BUCAS GRANDE FOUNDATION COLLEGE

Socorro, Surigao del Norte

CHAPTER I

THE PROBLEM AND A REVIEW OF RELATED LITERATURE

Marginal business enterprises comprise of organizations that usually provide services and

job opportunities to employees. These small and medium business enterprises are present in all the

economic sectors and play a very critical role in alleviating poverty, as a source of income and for

the reduction of unemployment (RoK, 2009). In the Municipality of Bucas Grande Island proper

application of engaging business is a vital element to socio-economic vision. This is because; other

economic contributions emerge from this sector. These are income generation through exports,

new employment opportunities, pioneering innovations, initiating and spurring competition and

also as a cog of development.

As noted by Shepherd and Wiklund (2005) and OECD (2005), the economic activities in

many countries have now been moved from large to small and medium sized Enterprises SMEs,

which are known as the key source of dynamism, innovation and flexibility. SMEs constitute the

dominant form of business organization in all countries worldwide, accounting for up to 99 per

cent of the business population in most economies (OECD, 2010). However, most SMEs deal with

challenges in innovation management due to their limited resources (Vermeulen, 2005).

Additionally, the innovation may involve a risk of failure due to the investment for an uncertain

expected result. Statistical evidences showed that only one-third of the new products launched in

the market were successfully commercialized (Urban and Hauser, 1993). Hence, considerable

scholarly efforts have been made to analyze the nature of innovation management in Small and

Medium-sized Enterprises (SMEs) (Rosenbusch et al., 2011).

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The study conducted by Tambunan (2005) recorded that 82% of businesses failed due to

poor cash flow management skills, followed closely by starting out with too little money. Business

leadership is about taking financial responsibility, conducting sound financial planning and

research, and understanding the unique financial dynamics of one’s business. Half of the town

small businesses fail within the first three years because of cash flow problems. They either run out

of money or run out of time. Consumer debt, personal bankruptcies, and company insolvencies are

all now on the increase (Robert, 2014).

One of the most important reasons why businesses fail is due to poor management. In the

management category, 70% of businesses failed due to owners not recognizing their failings and

not seeking help, followed by insufficient relevant business experience. Not delegating properly

and hiring the wrong people were additional major contributing factors to business failure in this

category (Austin, 2016).

Small business development in Socorro is no exception. Some of the businesses that were

started in the past decades are no longer in existence. There are also those businesses that are not

growing beyond the survival list stage. The high failure rate can be partially attributed to the lack

of support that the small, medium and micro-enterprises (SMMEs) experience.

Kauffmann (2005), points out that small and medium enterprises in the African context are

affected by the existence of inadequate local markets, lack of regional integration, and extremely

difficult business conditions. This includes bureaucratic official procedures, weak infrastructure,

inadequate legal systems, and ineffective financial systems and unattractive regimes. Smaller

enterprises do not usually appreciate the core of financial management and hence have poor

understanding of the essence of good financial management (Ngugi et al, 2012). Furthermore the
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proximity of the marginal business to the urban center and the magnitude of the business is

negatively correlated to awareness of financial management. That is, the lesser the magnitude of

the business and the more distant a business is from the city center the less aware the organization

is about the financial management instruments. These situations expose the business negatively, to

external shocks to their sales and operational costs and thus limit their growth and expansion.

In small firms, current asset management is important to their liquidity and profitability.

Current assets involve the investment in cash, accounts receivable and inventory which are non-

interest bearing assets. It’s possible for a firm to avoid purchasing capital assets like land, but it’s

impossible for a business to run without the provision of adequate current assets. Current asset

management has gained increased prominence as firms began to be aware of the difference

between profitability and liquidity. This is particularly true as the major role of the financial

manager of a marginal business is to spend a great deal of their time managing current assets and

current liabilities. In addition the financial manager is involved in arranging for short term funds,

negotiating credit terms, monitoring the usage of cash, managing accounts receivable and keeping

an eye on inventory movement (Deloof, 2003)

In addition, the management of cash, accounts receivable, and inventory and the

interrelationship that exists between them may be referred to as current asset management. It

requires much of the financial managers time Eljelly (2004). It is also primarily concerned with the

issues that emerge with regards to monitoring of cash, accounts receivables and inventory. It is a

very important point in the financial management and it attempts to control cash, accounts

receivables and inventory in order to optimize profitability and improve the liquidity of the

business. It is vital to know that liquidity and profitability play a pivotal role on the life of a
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business. While a firm may continue to survive without making profits, there is absolutely no way

firm may exist without liquidity.

