields by utilizing and maximizing the potential of online
learning to impart knowledge and wisdom to customers. With the intent from starting with
children, the business wants to create active social change by ensuring that there will be a culture
of learning through online means. This means that although the business also caters to older
students, the purpose of the business is achieved by inclusive targeting which will be further
discussed in the target market portion of the paper.

Principal Place of the Business of the Partnership

The principal place of the partnership is a rented commercial room in Makati City.
Although the teachers and other employees would be working from home, the office would be
used by the partners in holding office, keeping records for future use, and conducting business
meetings, where the location is strategic as it is close to their jobs in Ayala. With this, the room

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would be on the third floor of the Manalo Towers, where the rent is affordable at around 25,000
pesos per month. Currently, the space is large enough to house three offices, one for each
partner, and an open area for all desk employees in the company.

1.5 Investments of Each Partner

At the onset of the business, each partner provided a significant amount of capital to fuel
the business venture. With this, the investments each partner will make may be in the forms of
contributions or investment of cash, non-cash assets, or industry.

Specifying this further, cash refers to money while non cash assets will include midrange
to high-end laptops, tablets such as iPads, microphones, and high quality webcams. Given that
these assets are brand new, the depreciation rate will be provided accordingly. On the other
hand, industry simply refers to the service they offer to the business operations. The table below
shows the investments of each partner.

Name of Property Total

Cash Investment Industry
partners investments Investment
Isabel
200,000 100,000 Yes 300,000
Caguimbal
Jocef Ocampo 200,000 100,000 Yes 300,000
Glenn Parra 200,000 1000,000 Yes 300,000

The partnership will have a total capital of 900,000 php, this will consist of both cash and
property investments. The majority of the investments will be in the form of cash. All Partners
will invest cash worth 200,000, and property investments worth 100,000. The bulk of property
investments will be used for the purchase of shop equipment, this will amount to 250,000 php,
while the rest of the 50,000 will be used for the purchase of furniture and fixtures.

Depreciation of non-cash assets

Non cash asset Annual depreciation

Shop Equipment 25,000 php per year
Furniture and Fixture 5,0 00 php per year

The table above shows the rate of depreciation for all non-cash assets that the partners
have invested into the business. All non-cash assets will have a depreciation rate of 10% per year.
All partners agreed that the straight line method of depreciation, in which the actual cost will be

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subtracted from the salvage value, divided by the assets useful life was the most appropriate in
adjusting for the said expense.

1.6 Rights and Duties of Each Partner

The Partners have agreed on the following terms and conditions with respect to their
rights and duties in the partnership. All rights and duties were derived from the civil code of the
Philippines, particularly articles 1767-1867.

Right to participate in business- All partners have an equal right: Each partner shall be
able to have a share in conducting and contributing to the business.

Right to share profits. Partners – Partners have a right to a fair profit distribution
depending upon the total amount invested into the company by each partner.

Right to co-ownership of all partnership property - All partners have equal rights to all
specific property in the partnership used for the purpose of carrying on the regular course
of business.

Right to inspect partnership books - The books of the partnership shall be kept in the
usual place of business, which is accessible to all partners. All partners have an equal right
to inspect said books at a reasonable time.

Right to Freedom of expression - Partners are allowed to express disinterest or

judgement in current and future business decisions wherein the right should be used with
respect and with the best interests of all partners.

Right to decide - Major decisions made by the business partners should be made through
a majority vote of two (2) partners and above. Freedom of expression and mutual respect
shall be applied in ordinary matters that involve the business.

Duty to use the firm’s assets properly - Partners shall solely use the assets of the business
exclusively for business related purposes and not for private or personal use.

Duty to not earn personal profits or to compete - Partners must be able to abide by the
right to share profits wherein profits shall be distributed fairly to each partner. Partners
should not take part in other competitive business activities or ventures.

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 Duty to render all information to partners - There must be no concealment between
partners when it comes to partnership affairs. All partners have a duty to render true and
full information of all matters affecting the partnership.

Duty to not engage in similar business for personal gain - All partners have a duty to
invest all their time and effort in the partnership. They are prohibited from engaging in
businesses similar to the partnership for personal gain, and would prove to be prejudicial
for the partnership.

1.7 Allocation of Profits and Losses

The distribution of profits and losses for Ocampo, Caguimbal and Parra is 3:3:3,
respectively. Ocampo, being the managing partner shall receive an equal share in profits and
losses this is because even if he is highly skilled with economics and management acumen, the
partners all agreed that for the benefit of each of the partners due to their needs, there should
be equal distribution. This means that Caguimbal and Parra will have the same amount of shares.

1.8 Condition for Withdrawal of Assets

The following are instances in which partners can withdraw money and other assets from
the partnership.

1. Upon realization of net income

- Partners may withdraw money upon the realization of net income by the partnership.
This will serve as the partners share in the profits of the partnership.

2. Upon realization of surplus

- Upon the agreement of the majority, Partners may withdraw excess assets for personal
use, as long as it is not detrimental to partnership activity.

3. Payment to third party creditors of partnership

- With the consent of all partners, A partner can withdraw partnership assets to serve as
payment to the creditors of the partnership.

