Feasibility of Mango Shake Essays

Feasibility of Mango Shake Essays Feasibility of Mango Shake Essay Feasibility of Mango Shake Essay Chapter 1 INTRODUCTION Background of the Study Food is arguably the most important thing when it comes to a person’s life. Everyone eats, no matter what kind of diet they tend to have. Everyone just really eats food and that. The great thing about food, however, is that they tend to be quite unique to its location. A dish could be popular worldwide, but it can also be very local and specific to an area. This is mostly due to the fact that food largely reflects local culture. The ingredients and how the food is cooked say a lot about a specific region or country. Siomai in general is a popular food, not only in the Philippines but also in other countries. This is due to its delicious taste and simple preparation. Globally, this type of dimsum originated in Guangdon China (shumai). The other names for siomai are shaomai, shuimai and shewmai or which are traditional Chinese dumplings serve in dim sum. There are many regional version of shumai in China such as huhhot version and cantonese version and from Jiangnanregion. Its introduction and wide acceptance in parts of the world like in the Philippines and other south East Asian Nations, inevitably resulted to the evolution of many varieties, methods and preparation and using different ingredients(The Oxford Pocket Dictionary of Current English, 2009). That’s why siomai industry is becomes very popular because of its unique taste and one of the easiest to make. In Inner Mongolia,huhhotshaomaiis considered one of the oldest varieties of shaomai. Within the dimsum tradition of the southern china, it is one of the most standard dishes. : This is also popular in Vietnam they called it as â€Å" xiumai† one of the producer of siomai and in Japan â€Å" shumai† has also great indication demand of siomai. (Dictionary. coms 21st Century Lexicon, 2011). And in Hongkong many large dim sum restaurants offers scores of different varieties and one of those varieties is the siomai. The larger specialist dim sum restaurants will usually prepare up to 100 of them on any day. In the Philippines, food scene siomai has been causing quite a stir. Low total investment but faster Return on investment (ROI). With the proliferation of all kiosk and roadside stores selling freshly steamed and sometimes friedsiomai at a very affordable price. The family can now fully enjoy the delicious Chinese dumplings any days of the week without losing a big chunk of the already tightbudget (HsiungDeh-Ta. , 2005). In Pangasinan,specifically in Dagupan City, siomai also serves as one of the most popular light meal or snack in malls and sup ermarket. It is a welcome reprieve for the mothers who have kids and who love the tasty dumplings so much, but do not have the required time to regularly prepare one. There are franchisedstalls, such as MasterSiomai, Red Ninja, Siomai House and Shaolin shomai which targets students amp; working people. Chinese restaurants such as a Chowking, North Park, Davids Tea House, Flavors of China, Gloria Maris and many other restaurants also serve this. The proponents decided to enter in this kind of business not only to gain profit but also for their business to generate more employment in Dagupan City, Pangasinan. This is not only for the proponents benefit but also for the community of Dagupan City and to other places as well. Conceptual Framework The researchers used the Input-Process-Output Model in this study. The inputs of this study consist of the five aspects of the business as to market aspect, technical aspect, organizational and management aspect, financial aspect and socio- economic aspect. Descriptive survey method was used in gathering data and information. The formulation of questionnaires, conducting of surveys and one-on-one interview were the instruments used. The output of this study is the feasibility of Q-mai. Feasibility of Q-mai House Input ProcessOutput Descriptive Survey Method, Formulation of questionnaires, Conducting of Surveys, One-on-one interview Figure 1. 1 Research Paradigms As to Market As to Technical As to Organizational and Management As to Financial As to Socio-Economic Statement of the Problem The study sought to determine the feasibility of Q-Mai House, Oh my Q-mai!. Specifically, it sought answer to the question:What is the feasibility of Q-Mai House, Oh my Q-mai, as to: a) Marketing aspect; b) Technical aspect; c) Management aspect; d) Financial aspect; e) Socio-Economic aspect; Assumption The researchers assumed that: 1. Q-mai can be consumed in all seasons, thus, the demand is said to be highly relative. 2. There is no market that offers quail egg siomai in Dagupan City, hence, there is no direct competitor in the industry. 3. The application of a sole proprietorship as a form of business organization is an advantage because it is relatively simple to manage and control. 4. The Q-mai House will help the economy by providing employment and will also help the Government raise its revenues to settle expenses by paying taxes. Significance of the Study This feasibility study onQ-mai House in Dagupan City will benefit the following; Businessmen. This study will provide business people especially the beginners, a background about this business. It will answer the questions: How to start? How to do it? What is needed? And most especially, whoare the potential costumers? Thus, it will prepare the would-be-businessmen on what are the possible risks that should be anticipated involving this type of business. Customers. This study will benefit the customers because they could avail of a product that is affordable, nutritious, safe and readily available. Students. This is useful and interesting as a study guide and basis for those who are taking as a Bachelor of Business administration, that will undergo research, thesis and feasibility subject. Government. This studyhelps to improve our economy as a new and successful business through the business tax that should pay by the proposed business. With effort and interest the government may benefits more, though to the market being collected upon it. Scope and Limitations This study sought to determine the feasibility of Q-mai House as to market aspect, technical aspect, organizational and management aspect, financial aspect and socio-economic aspect. The proponents used descriptive survey method with questionnaire and interview as the primary sources of data and internet and library research as sources of secondary data. To gather data on the market aspect, questionnaires were distributed to and answered by a total of 378 students of University of Luzon. As to the technical, financial, management and socio-economic aspects, observation and interview of existing competitors, internet and library materials were the sources of data. Further, SPSS 17 was used in analyzing the data collected. Definition of Terms Business. Thisisan economic system in which goods and services are exchanged for one another or money, on the basis of their perceived worth. (BusinessDictionary. com , 2011) Entrepreneur. This is someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced(BusinessDictionary. com , 2011). Feasibility Study. This is an analysis and evaluation of proposed project to determine if it is feasible to market, technical, organizational and management, financial and socio-economic aspect. Financial Aspect. Thisis a study which includes total project cost, major assumptions, projected financial statement and financial analysis. Market Aspect. Thisconsists of market programs and strategies, description of the product, the analysis of demand and supply, and price study. Organizational and Management Aspect. Thisincludes nature and form of the business, legal requirements, organizational structure, human resource management process, management style and pre-operating activities. Technical Aspect. Thisis the discussion of the basic and operation flow of the project. This factorresponds to the technicalities and basic structure of the proposed study. This includes the list of equipments, materials, structure plan and also the source of the supplies use in the proposed project. Business plans, utilities, facilities, layout designs and location. Social Responsibility. Thisis the obligation of an organizations management towards the welfare and interests of the society in which it operates (Baker, 2008). Socio- economic Aspect. This is a field of study that examines the social obligation and responsibilities, and economic contribution of the proposed business.