Mathuva (2009), posits that the lack of efficient current asset management practices by

SMEs exposes them to a lot of financial distress. This inefficiency declines the growth potential of

the business. Current asset management makes it very difficult for a firm that wants to expand to

invest in profitable projects. Furthermore it makes it extremely difficult to conduct strategic

operational plans and therefore the firm fails to meet its operational budget targets. The

inefficiency of current asset management is very detrimental to the utilization of the fixed assets

which are a fixed cost to the business. This slows down the return of investments. The

mismanagement of current assets is linked to the lack of or expensive credit facilities availed to an

organization. This situation will make the organization to lose face, as it will fail to honor its debt

obligations.

Studies reveal that business success is contributed to the management practices,

entrepreneurial competencies and personal characteristics of business owners while study of

Parilla (2009), emphasized the link of management practices, entrepreneurial competencies and

business success, however, there is still a limited literature to prove on the comparison of

management practices of microbusiness owners and small business owners. It is in this context

that this study was conceptualized and it elicited information on management practices of

microbusiness and small business owners in Socorro Surigao del norte. This study benefited the

businesses owners as this provided them information on the management practices for them to

have benchmark.
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Considering the above, this study sought to find out the management practices in relation

to the causes of failures in engaging business which can help to all businessmen to achieve a

successful business. This research will be conducted as the researchers believe that this can be

served as an aid to reconcile those circumstances in engaging business.

Review of Related Literature

Business success and failure

Failure to understand the market, customers and their buying habit is a grave weakness in

business management (Medema, 2007). Customers need to be known as well as their reasons for

spending their money. In addition, poor market research is also detrimental to business. Choosing

an unprofitable business may render business wasteful and detrimental to itself (Hirshleifer et al.,

2005). If many activities are generated but profits are low, it may be a wasting kind of venture.

In fact, communication is important in managing business. A business that intends to grow

should understand and communicate what it is dealing in (Clow and Baack, 2007). It should also

define its value proposition to clients. The managers need to identify what they can do that can

help or benefit their companies. They should communicate their business offering effectively.

Their market should connect with what they say.

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Furthermore, finances are necessary for business to survive. Money gets invested in order to

get rewards from it in profits. Hence, adequate finances are crucial for business success (Golin,

2001).

The study of Roy (2008), business forecasts are vital. Companies must predict the future to

be able to plan business success by offsetting future problems. If a company fails to anticipate or

react to competition, technology, or other changes in the marketplace, it may be caught off-guard.

It is risky to assume that past patterns will always work. Managers need to interrogate factors that

caused past successes. Changing times require changes in business operations. Also, competitors’

ways should be studied and counterbalanced, and new technologies should lead the business. Any

outdated methods are likely going to take the company out of business.

According to Reizenstein (2004), some companies depend on few customers. If a customer

dies a company may perish as a result. Overdependence on a single customer (or few customers) is

a blemish because if a customer withdraws or is no longer able to continue as a client, it risks the

company’s survival. Also, if a client company fails, it risks the company failure as well.

In other hand, no company can guarantee lifelong relationship since aggressive competitors

can displace existing clients. Some company managers cannot explain their businesses. Failure to

define a proper business offering is a weakness. Also, spreading a company thin diminishes quality

since the market pays according to quality of the results (Kelemen, 2003). As stated by Reeves and

Bednar (2005), doing business right is a way to ensure business growth. Too much business can

destroy a company, thus quality, compared to quantity may be a necessary strength to elevate a

business to higher levels.