4. Payment to the individual creditors of partners

- Without prejudice to partnership creditors, individual creditors of all partners can
demand for the share of the latter in partnership assets, hence a partner can withdraw
his/her individual share to satisfy his creditors, as long as it is not prejudicial to the
partnership itself

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1.9 Manner of Keeping Books of Accounts

The manner of keeping the books of accounts shall be correctly recorded including the
details and explanations of any major undertaking of the company with great accuracy in order
to measure and identify the company’s position on a yearly basis. All accounts should be easily
utilized for auditing purposes and to be consistent in regards to timing and adherence to
appropriate laws and regulations implemented by DTI and its related agencies. The company shall
preserve its accounting records for at least three (3) years from the date of the company’s fiscal
year end date and all records shall be kept both with its original copy and its electronic copies or
records.

1.10 Dissolution Decision Making

Decisions of partners shall be made through by the agreement of all partners by holding
a vote, should there be less than two (2) partners who chooses to dissolve the partnership, a
dissolution by notice shall be used in order to state his or her intention of dissolving the company,
under the provisions that the partner with the intent has had performed his or her duties
accordingly and with a greater share in the company. Should there be contingencies which may
include the death of a partner, dissolution of the company shall take place.

1.11 Arbitration in Settling Disputes

Arbitrary provisions within the firm’s contract held by all partners shall be made known
and made aware of in order to know possible resolutions and methods in solving disputes without
having to reach the courts. Arbitration shall have an effect wherein the arbitrator’s decision will
be legal and binding. Partners shall be able to enjoy confidentiality in order to safeguard their
name or influence the company without having to deny them of their leverage in internal affairs.
Should there be a dispute with any of the partners and their clients that does not involve
commercial disagreement or contention, an alternative to arbitration shall be litigation.

1.12 Detailed Description of Product

Given that Luceat Learning Centre aims to make its clients shine, the business offers a
service as its “product. This is an online tutorial service to students which may be further divided
into three categories, seen in the next page.

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Traditional Tutorial Services
Luceat Learning Centre offers services for pre-school to college students. With this,
college courses would include advanced topics on the sciences, economics, business, liberal arts,
computer studies, and engineering. High-school and grade-school courses would include basic to
advanced Math, Science, Languages, and History. Lastly, the pre-school classes offer preparatory
subjects to the basic course requirements of grade-school. The tutorial would be in the form of
synchronous sessions at the agreed time of both the client and teacher that would clarify and
expound on the learning materials provided once the client applied for the services. There would
then be consistent monitoring on the side of the tutors on the progress of clients through testing
that would be done on the 5th and 10th or the final session. A progress report would be then given
that would state the preparedness of the client regarding what was taught in the service to
provide appropriate feedback. Although these are all used for the three categorized target
markets of the business, in particular the services are:

Pre-School Setting
- In the preschool setting, students are with their parents and are treated as though they
are merely participating in play time. This is because the strategy of the business is to
make online learning seem fun for these students. As such, the business here acts as a
day-care center with hints of tutoring whilst following the general syllabus.

Grade School and High School Setting

- In the grade school and high school setting, students are accompanied usually after their
respective classes. This is supposed to replicate their respective schools, where there is a
classroom setting to induce a learning environment. As such, the business here acts like
a second school that helps them with their school work, following the general syllabus.

College Setting
- In the college setting, students may come at any time. They are treated as adults, where
the tutors may tend to the clients by answering questions on their readings or even
providing support or guidance on the difficult subjects they encounter. As such, the
business here acts like a consultant, where the students may consult their needs and
requirements, where the teacher is using his/her expertise through the general syllabus.

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2.1 Vision Statement

The vision of the company represents the guide that the company will use to create business
decisions that would achieve its current and future goals. With this, the vision of Luceat Learning
Centre is:

It is our vision to reinvigorate the learning system, provide educators with better job
opportunities, and improve the individual learning curve of our clients

2.2 Mission Statement

The mission of the company represents the reason as to why the company exists. This
statement focuses on what the company does to the employees and clients alike. With this,
the mission of Luceat Learning Centre is:

It is our mission to make our clients, employees, and educators alike shine their brightest
light in the field they are in

2.3 Strategic Objectives

The strategic objectives of the company represents the important aspects of the
organizational strategy. These are goals meant to be achieved within a few years from the
onset of operations (3-5). With this, the strategic objectives of Luceat Learning Centre are:

Customer
1. To provide quality services
2. To ensure satisfaction and growth
3. To become a reliable source of learning

Financial
1. To allocate budget and manage costs efficiently
2. To maintain a strong level of profitability
3. To acquire an advantageous debt ratio

Internal
1. To come to work on time
2. To provide necessary leeway for unforeseeable events
3. To be fair in business activities

As seen above, these are divided into three: customer, financial, and internal. Customer
strategic objectives refer to what the company would want to achieve towards the growth
of its customer while financial and internal strategic objectives refer to what the company
would want to achieve for its own growth. These are meant to be relatively attainable so
that they may be updated once they have been achieved.
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2.4 SWOT Analysis

The SWOT analysis of Luceat Learning Centre would show the strengths, weaknesses,
opportunities for, and threats against the company. These would be pivotal in optimal decision
making for the company’s success in its business operations.

