Philippine Economy Case Study

A. ECONOMIC FACTORS With the present situation, the Philippine Economy cannot establish stability since the Philippines is affected by the continuing oil price increase. The gas rate increases up to 6% which means that there will be an increase in the cost of delivery, thus yielding to an increase in the product price (Tan, 2005). The company is also affected by the increase in the taxes and licenses which will be renewed every year. The increase in these taxes and licenses are being used by the country for the improvement of its constituents. Another factor to be considered is the alteration of the Philippine currency against the foreign currency. The company is affected by money depreciation since the raw materials of the product is easily

TECHNOLOGICAL FACTORS
Technology really controls almost everything nowadays but of course this technology has its own limitations so whether people like it or not man power is needed in doing and finishing things. In the company’s business, the usage of some machines for the production of the vegetable loafs is greatly needed. On the other hand, the need for laborers to manage the whole system of the business is also necessary.
Machines will be used in order to process the raw materials and come up with the vegetable loaf. Machines help the company to produce more products while spending less time, effort and money.
Though this machines will be a great help , it has also a disadvantage especially regarding its maintenance because lots of machines today really needs a budget for it to keep working properly and as year passes by the cost of its maintenance tends to go up. The depreciation of the machines that the company will be using is more or less 20 years and if after 20 years the company needs to replace the old machines, for sure that these machines will be on a higher cost. And during the processing method, these machines could also affect the freshness of the vegetables especially if the ingredients are not in a good condition before it is

These licenses can be provided by the government agencies like BFAD Bureau of Food and Drugs. One of BFAD’s regulations on food production is the proper labeling of packaged food which is written in the Section 7 “Guidelines on Micronutrient Fortification of Processed Food” of R.A. 7394, otherwise known as the "Consumer Act of the Philippines” (Samson, 2001). Another government agency is DTI Department of Trade and Industry, aims to serve the needs of both business and consumers. Specifically, its services are aimed at creating a business-friendly environment that promotes and facilitates the growth of investments, trade and industry in the country. DTI protects the welfare of consumers and enables them to get value for their money. And the last government agency that the company needs to consider will be the BIR Bureau of Internal Revenue, the main responsibility of this agency are the taxes that the company should pay every year. It is a responsibility for every Filipino to pay taxes so that our government can have enough funds for the development of the