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Small businesses are the backbone of many economies across the globe. The major

challenge is, however, to overcome the high failure rate among these small businesses (Olomi

2002). In South Africa, where small businesses constitute more than 80% of the business sector,

the failure rate is high (Bowler & Dawood, 2006). On average, 50% of small businesses that just

started eventually fail. This failure rate goes up to 80% in some regions (Macleod, as quoted by

Ladzani & van Vuuren, 2002 and SDBC 2014).

According to Sheppard (2005), organizational slack tends to dry up if small business poor

management practices continue. He further asserts that firm failures can result from high

indebtedness at start-up which signals the absence of resources and the presence of high debt.

Hence, Poor management is not needed in a company. If managers do not know where the

company is going, the company will not get there. To grow and be successful, managers have to

actively work on the business. Failure to plan harms business (Sipamla, 2001).

Synthesis of the Review

Based on the findings of the review of related literature, some researchers have found

similar result with regards to the causes of failures in engaging business.

As cited by Hirshleifer et al. (2005) poor market research is detrimental to business. Like

without knowing that choosing an unprofitable business may render business wasteful and

detrimental to itself. If many activities are generated but profits are low, it may be a wasting kind

of venture. Other related study, (Medema, 2007) failure to understand the market, customers and

their buying habit is a grave weakness in business management. Similarity, Clow and Baack,

(2007) communication is important in managing business. A business that intends to grow should

understand and communicate what it is dealing in.

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Socorro, Surigao del Norte

In contrast, (Golin, 2001) finances are necessary for business to survive. Money gets

invested in order to get rewards from it in profits. Hence, adequate finances are crucial for

business success. As cited Sipamla & Gunder, (2005, 2001) poor management is not needed in a

company, lack of planning is a detriment in business management and failure to plan harms

business. Doing business right is a way to ensure business growth.

Conceptual Framework

Marginal business entrepreneurial firms engaged in the commercialization of innovation

are likely to suffer from resource constraints and may deal with risk and uncertainty through

different forms of organizational response (Alvarez and Barney, 2005). When faced with making

decisions over future investments, such as with innovation, it is suggested that entrepreneurial

leadership will focus on a predetermined level of affordable loss or acceptable risk rather than a

predetermined return on investment(Sarasvathy,2001). The absence of clearly established market

price signals also forces the firm’s management to develop strategies for future

commercialization without these navigation markers (Lippman and Rumelt, 2003). Further, the
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ability of small entrepreneurial firms to exploit potential economic rents from market

opportunities has been associated with their capacity to convert tacit knowledge into explicit

knowledge and generate isolating mechanisms that allow them to secure sufficient control to

enable effective arbitrage (Alvarez and Barney, 2004).

This framework links and associates the connection between the business profiles and the

management practices in engaging business that would be determined to obtain business

proposed intervention in possible consequences regarding business failures. Management of a

business encompasses a number of activities: planning, organizing, controlling, directing and

communicating. The study of Sipamla (2001) stated that poor management is not needed in a

company. It can harm to a certain business that lead to bankruptcy. According to Gunder (2005),

that lack of planning is a detriment in business management.

Additionally, Larson and Gray (2011) identified other problems that may render a

company deficient as poor cash flow management, absence of performance monitoring, lack of

understanding, not using performance monitoring information, lack of financial skills and

planning, failure to innovate, poor inventory management, and failure to recognize company

strengths and weaknesses. Furthermore, trying to do everything and not seeking external help

can destroy the business. If external help is necessary, it is vital to consult. Business survival

depends on doing more of the correct things and avoiding more of the wrong ones.

The first box describes the Business Profile that comprises Capitalization, Type of

Business, Ownership Location and Number of years operated. It is necessary to know better with

the Business Profile of a certain business in order to determine its standing and succession. In

the second box, reveals the management practices wherein it leads to the failure and success of a
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certain business. And then with the connection of the two variables, in the third box it is the

proposed intervention on how to reconcile the consequences of a business failure.