Strengths Weaknesses
• Wide range of offered services • Limited capital
• Convenient for employees and clients • Only available online
• Cost efficient • Limited employees and teachers

Opportunities Threats
• Demand for online services • Existing tutorial centers
• Consistent demand for tutorials • Lack of connectivity
• New market to penetrate

The business has strengths and weaknesses towards the services it offers. One strength
of the company is evident due to the variety of services being offered towards different fields of
expertise that would attract more customers. Another strength is the convenient means for
employees and clients. This is because all operations would be done via online means, making
these people able to adjust their schedules for the time they spend. In connection, due to the
online means, another strength is that the cost would be kept low due to a lack of utilities. On
the other hand, The company also has weaknesses due to the limited capital that was provided
by the partners of the business, which limits the financial decisions the company can make.
Moreover, the online set-up may be disadvantageous due to the company not being able to reach
clients who may opt for a physical set up. Lastly, partially as a result of limited capital and higher
salary elsewhere, the company also has a limited number of employees and teachers.

The business also has opportunities and threats to its operations. An opportunity for this
is the increasing demand for online services, especially given that the business would begin
operations in 2030. This is an opportunity as people would be comfortable with the concept and
value of online services, lessening the burden for the marketing team. Another opportunity is the
consistent demand for the tutorials from different aspects due to schools, licensure exams, and
even parenting being otherwise consistent in growth in number. Lastly, the market is open for
penetration due to a lack of restrictions on the opening of online tutorials by different
institutions. On the other hand there are also threats and one of this is the reliable name of other
tutorial centers. Although it will only touch on two sectors being offered by the business, it is a
threat to operations. Lastly, due to the online nature of the business, internet connectivity
problems are direct threats to its success.

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2.5 PEST Analysis

The PEST analysis of Luceat Learning Center would examine the political, economic, social,
and technological aspects that would affect the internal decisions of management. Through the
use of this, the partnership will be able to implement decisions that would maximize
opportunities and while minimizing threats.

Political
• Good governance and decline of
political dynasties (Haydarian, 2020)
• Increased quality of voter education
• Lesser bureaucracy to maximize
business operations and
Social
• Private schools are ready for online
classes (Arcilla, 2020)
• The partnership can focus on catering
its services to private school students
within Metro Manila
• Maximize promotions to private
school students
• Greater probability of attracting
potential clients.
Economic
• Sustainable Development as a long
term recovery plan for Covid-19 (Son,
2020)
• Improved quality of life and increased
income of consumers
• Higher probability of attracting more
potential customers
Technological
• Internet Speed in The Philippines is
drastically improving (Mercado, 2019)
• Investing on high quality equipment
and fast internet connection is a
necessity to deliver quality service
• Utilize improved internet speed by
Maximizing social media for
promotions to establish a strong
online presence and widen the scope
of partnership services

Political
By 2030, the political spectrum of the Philippines will be quite different from today. The
rise of new leaders like Vico Sotto and Isko Moreno, proves that voters are becoming more
educated and less dependent on Political dynasties (Haydarian, 2020). The Commission on
elections have also pushed for a bill that would support voter education in schools, with the
desired long term effect of improving the manner of how voters choose their respective
candidates (Philstar global, 2014). For the growing years to come, It can be said that political
dynasties in the country will lose popularity and eventually leave the government for younger

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and more competent leaders. The so-called “Millennials” would have a greater voice in the
government and would provide a system with lesser bureaucracy. This is would serve as an
opportunity for the partnership, given lesser bureaucracy, the partnership will be able to conduct
its operations with lesser restrictions on permits and taxes. Through lesser restrictions by
government agencies the partnership can maximize its operations and will yield greater revenue
in the long term.

Economic
Due to the on-going pandemic, all prospects of economic growth in the Philippines have
begun to deteriorate, however, the economy is still projected to recover and improve as the years
go by after covid-19. It is projected that ASEAN economies will focus on sustainable development
in order for their economies to recover from the pandemic (Son, 2020). The focus on growth and
development, as agreed by ASEAN countries (Including the Philippines), would allow for the
development of Public health, improved fiscal policies, digitalization and food security. The
radical shift to sustainable policies over the years would improve the livelihood and increase the
income of consumers, The overall long term effect of said policy improvement would be a better
quality of life for Filipino citizens. Through this, the partnership has an opportunity to expand its
market and be able to cater to the needs of more clients. Through sustainable economic
development policies, The partnership has a high probability of attracting more potential
customers, which in turn would generate higher revenue during its startup days. The partnership
will be able to thrive in a sustainable economy upon the start of its operations

Socio-cultural

The specific demographic that the partnership can cater to are those students studying in
private institutions, particularly those within Metro-Manila. According to Arcilla (2020), a
federation of private schools all claim that their systems and curriculum are deemed fit and ready
to implement online distance learning for their students. This particular demographic has a high
purchasing power, a lot of students in these private schools can afford to enroll in online classes
and would most likely have stable internet connection, not only that, but these institutions also
have the technology and the manpower to create strong systems that are capable of serving as

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a portal for online distance learning. Given these, this is the particular demographic that the
partnership needs to focus on targeting. The partnership needs to focus its promotions to be able
to reach out to people in this demographic, by doing this, the business has a higher probability
of attracting potential students who want to avail of their services, because these students come
from affluent families, they are likely to have a higher purchasing power and are likely to be less
price sensitive, hence the higher the probability of attracting consumers in this demographic. In
doing this, the promotions of the business can be maximized, because there is a greater
probability of attracting potential customers. This is an opportunity for the partnership to
maximize its limited sources of income.

