Praktikal, Inc.

Praktikal, Inc. is a corporation composed of 10 young individuals who share the same goal of manufacturing and selling reversible ladies bags. The company is committed to providing its customers with trendy and functional products by continuously designing wide-based fashion accessories that are multi-purpose, unique and affordable without sacrificing the value of quality. The company envisions itself to be a highly respectable Filipino company that can compete with the leading designers of apparels in the world as far as quality, trend and innovativeness are concerned. In line with this, it would like to be known to the export market by establishing branches outside the Philippines and by continually expanding and introducing at least one new product line every 3 months. They will aim to be the nationwide market leader in product quality and customer satisfaction while at the same time enriching employees\u27 skills and well-being. Bagliktaran, the company\u27s main product line, is a 2-in-1 reversible ladies bag that can easily be transformed to two unique looks. One side of the bag can be used for casual occasions while the other side can be used for formal affairs. The target market of the company is the female population of Metro Manila, all belonging to the upper middle and middle classes of society. Based on the market study and pre-operation feedbacks from potential customers, Bagliktaran is perceived to be a product that will be an instant hit when launched in the market. This is because of the product\u27s unique features and reasonable price. When compared to direct competitors, results showed that Bagliktaran is cheaper and has more features. It brings more benefits to users, without sacrificing its quality, durability and convenience. Based on the survey results, the product\u27s monthly potential demand is at 244 units at 70% conservation rate. Also, the company will be able to achieve their desired 50% return on investment only in a month\u27s time, which is a lot sooner than their 10-month objective. Because of the perceived success of the business, the company drafted their own strategies, risk and control procedures in order to be prepared for possible drawbacks