Business Profile
1.1 Capitalization Management practices Business Intervention
1.2 Type of business Measure
1.3 Ownership
1.4 Location
1.5 Number of years
operated
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Figure 1. schematic diagram of the Study

Statement of the Problem

The aim of the study is to determine the causes of business failures in Socorro, Surigao del

Norte.

Specifically, this study will try to answer the following questions:

1. What is business profile as to:

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1.1 Capitalization

1.2 Type of business

1.3 Ownership

1.4 Location

1.5 No. of years operated

2. What are the business management practices of the selected business enterprise in terms

of:

2.1 customer service

2.2 pricing

2.3 supply

2.4 marketing

3. Based on the result, what business intervention measures may be proposed?

Significance of the Study

The prime purpose of this study is to provide information and to develop one’s

ability in the financial leverage practices most especially business firm and cooperative. It is

assured to give benefits to the following:

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Students. The proposed of this research can be used as the stepping stone for business

students in their specialized field of expertise. Thus, it develops the skill and credibility of every

student that would benefit their work in the future.

Consumers. Through this study, the consumers become satisfied with their wants and needs

in terms of best service rendered from the businessmen.

Businessmen. The result of this research study would help to business firm facilitate their

employees to be aware on business failure, to teach them to use it properly.

Future researchers. The study helps to enhance their capabilities and skills in making

business. It measures the capacity of each member of the group on how the tasks managed and

well done. Moreover, it provides knowledge and easy way access of gathering lessons for students.

Scope and Limitation of the Study

The focus of the study is to analyze the management practices in engaging business.

Moreover, it provides information on how to assess business. Furthermore, the results would be the

aid to be able to enhance business skills of the students and this will be conducted in the

municipality of Socorro and it will focus on getting the profile of the business and its management

practices in business.

CHAPTER II

METHOD
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Research Design

The present study will employ the quantitative research approach specifically descriptive

survey type in nature. This study will determine the business profile that includes Capitalization,

Type of Business, Ownership, Location and Number of years operated and will identify the

reasons of failure in engaging business. It will seek answers to the question concerning the

purpose of the study in which to investigate the business management practices and to obtain an

aid to fix the problem in engaging business in the Municipality of Socorro. In this study,

descriptive method was used to determine the similarities and differences of the management

practices and personal competencies of microbusiness and small business owners.

Sampling Design and Respondents

Purposive and convenient sampling technique will be used in this study. The participants of

the study will be the total population of business owners in the municipality of Socorro, Surigao

del Norte.

Instruments

This study will use the researcher made questionnaire which will be validated by the

experts. The researcher made questionnaire will be used to determine the business profile of the

participants and to identify the level of management practices.

Gathering Data Procedure

The researchers will be asked permission from the store owner to conduct the study and

approach them formally at their residence. With the owner’s consent, the researchers will

personally communicate them for the arrangement of schedule in conducting the study.

Afterwards, the researchers will administer the researcher made questionnaire to the business
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owners to gather the needed data for the research. Of course in Part I, they will use a researcher

made questionnaire to acquire the business profile of the participants and in Part II, it will be

used to identify the causes of business failure. And then, survey forms will be retrieved

immediately after collecting the data and will be tabulated and analyzed with the assistance of

statistician.

In this study, questionnaires were the main instrument to be used. The questionnaire

for the business owners consisted of two parts. Part 1 elicited business profile: capitalization,

types of business, ownership, location, and number of years operated. Part II provided the

management practices such as customer service, pricing, supply and marketing management. A

four point scale , 4-1 with answer options of “ very highly practiced” as 4, “highly practiced” as

3, “slightly practiced” as 2 and “not practiced” as 1, was used in assessing respondents’

management practices.

Data Analysis

In analyzing the data, the following statistical tools will be used:

Percentage Count and Frequency Distribution will be used to determine the Business

Profile of the participants which includes Capitalization, Type of business, Ownership, Location

and Number of years operated.