Technological

The use of high end equipment to deliver the services of the business would be very effective in
delivering quality service to clients. The use of social media in promotions would also allow the
partnership to minimize its expenses and maximize its reach and be able to establish a strong
online presence. Internet speed in the country has also improved over 143.74% (Mercado, 2019).
A current senate bill to provide additional powers to the National Telecommunications
Commission (NTC) to regulate the monopoly of telco companies and open the Philippines for
foreign telecom companies is also being reviewed (Manila Bulletin, 2020). Improvement in the
overall information communication technology sector, as well as the creation of policies to
improve internet connectivity by opening doors to foreign telecommunications companies is a
major advantage for the business. The overall internet speed is set to improve in the long term,
the partnership can use this improvement to its advantage by establishing a strong presence
online through social media, and also to widen the reach of its services. This will result in a higher
probability of attracting more clients, and with that it can generate more revenue. This will also
serve as an opportunity for the partnership to improve the overall quality of its services.

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3.1 Organizational Chart

The organizational chart below shows the internal structure of Luceat Learning Centre. This
contains the hierarchy, where the roles and committees would be clearly stated to have a clear
flow of directives and responsibilities.

Hierarchy
The COO is considered as the figure head of the business which is to be taken by partner
Jocef Ocampo. Following this, the Academic Superintendent position would go to partner Isabel
Caguimbal due to her masters in education. Lastly, the Operations Manager position would go to
partner Glenn Parra as his bachelor’s degree is under the college of business.

Based on the agreement of the partners, Mr. Jocef Ocampo would be the figure head as
he is a managing partner and under him would be the two other partners. Under Ms. Isabel
Caguimbal are Research and Development and Services, which is composed of 12 employees. On
the other hand, Mr. Glenn Parra is in charge of Marketing, Finance, and HR which are collectively
composed of 3 people. As such, there are 15 employees and three partners in the business.

Job Description

Directly
Position Job Description
Reports to:
The COO is tasked with leading the business. He is
Chief Operating
in charge of overseeing both the AS and OM, while
Officer (COO) – -
finding profitable and advantageous doors for the
Jocef Ocampo
company to grow. With this, he also has to ensure

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 stability while setting the goals that would be
achieved throughout its operating year.
The AS is tasked with directly managing both the
R&D and Services committee. She oversees their
Academic operations and checks if they are performing up to
Superintendent par with the set expectations of the business. With
COO
(AS) – Isabel this, she makes sure that the research committee
Caguimbal would produce important findings for the
company while the service committee would be of
high quality towards the customers.
The OM is tasked with directly managing the
Marketing, Finance, and HR committees. He
oversees their operations and ensures that they
are doing their jobs efficiently. With this, he makes
Operations sure that the marketer is able to market the
Manager (OM) – COO company in accordance with its purpose, the
Glenn Parra finance specialist is able to budget and efficiently
allocate the funds while communicating with the
outsourced accountant, and the HR personnel
handling all human resource issues in the
company.
The researchers are tasked to find teaching
equipment and new trends to incorporate to the
services of the company. They also make sure that
Researchers AS
copyright is properly dealt with, while finding ways
to make sure that the company and the teachers
are performing efficiently.
The teachers and reviewers are tasked to provide
quality education to the clients of the business.
They are supposed to come on time to their
respective sessions while being prepared for any
Teachers &
AS question regarding their specialization that may
Reviewers
arise within their class. Moreover, they have to
maintain a healthy learning environment, while
properly representing the ideals and purpose of
the business altogether.

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 The marketing specialist is tasked with branding
and advertising the business through various
means. He/she must be able to produce creative
Marketing
OM and cost-efficient measures on how to effectively
Specialist
and efficiently market the business while ensuring
that its purpose is still evident in the materials
produced.
The finance specialist is tasked with providing a
budget plan for the business that would be profit
maximizing. He/she is also tasked with
Finance Specialist OM communicating with the outsourced accountant of
the business to ensure that the company follows
government protocols and procedures in its
operations.
The HR personnel is tasked with maintaining a
healthy working environment within the offices,
where the main job is to mediate possible conflict.
HR Personnel OM
He/she is also tasked with uplifting the morale
through recreational activities that would be
monitored closely.

As observed with the chart and table above, it can be seen that the organizational chart
is horizontal and small. This is because the partners want a close working environment that is
often seen with horizontal or flatter organizational charts. Moreover, the number of employees
is small due to the limited capital that was invested by the partners. Looking into the future, the
number of these employees would increase, but the chart would still attempt to maintain a flat
structure to ensure that there would be better communication. In relation, the process of getting
promoted into a higher position would begin once the company begins to grow. With this, the
salaries would be first adjusted before any additional position is created to avoid an increasingly
bureaucratic business. In the same way that increase in salary may occur due to good
performance that positively reflects on the business, termination may also occur due to
insufficient or ineffective performance which would be specified in the signing contracts.

Given this information, it should be noted that partners and all employees would receive
government mandated bonuses and salaries above the minimum wage and in accordance with
their respective position and/or performance. This means that there would be different salaries
even if there are similar positions as these would be based on how good the employees are in
doing their jobs, where there is an incentive for exemplary performance.

