nstp ii

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FAR EASTERN UNIVERSITY

National Service Training Program 2

REFLECTION

Date Completed: January 24, 2011

NAME: Salazar, Christian, P. COURSE/SECTION: BSBA major in financial

management

INSTITUTE: IABF YEAR LEVEL: 2nd year

Module Title: “Micro, Small and Medium Enterprises (MSMES)” and “Financial Planning”

Name of Resource Person/s: Edwin Cabral Pasahol

Micro, small, and medium enterprises (MSMEs) are known as any business engaged in

business/services, whether single proprietorship, cooperative, partnership, or corporation whose

total assets, inclusive of those arising from loans, business like manufacturing which is 14.7%,

hotel and restaurants which is 12.3%, renting which is 5.9% and other community which have

5.7%. MSMES is also called as the vital engine of the economy.

They are able to effectively increase the local content or the value added in final goods

that are processed and marketed by large manufacturing firms. Also, MSMEs can act as the

seedbed for the development of entrepreneurial skills and innovation. They play an important

part in the provision of services in the community. They can make an important contribution to

regional development programs. MSMEs contribute to the creation of wealth, employment, and

income generation, both in rural and urban areas, thus, ensuring a more equitable income

distribution.

7/27/2019 NSTP II




REFLECTION

Date Completed: January 24, 2011


management


Module Title: “Starting Your Business” and “Marketing Your Product”

Name of Resource Person/s: Edwin Cabral Pasahol

Business is created through a step by step process and it is like a food recipe with

various ingredients or requirements. Upon mixing this different ingredients together with sturdyperseverance in the end, you will have a savory sucess. Another essential component of

building a buisiness is the passion. Passion is the stimulus in any field of endeavor thus, a

person must love and like what he will be doing.

Business is develop through the following stages; fist is self- awareness, second is to

project your identification, third is to plan your business, forth is fund sourcing(Financing), fifth is

Implementation and the last is the evaluation. Evaluation determines if your business is

generating enough profit to cover all the expenses used in your business. When starting a

business do not make an informal loan or debt. The basic for mula for this is Income - Savings =

Expense. One way to check if your business is earnng enough income is by listing all your

assets, liabilities, and all your competencies and skills, so that you will have an idea on how well

your business run and this will identfy what will be you future plans to enhance your business.

When starting your business you must be sure that you have your own financial

assistance. This will serve as a back- up on your expenses, if necessary look for formal sources

like government financing institutions(LND, DBP, DOLE, GSIS and other alike).

Ofcourse when you are starting a business you should have your savings. Savings can

be made first on capital accumulation then you invest your money on money markets, after that

you will have some profit came from your investment, the last is when you have more than

enough profit to generate your business necessities , it is worth to help others on starting their

own business.

7/27/2019 NSTP II




REFLECTION

Date Reflection Paper Completed: January 24, 2011


management


Module Title: NSTP 2 Introduction ( Training of The Trainees)

Name of Resource Person/s: Prof: Tala- Tala

It is essential to know new things that will be helpfull to our community. We BSBA

majors are taught on how can we contribute to community specially on business matters. Like

How to start a business, How to handle a business, How to develop a business and other alike.

We will be learned and trained for this, for us to extend our knowledge for those small

communities who needs our help, but first we must know all this things well before we can teach

other people on the community.

Ofcourse learning this things is both good for the community and us. We can learn and

at the same time help other. Having learned this thing will increase our knowledge and power to

extend our help, but having this great knowledge and power equiped will also mean that we will

also have a great reponsibility on the community as well.

As the classical quote said “no man is an island” we, human beings are made like metal

chains.....connected and looped to each other. One cannot live for his sake only, one cannot

find his essence in his own self. Hence, everything I learned must be shared especially to those

who need it. Reaching other people and improving the quality of their life by teaching them what

I had learned and acquired will be my greatest masterpiece. Holding people’s hand, helpingthem to start and build business, improving their lives is more than a gold trophy.

nstp ii

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