Mean and standard deviation will be used to determine the management practices in

engaging business.
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Assidy D. (2004). A „3Rs‟ strategy for public service turnaround: Retrenchment, repositioning
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Macleod W.M. & van Vuuren, J.J. (2002). Entrepreneurship training for emerging SMEs in South
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Marais, P. & Israelstam, I. (1997). Businesses that don’t train their people go off the rails. The
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Monk, R. (2000).Why small business fail. 74(6):1 Mouton, J. (2002). Understanding social
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Robbins, K. & Pearce, J (1992). Turnaround: Retrenchment and recovery. Strategic Management
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Saunders, M., Lewis, P. & Thornhill, A. (2000). Research methods for business students. New
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Schaefer, P. (2006). The seven pitfalls of business failures and how to avoid them. Available
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Van Aard, I., Van Aard, C.,& Bezuidenhout, S. (2000). Entrepreneurship and new venture
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Van Eeden, S., Viviers, S. & Venter, D. (2003).A comparative study of selected problems
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South African case study. South African Journal of Labour Relations, 30(1)
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APPENDECES

APPENDIX A
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LETTER OF VALIDATION

Rolando S. Nocon
Dean, College of Business
Bucas Grande Foundation College
Socorro, Surigao del Norte

Sir:

Good day!

The undersigned are fourth year BSBA students at Bucas Grande Foundation College
undertaking a research study entitled “management practices of marginal business enterprises in
Socorro, Surigao del Norte ” as partial fulfilment of the requirements in business research.

With your expertise, the researchers are sincerely asking for your precious time to validate
the questionnaire which they intend to use as the research instrument of their study.

They are looking forward for your positive response about this matter. Thank you so much
and God bless!

Respectfully yours,

MARIVIC BALBARINO

RIEZEL P. RAMIREZ

SHERJANINE TAMAYO

Researchers
Noted:

CHENGA LEA T. QUISAGAN

Research Adviser

Approved:
ROLANDO S. NOCON
Dean, College of BUSINESS

APPENDIX B
LETTER OF PERMISSION
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BUSINESS OWNER
Socorro, Surigao del Norte

Greetings of Peace!

We, Marivic M. Balbarino, Reizel P. Ramirez and Sherjanine D. Tamayo, are fourth year
BSBA College student of Bucas Grande Foundation College. We are presently conducting a study
entitled “Management practices of marginal business enterprises in Socorro, Surigao del Norte ”
in the academic year 2017-2018.
In connection to this, we would like to ask permission from your good office in
administering the researcher made questionnaire and standardized test questionnaire to evaluate
your business management; rest assured that all the gathered information will be taken with utmost
consideration and confidentiality.

We’re anticipating with positive regard and approval on this earnest request.

Thank you very much! God Bless and More power!

Respectfully yours,

MARIVIC BALBARINO

RIEZEL P. RAMIREZ

SHERJANINE TAMAYO

Researchers
Noted:

CHENGA LEA T. QUISAGAN

Research Adviser
Approved

Business Owner
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APPENDIX C

QUESTIONAIRE

SOCORRO, SURIGAO DEL NORTE

Dear Participants,
The researchers would like to inform you that you are the chosen participants of this study.
With this, we would like you to answer this questionnaire. Each of the statement in this
questionnaire evaluates and gathers information with regard to the Causes of Failure in Engaging
Business. Please do not leave any item unanswered.
Rest assured that the information you will share will be kept confidential. Please answer
honestly and with all sincerity.