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4.1 Target Market

The target market of Luceat Learning Centre are students who are wanting to improve
their academic standing in their respective schools. This may be further categorized into three
main kinds of students. These are students under preparatory school, intermediate school, and
advanced school. In preparatory school, the students are either in nursery or kindergarten. From
this, in intermediate school the students are either in grade school or high school. Lastly, in the
advanced school the students are in the college level. Collectively, these people may be located
anywhere in the Philippines for as long as they have access to the internet. Moreover, these
students are expected to own and know how to operate gadgets such as laptops and cellphones
for academic use. With this, the cost is variated across the levels of difficulty. This allows for
inclusivity as students in the lower batches may have less budget allocated for tutorial services
which means that the target market is not sensitive towards pricing.

4.2 Location Place Strategies

The principal place or headquarters of the company will be located in Makati City,
specifically on the third floor of the Manalo Towers, wherein it is a rented commercial room
which costs Php 25,000 per month. The location of the headquarters is conveniently located in
one of the central business districts (CBDs) in the Philippines (Chan, 2017) and this means easier
access to prime locations such as malls and restaurants with varied modes of transportation
which includes UV Express or FX, taxis, MRT, and busses which includes P2P or point to point
busses. Having to strategically place the principal place in a CBD means that the company is able
to set itself as a premium or a prestige company that offers quality services. It can also imply a
better connectivity and infrastructure compared to lesser commercialized areas. Having been
located in one of the more competitive, populated areas in the city, it can serve as a favorable
impression to potential customers and even investors given the address and location of the
learning center (The Executive Centre, 2018).

Although the headquarters is located in a busy area, marketing or other departments that
do not need direct contact to customers or clients need not be present on a daily basis due to
the change in situation brought by the pandemic. Most teachers or professors who will be
teaching shall also do remote learning or distance learning as per safety standards and protocol
set by the government. While the company is still realigning to the new normal, the company
also accepts positive long term changes and adjustments: based on surveys and research
regarding job satisfaction from the changes due to Covid-19, most employees are benefiting and
are satisfied with their work-from-home set up (Fadilpašić, 2020) as this lessens the time for
preparation and commute to work although this means that employees in the managerial role
have to work harder (Geller, 2020). Once the situation allows the company to return to normal

24
operations, it is only then that company will be able to see and decide on employees that have
to be present in the headquarters daily, and employees who can do their work remotely.

4.3 Promotion Strategies

Promotion strategies are pivotal for the success of the business. Given that this is the first
year of operations, the company will enter into the market, where its initial impression should
be built and founded on the key aspects that represent the goals of the business. This would
ensure a lasting image and a good impact towards possible clients

For promotions and marketing strategies, Social media will be utilized and maximized in
order to reach more people. In approximately 5 years social media users in the Philippines would
increase to 90 million people (Sanchez 2020). According to Kempp (2020), an additional increase
of 8.6% per year has also been reported. Due to high popularity and additional increase in users
every year, Social media is the most practical way of conducting promotions. Through this,
Promotions are able to reach more people and advertising activities can be maximized, apart
from this, the business also plans on creating a website in order to provide greater accessibility
to clients who are interested in availing the services being offered.

One of the Social Media Platforms to be utilized is Instagram. Through the creation of an
Instagram page. An Instagram page is one of the most practical and effective ways for the
partnership to promote its services because of its user-friendly interface and its advertising
platform will greatly increase brand awareness. This is one of the best ways to engage with
potential clients and at the same time maximize the reach of advertising content to a great
number of users. One strategy that can be implemented is through the recruitment of social
media influencers with a minimum number of at least 500 followers. This will allow a greater
exposure of the business and will allow it to gain more followers, this will maximize the
partnership’s online presence and it will be able to broadcast its services to a greater number of
individuals. The said influencers will be tasked to share posts through Instagram stories, by doing
this, the business and its services will be able to reach a new and wider network of individuals
who have the potential to become clients. The recruitment of influencers would also save the
partnership a lot in terms of advertising expenses, because these said influencers are just starting
in their career and the costs would be very minimal. This will allow the partnership to maximize
its reach towards potential clients at minimum costs. A sample Instagram post is illustrated in
figure 1.1.

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 Figure: 1.1 (Sample Instagram post)

The figure above illustrates a sample Instagram story that recruited Influencers need to
share. In doing this, it can reach a substantial amount of Instagram users, and with this increase
the interaction of users with the Instagram page of the business.

Another platform that is beneficial for the business to conduct its promotions is Facebook.
The creation of a Facebook page is necessary in order to reach a higher number of potential
clients. The analytical system of Facebook also offers a robust analysis on posted advertisements
and the number of users who interact with the page, this is crucial in order to understand if the
advertisements of the business are effective. Through the use of Facebook, the partnership will
target potential clients based on their location, demographic and profile. Since the target market
is for mostly students and young professionals, Facebook analytics would allow the partnership
to target a specific group of individuals who have a higher probability of availing its services

26
 Figure 2.2 (Sample Facebook analytics)

The figure above shows an example of comprehensive data analysis shown by Facebook.
It specifies the number of interactions per week through charts and graphs as well as reviews of
the page. Through these types of data analysis, the business can easily make decisions on what
particular demographic to focus on in marketing their services. This will yield a higher probability
of attracting potential clients into business through the use of Facebook.

