SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

CHAPTER I

PROJECT BACKGROUND AND HISTORY

1.1 Proposed Name of the Business

The proposed name of the business is “SioMy Heart”. Siomai is one of the

favorite snacks of Filipinos which can be eaten any time of the day (Bitlander,

2018). When it comes to food, people want quality product that can satisfy

cravings without spending too much and as healthy lifestyle has become one of

the main concerns of many Filipinos today (Domingo, et al. 2017), instead of using

the traditional fillings which is made up of pork, chicken or shrimp, the proponents

came up with banana blossom or more commonly known as “puso ng saging”,

hence the name SioMy Heart.

1.2 Description of the Industry

SioMy Heart Co., owned and established through a partnership, is a

manufacturing company of Siomai, a Chinese dish with more than seven hundred

years of history in which became well-known with the emergence of Hong Kong

style restaurants. That is how its charm and tastiness spread throughout the

world. In Japan, the recipes have been altered to better fit the local’s taste and

ingredients, such as adding scallops to increase the umami flavor. In Southeast

Asia, siomai are developed with various cultural characteristics. Take Indonesia

for example. Their siomai is made and enjoyed differently. It is made from slightly

thicker wonton wraps and filled with fish for religious reasons (Anko Food

Machine, 2020).

In the Philippines, Siomai is frequently seen as a readily available snack when

 SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

hungry and typically found on the streets on small carts or stalls, served in small

plates with rice or in paper trays with a drizzle of soy sauce with calamansi, or

bought raw and frozen in markets to be prepared and eaten at home. SioMy

Heart will introduce a unique concept which is yet to be introduced in the local

industry. SioMy heart will provide new and healthier alternative, comparable to

classic deliciousness of siomai that we all know.

1.3 Description of the Project

SioMy Heart Co. will introduce and manufacture a unique and healthy

variant of the well-loved siomai. A siomai that is filled with banana blossom, also

known as “puso ng saging”. The Philippines is a tropical country with a large

supply of banana blossom, the main raw material in making SioMy Heart. The raw

materials for the product will come from local suppliers while the production and

manufacturing will be done by the company.

SioMy heart will be suitable for any age groups and especially those who

prefers vegetables. A versatile dish that can be eaten solo as a snack or with rice

as a main dish. SioMy heart will be the new go-to guilt-free nutritious snack that

will be enjoyed and loved.

1.4 Goals of the Business

As a small-scale business, the goal is to provide an opportunity to promote

and offer a healthy and delicious banana blossom filled siomai that would cater

any age groups.

Here are the goals of SioMy Heart Co. aims to achieve:

 To be a well-known pioneer in producing and promoting an alternative

 SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

content of siomai which is banana blossom or “puso ng saging.”

 To provide healthier and tastier flavor than the usual flavors like pork,

chicken, and beef siomai.

 To generate sales and be profitable enough to compete and expand to

other locations.

1.5 Objectives of the Business

1.5.1 Marketing Aspect

 To develop an engaged audience by introducing banana filled siomai using

social media platforms like Facebook.

 Aims to increase market share by reaching out to resellers and even

wholesalers, to help the company reach more customers

 To increase positive product reviews by offering great customer service and

having an accessible and active social media page.

1.5.2 Management Aspect

 To improve employee engagements and satisfaction by creating a safe and

healthy workplace.

 To increase overall productivity by hiring well suited and qualified

employees.

 To strategically plan continuous improvement initiatives of the workplace

and production by reviewing feedback and opinions from employees.

1.5.3 Production Aspect

 To ensure the quality of raw materials by examining existing and potential

suppliers.
 SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

 To guarantee the quality of the product by making a detailed and

comprehensive specifications and doing product inspections.

 To continually seek ways to improve product’s appearance, taste and

overall quality.

1.5.4 Financial Aspect

 The business seeks to determine the total capital required to establish the

business.

 To determine the estimated monthly and annual revenue of the business.

 To determine the business’s return on investment and payback period.

1.5.5 Socio-economic Aspect

 To contribute to the local economy by supporting local farmers.

 To pay taxes in accordance with the law.

 To contribute to the society by offering healthy product.

1.6 Location of Head Office and Factory

The location of the shop will be located at Block 67 Lot 29 Phase 3 Marquez

Avenue, Diamond Village, Anabu II-F, Imus, Cavite. The shop is located directly in

front of Puregold Golden city, near the wet and dry market of Golden city. The

Shop will be 15.4 square meters in size, perfect for a small starting business. The

area is accessible to market goers from Golden city, Diamond village and Patricia

South Villa homeowners.

Figure 1

Actual Location of the Business

 SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

Figure 2

Map Location of the Business

1.7 Definition of Terms

 SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY

Siomai. The Filipino term for steamed Chinese dumplings that are usually filled

with pork, beef, chicken and occasionally shrimp.

Street Food. A snack which can be found along the streets.

Snacks. A light meal food eaten between regular meals

Banana flower/blossom. also known as a “banana heart” or “puso ng saging” is a

fleshy purple-skinned flower shaped like a tear which grows at the end of a banana

fruit cluster. Traditionally used in south east Asian and Indian cooking.

1.8 GANNT Chart

ACTIVITIES WEEKS
(January - February)

January February

1 2 3 4 1 2 3 4
Approval of
Feasibility Study
and Sourcing of
Funds
Processing of
business
requirements
Renovation and
Improvements
Purchasing of
equipment and raw
materials
Marketing and
promoting period
Starting of
business operation