Truly yours,
The Researchers
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MANAGEMENT PRACTICES OF MARGINA BUSINESS ENTERPRISES IN SOCORRO,

SURIGAO DEL NORTE

Questionnaire for the participants

PART- I
BUSINESS PROFILE

NAME OF BUSINESS:__________________________________________________
A. Types of business
Corporation
Cooperative
Partnership
Single Proprietorship

B. Capitalization
5,000-15,000
20,000-35,000
40,000-55,000
Above 60,000

C. Ownership
1-5 members
6-10 members
15 and above members
D. Location
Center Area
Commercial area
Not commercial area

E. Number of Years Operated

1-5years
6-15years
20 and above years

PART- II
CAUSES OF FAILURE IN ENGAGING BUSINESS
Direction: Rate from 1-3 the following statement if you think you had performed it.
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Rating Scale Verbal Interpretation

1 NOT PRACTICED (NP)
2 SLIGHTLY PRACTICED (SP)
3 PRACTICED (P)
4 HIGHLY PRACTICED (HP)

NOT PRACTICED SLIGHTLY HIGHLY

PRACTICED (2) PRACTICED PRACTICED
Indicators
(1) (3) (4)
CUSTOMERS SERVICE
1. Designs packaging for customers’
convenience
2. Designs packaging to suit customer
budget.

3. Improves the product/service

continuously.
4. Maintains good rapport with the
customers
PRICING

5. Sets price prevailing in the market

6. Sets price depending on terms of

payment
7. Sets price based on desired profit.
8. Observes selling promotion
SUPPLY

9.

10. Buys raw materials/goods/supplies on

credit
11. Borrows funds from banks and other
financial institutions.
12. Controls costs and expenses
MARKETING
13. Buys goods/raw materials in big
quantities
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14. Buys goods/raw materials exclusively
from particular supplier.
15. Advertises its products/services

CURRICULUM VITAE

PERSONAL PROFILE

Name : Sherjanine D. Tamayo

Age : 20
Sex : Female
Civil Status : Single
Citizenship : Filipino
Birthdate : December 14, 1996
Birthplace : Socorro, Surigao del Norte
Height : 5’0
Father’s Name : Rodelio J. Tamayo
Occupation : Fisherman
Mother’s Name : Gelita D. Tamayo
Occupation : Housewife

EDUCATIONAL BACKGROUND
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College - BSBA major in Financial Management
Bucas Grande Foundation College
Socorro, Surigao del Norte
2013 - 2018

Secondary -Socorro National High School

Socorro, Surigao del Norte
2009 - 2013

Elementary - Don Albino Taruc Memorial Elementary School

Socorro, Surigao del Norte
2003 - 2009

CURRICULUM VITAE

PERSONAL PROFILE

Name : Marivic M. Balbarino

Age : 24
Sex : Female
Civil Status : Single
Citizenship : Filipino
Birthdate : March 12, 1993
Birthplace : Socorro, Surigao del Norte
Height : 5’1
Father’s Name : Jimmy P. Balbarino
Occupation : Farmer
Mother’s Name : Elenita M. Balbarino
Occupation : Housewife

EDUCATIONAL BACKGROUND
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College - BSBA major in Financial Management

Bucas Grande Foundation College
Socorro, Surigao del Norte
2012 - 2018

Secondary -Socorro National High School

Socorro, Surigao del Norte
2008 - 2012

Elementary - Socorro Central Elementary School

Socorro, Surigao del Norte
2002 - 2008

CURRICULUM VITAE

PERSONAL PROFILE

Name : Riziel P. Ramirez

Age : 23
Sex : Female
Civil Status : Single
Citizenship : Filipino
Birthdate : January 28, 1994
Birthplace : Socorro, Surigao del Norte
Height : 5’3
Father’s Name : Jonelito B. Ramirez
Occupation : Farmer
Mother’s Name : Adorasyon P. Ramirez
Occupation : Housewife
 BUCAS GRANDE FOUNDATION COLLEGE
Socorro, Surigao del Norte

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EDUCATIONAL BACKGROUND

College - BSBA major in Financial Management

Bucas Grande Foundation College
Socorro, Surigao del Norte
2013 - 2018

Secondary -Socorro National High School

Socorro, Surigao del Norte
2008 - 2012

Elementary - Sudlon Elementary School

Socorro, Surigao del Norte
2002 - 2008