Figure 2.3 (Sample facebook page cover photo)

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 The Business will also create a website containing its vision and mission statement, a
detailed description of the services that will be offered and also a button or tab that would show
the types of services being offered. Each type of service will be displayed in the button and once
the user selects this type of service, it will contain detailed information of that particular service
and it will also contain additional information such as the profile of the instructors, hourly rates
and packages, schedules and contact information of the partnership. The partnership will also
avail of google ads services in order for the website to reach more potential clients. Through
google ads, Interaction with potential clients may be maximized. Through the process of bidding
keywords, a user who types “Tutorial services will have easier access to the partnerships website
because it will appear directly on the results, the partnerships advertisements can also be shown
in other web pages through google ads. The advertising platform of google provides greater
probability of customers interacting with its website and ensures a higher chance of gaining more
clients.

4.4 Projected Service Revenue

Given that the company is only beginning to operate in its first year, the partners do not
expect a massive influx of revenue as they want to be as conservative as possible. With this, it is
expected that the company will make a profit of at least 5% and at most 75% of the total expenses
throughout the year. Provided the cost of the company will be at a minimum, the potential for
profit would be high. This is because the pricing would not need to cover a lot of expenses such
as utilities due to the means by which the company operates, making the price more affordable.
As a result of the more affordable prices, the market and demand for the service would increase.
This increase would mean more opportunities for the business in terms of revenue and street
credentials, essentially improving the standing of the company. In this regard the table below
shows the projected service revenue of the business per category of service offered.

Annual Service Revenue

First Year Second Year Third Year Total Operations
4,885,000 5,325,000 5,745,000 15,955,000

The annual service revenue shown in this table is based on the prices for the services
being offered by the business multiplied by the number of times the service was purchased.

Prices for Services – Traditional Tutorial

Early Level Intermediate Level College Level Expertise Fee

7,500 12,000 1,500 100

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 The pricing for the traditional tutorial services are competitively set. They ensure that the
students would have access to tutorial sessions regardless of their economic background. This is
aligned with the purpose of the business to increase the welfare of society by creating a culture
of efficient online learning. With this, the prices are set at:

Early Level
- The early level pricing is the cheapest, although it also has the least amount of hours. This
is because each session would be 1 hour only as kids are expected to have less focus after
the said time. The pricing for the year 2030 is competitive and it allows for inclusivity at
10,000 Php for quality tutorial services.

Intermediate Level
- The pricing for the intermediate level is the middle priced amongst the services. This is
because it has the same amount of time as the college level (1 hour and 20 minutes), but
the difficulty is significantly less. The pricing for this allows for students to partake in it
even if they don’t have as much money as in the year 2030, 12,000 Php for quality tutorial
services is affordable at the very least.

Advanced Level
- The pricing for the advanced level is the most expensive as it has the longest sessions,
similar to the intermediate level. Moreover, this service would require the most expertise,
given that college subjects are often specialized and made to be difficult. With this, the
pricing is reasonable and affordable for most college students by the year 2030, where
15,000 Php for 10 sessions of tutoring in any collegiate subject is definitely fair.

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30
5.1 Design of the Services

The design of the services refer to the specific way in which the system of the service
operates. With this, the service is designed as an innovative tutorial system. It would build on
what we have today, which is usually tutors charging students for modules and physical sessions.
In this service the teachers would be synchronously able to communicate with their students,
otherwise known as the clients of the business, through video calls. Essentially, the goal of this
call is to clarify and reiterate the readings and asynchronous work done. Moreover, the teachers
would also relate the concepts and readings provided with concepts that are easier to
understand. The technologies used here would vary from web cams to laptops to make learning
efficient. These are used as they benefit both the business and the clients. The business would,
as a result of this, have decreased cost and increased efficiency, while the clients may be able to
access the services offered at the comfort of their homes. This is why it is believed that the design
of the service is optimal.

5.2 Quality Management

Quality management refers to the manner in which the quality of the services provided is
made consistent. With this, quality management is of utmost importance for the business
promises to enrich its clients, where the services are the main means to achieve this promise.
With this, quality management would be done by recorded sessions, designated emails, and
feedback from the clients. In the beginning of synchronous sessions, there would be a recording
that is aligned with the contract signed by the clients as they were availing of their respective
service. This ensures that both parties are responsible, where we can avoid any teacher-student
complications while assuring that the teachers are performing to the standard set by the
business. Designated email accounts would also be given to the teachers so as to avoid the usage
of personal social media accounts in communicating with their students. This would also avoid
any complications that would arise given that personal accounts would be used. Lastly, the most
important measure of quality management is feedback from the clients. These would be taken
at the 1st, last, and a month after the last synchronous session was held. This would allow for an
initial impact evaluation, an after initial impact evaluation, and a post-tutorial development
evaluation. All these would be accompanied by weekly meetings that would provide time for
direction setting and team building as employee enrichment is necessary in maintaining a good
quality of services.

5.3 Process Strategy

The process strategy refers to the pattern of decisions that the business makes to manage its
processes in achieving its priorities. Given that the business is set online, the cost and amount of

31
resources required is substantially low. This allows for an easier structure, where teachers need
only internet connection and a laptop in its rawest form. It should be noted however, that for
other services that require technology, the free software and equipment can be accessed in the
physical office of the company for the usage of the teacher. Customers may then be involved as
they are pivotal in knowing if the service provided to them was effective and efficient. In
connection, the resource flexibility is apparent as most services only require internet connection
and a laptop. However, as said earlier, there are specific resources accessible for teachers in the
head-quarters. This minimizes risk of brokerage and ensures that all teachers would have access
to these new technologies. In this regard, the mix of people and equipment is balanced, where
each teacher would use his/her personal laptop and any additional equipment required by the
services that is out of their reach would be provided by the company. All these allow for an
optimal operation for the business as the cost would be maintained and the productivity would
be maximized to its fullest potential.

