A Reflection Paper

We entitled our assumed company which named JRP Lending Company

Corporation. JRP stands for the initials of our assumed CEO named Jerome R. Pontioso.
Its business started with 5-6 (five-six) and expanded after 2 years, mostly in the entire
Northern Mindanao. The content of our manual are the mission, goals, objectives and
policy of the company together with the procedures on how to apply an investment or
loan in our company. There are also background information of the CEO of his personal
life and his career life where stated there when he started and how he formulated his
company to become one the trusted lending company in the entire Philippines. There are
also information there of how much capital the company hasand who are his business
partners who helped him to expand his company. Our mission is providing
entrepreneurial poor an opportunity to support their economic and social condition while
maintaining the high standing of our company. Our company is not just aiming for a high
profit but also helping other companies which in need. Our goals, of course, to have 0%
of bad debts or uncollectable accounts to sales. Protect JRP from abuses that occur in the
market place who enter into short-term, high rate loans. Also improving distribution of
information and services through web-based tool to open more new accounts. Our
objectives are providing consumer complaint process to whoever violates the law.
Examine financial institutions to assure their operations are in accordance with law and
sound financial institutions practices. Our company has integrity and treats all borrowers
fairly and reasonably. We base our decision on careful and prudent assessment of a
borrower’s financial position and has capacity to repay a loan. If the applicant feels they
have been wronged or mistreated, there are redress is in place. And lastly, the procedures
on how to apply an investment or loan in our company. First, we evaluate new
costumer’s creditworthiness. If the new costumer has the ability or has these 5 C’s of
credit, he can now comply his initial requirements. These are for protecting the company
from abuse fake loaners or investors which the first step that leads the company into
bankruptcy.

By formulating an idea of having an assumed company that will make us

formulate a mission, goals, objectives, policy, and procedure is not that easy. We
encountered many trials thinking what would be our company’s name. Since we have no
idea how to begin the simple credit and collection manual, we research first how to
formulate a mission, goals, objectives, policies, and procedures of the company. We first
named our assumed company, Duterte Lending Company Corporation. Funny right?
Because it’s so out of the way our company’s named. Then, we decided to name it to our
assumed CEO with his initial JRP. So we come up to name it now as JRP Lending
Company Corporation.We asked some employee in the bank but all of them refused to
give us an information. That give us an idea that the information in the bank or company
is very confidential. We have no choice but to research and research at all. We write our
introduction by formulating an information in our assumed CEO. We based it to Henry
Sy’s early life and career life on how to formulate it.All we have written is based on our
research. But take note, we never copyright every detail, just a basis.

This simple credit and collection manual helps me to give me an idea on how to
make a mission, goals, objectives, policy, and procedures in a company. It’s a future
preparation if ever soon after I or we graduate in college, we have this idea of building a
company, we can now know how to formulate mission, goals, objectives, and policy in
our own company. You should plan very well and have an outlook on what it would be
and what it should be in the future. Because this lending company rely on money and if
you fail to handle it, it is a big lost. I have a plan in building a business soon, so now this
helps me to improve more what I’ve plan. Though my future business is far from the
business we formulated because it’s too huge and hard to handle than mine but at least in
terms in strategy of a business, it helps me a lot.

In terms in applying it to my future business, it is giving me so much idea of how

to formulate mission, goals, objectives, and policy. Before I build a business, it should be
plan well to avoid bankruptcy. You should think not just to have high profit but think if
you are able to give costumer’s satisfaction with your business. That’s what I learn in
researching what mission is.

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