5.4 Store/Office Layout

The business will be renting a commercial space in Makati City. This will serve as the principal
office of the partnership. This will be primarily located on the third floor of the Manalo Towers.
The office will be large enough to provide personal office spaces for each of the partners. The
personal office spaces of each of the partners would be measured at 15 square meters each. The
office will also include an open area that will serve as office space for all the desk employees
which would measure at 35 square meters. There will also be a small employee lounge where
employees can eat during breaks and this will have a measurement of 15 square meters. The
principal office will also house the books and records of the partnership and other important
documents. This will be located in the personal office space of Jocef Ocampo, since He is the
managing Partner. The principal office will also be connected with high speed internet in order
for the business operation to be efficient.

5.5 Human Resources

The human resources department is in charge with screening, interviewing, and training job
applicants or new employees in basic administrative tasks and shall oversee the environment
that the employees are in. The department is also tasked to provide fair and equal treatment to
all and is responsible for handling compensation or benefits, leaves, and firing of employees while
keeping everyone updated on labor laws that may affect them individually or as a company.

While there is a hierarchy of roles and power in the company, minor issues, tasks, and
requests that can be mitigated within five (5) days can be handled by the human resources
department itself. This is not limited to the following:

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 - Approval/disapproval of leave (paid or unpaid)
- Approval of maternity leave
- Request for transfer of department
- Request of performance rating or raise
- Hiring and interviewing applicants
For cases wherein the employee requests for a promotion or a retention of their position,
the academic superintendent alongside the human resources department shall be the ones
approving or rejecting the request depending on the employee’s performance.

Other issues that will resolve into the need for higher authority including the academic
superintendent, operations manager, and chief operating officer, shall be addressed and
mitigated immediately from the human resources department as soon as it has been filed or
requested by a company, an employee, or a client. This is not limited to the following:
- Sexual harassment or other forms of harassment
- Plagiarism of work or modules
- Employment in a similar field of work by nature
- Accepting bribery or favors from other companies or employees in providing
modules

The department shall also create ways in which employees will be able to get to know
and get to familiarize themselves with the company by creating a yearly out-of-town trip in order
to do team building activities and other forms of recreational activities that may boost the team
spirit or confidence of each employee of the company. Subjected to the approval of the
superintendent, the operations manager, and the chief operating officer.

5.6 Scheduling and Maintenance

The senior management alongside the human resources department shall be responsible
in addressing issues concerning maintenance and its schedule within the headquarters. In order
to maintain the cleanliness of the office from hazards that can affect employees and clients and
due to the pandemic that has changed the definition of safety, a weekly cleaning service will be
hired through the human resources department which includes the surface cleaning and
sanitizing of all equipment and furniture. A monthly cleaning schedule shall be done in order to
do deep cleaning, sanitizing, and fogging inside the facility including its equipment such as sinks,
toilets, refrigerator, and the like shall be disinfected during the weekend in order to ensure both
employees and clients that the company that they are working with or for is strict about safety
protocols and its adherence to safety measures. Equipment such as but not limited to air
conditioning shall be thoroughly cleaned every six (6) months in order to prevent dust build up
and to lessen the chances of health issues. Electronic devices such as laptops and computers shall

33
be installed with anti-virus and anti-malware software in order to prevent unnecessary
expenditures right from the start.

** It should be noted that since the business is an online service business, there are no
inventories to be kept. Moreover, the location strategies have been thoroughly discussed in
chapter 4 of this business plan

34
35
6.1 Chart of Accounts

The chart of accounts serves as a guide that lists the categories of assets, liabilities, and
transactions that are undertaken by the business. For Luceat Learning Centre, the chart of
accounts can be seen below.

Account
Account title
number
ASSETS

101 Cash in bank

203 Shop Equipment

203-A Accumulated Depreciation shop equipment

204 Furniture and fixture

204-A Accumulated Depreciation Furniture and Fixture

Partners equity

401 Ocampo, capital

402 Caguimbal, Capital

403 Parra, Capital

Revenues

501 Service Income

Expenses

611 Salaries and wages Expense

612 Depreciation Expense

613 Utilities Expense

614 Insurance Expense

615 Advertising expense

616 Accounting expense

36
6.2 Forecast for First Year of Operations

The first year of operations is from January 1 – December 31, 2030. The financial
statements below would show how the organization performed for this period.

Income Statement

The income statement shows that Luceat Learning Centre in its first year was able to
acquire a total service income of 4,885,000 pesos. With this, the expenses of the company did
not inhibit the organization from receiving a profit. This is seen with how the operating expenses
are less than the service income by 90,000 pesos. With this, the profits were shared in accordance
with the agreed profit & loss (P&L) ration, which allowed each partner to receive 30,000 pesos.

Statement of Changes in Equity

The statement of changes in equity shows that within the year, there was an investment
of 300,000 pesos by the partners. On this note, it should be taken into account that there was no
withdrawal from any partner within the first year. Moreover, the net income is added to the
capital balances in accordance with the P&L ratio of the partnership.
37
Statement of Cash Flows

The statement of cash flows show that apart from operating activities and the initial
investment of the partner from the start of the business, there were no cash transactions made
by the organization. This shows that the total expenses were at 4,765,0000 pesos which allowed
a 720,000 peso balance in the cash in bank account of the business.

Statement of Financial Position

38
 The statement of financial position shows that the assets of the organization are limited
to cash, shop equipment, and furniture and fixtures. With this, the depreciation rate for both
property plant and equipment accounts are at 10% with no salvageable value. This was the basis
for the accumulated depreciation. Moreover, it should be noted that there are no liabilities being
held by the business which shows liquidity. This makes the business a good venture as it is able
to create profit without being indebted to pay liabilities.

The results from the first year of operations of the company support the continuation of
the business. This is because there is a profit that was achieved. Moreover, due to the lack of
liabilities, the company is very flexible in terms of funds. As such, the first year can be considered
a success of operations for the firm

39
6.3 Forecast for Second Year of Operations

The second year of operations is from January 1 – December 31, 2031. The financial
statements below would show how the organization performed for this period.

Income Statement

The income statement shows that Luceat Learning Centre in its second year was able to
acquire a total service income of 5,700,000 pesos. With this, the expenses of the company did
not inhibit the organization from receiving a profit. This is seen with how the operating expenses
are less than the service income by 530,000 pesos. However, it should be noted that the salaries
and taxes increased for this year. With this, the profits were shared in accordance with the agreed
profit & loss (P&L) ration, which allowed each partner to receive 176,667 pesos.

Statement of Changes in Equity

The statement of changes in equity shows that within the year, there was a reinvestment
of 330,000 pesos by the partners. On this note, it should be taken into account that there was no
withdrawal from any partner within the second year. Moreover, the net income is added to the
capital balances in accordance with the P&L ratio of the partnership.

40
Statement of Cash Flows

The statement of cash flows show that apart from operating activities, there were no cash
transactions made by the organization. This shows that the total expenses were at 5,140, 000
pesos which allowed a 1,280,000 peso balance in the cash in bank account of the business. This
was significantly higher than last year in terms of expenses and profit.

Statement of Financial Position

41
 The statement of financial position shows that the assets of the organization are still
limited to cash, shop equipment, and furniture and fixtures. With this, the depreciation rate for
both property plant and equipment accounts are still the same at 10% with no salvageable value.
This was the basis for the accumulated depreciation. Moreover, it should be noted that there are
still no liabilities being held by the business which shows liquidity. This makes the business a good
venture as it is able to create profit without being indebted to pay liabilities.

The results from the second year of operations of the company further supports the
continuation of the business. This is because there is a profit that was achieved. Moreover, due
to the lack of liabilities, the company is very flexible in terms of funds. Furthermore, given that
there was no need for debt to increase the revenue and profit of the organization, the company
can be said to be gaining traction in its field. As such, the second year can be considered an even
greater success of operations compared to the first year of the firm

42
6.4 Forecast for Third Year of Operations

The second year of operations is from January 1 – December 31, 2032. The financial
statements below would show how the organization performed for this period.

Income Statement

The income statement shows that Luceat Learning Centre in its second year was able to
acquire a total service income of 6,800,000 pesos. With this, the expenses of the company did
not inhibit the organization from receiving a profit. This is seen with how the operating expenses
are less than the service income by 950,000 pesos. However, it should be noted that the salaries
and taxes also increased for this year. With this, the profits were shared in accordance with the
agreed profit & loss (P&L) ration, which allowed each partner to receive 316,667 pesos.

Statement of Changes in Equity

The statement of changes in equity shows that within the year, there was a reinvestment
of 506,667 pesos by the partners. On this note, it should be taken into account that there was no
withdrawal from any partner within the second year. Moreover, the net income is added to the
capital balances in accordance with the P&L ratio of the partnership.

43
Statement of Cash Flows

The statement of cash flows show that apart from operating activities, there were no cash
transactions made by the organization. This shows that the total expenses were at 5,820, 000
pesos which allowed a 2,260,000 peso balance in the cash in bank account of the business. This
was significantly higher than last year in terms of expenses and profit.

Statement of Financial Position

44
 The statement of financial position shows that the assets of the organization are still
limited to cash, shop equipment, and furniture and fixtures. With this, the depreciation rate for
both property plant and equipment accounts are still the same at 10% with no salvageable value.
This was the basis for the accumulated depreciation. Moreover, it should be noted that there are
still no liabilities being held by the business which shows liquidity. This makes the business a good
venture as it is able to create profit without being indebted to pay liabilities.

The results from the third year of operations of the company shows growth. This supports
the continuation of the business as more profit was achieved. Moreover, due to the lack of
liabilities, the company is still very flexible in terms of funds. Furthermore, given that there was
no need for debt to increase the revenue and profit of the organization, the company can be said
to be gaining even more traction in its field. As such, the third and final forecasted year can be
considered an even greater success of operations compared to the second year of the firm.

In aggregate, these imply that the business would be profitable from the onset of its
operations. Moreover, the growth is expected to be exponential for the firm in terms of revenue
increase over the first three years of its opening. This, in part, may be due to the focus that the
company places in its clients which makes it reliable that promotes good word of mouth. As such,
Luceat Learning Centre is a business endeavor worth pursuing as it not only generates profit, but
also uplifts our future leaders in the country.

45
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To God be the glory!

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