Quiz Sa Monday Flashcards

Question

Cooperatives work together through mutual cooperation and collaboration to promote the cooperative movement, strengthen their collective bargaining power, and achieve common goals and interests. This principle reflects the spirit of solidarity and mutual support among cooperatives

Answer 1

Cooperation among cooperatives

Answer 2

Concern for Community

Answer 3

Advantages: 1. **Low Overhead Costs:** Operating from home eliminates the need for leasing commercial space, reducing overhead costs such as rent and utilities. 2. **Flexibility:** You have the freedom to set your own working hours, allowing for better work-life balance and the ability to cater to customer demands at convenient times. 3. **Direct Customer Interaction:** Operating from home enables more personalized customer interactions, fostering stronger relationships and customer loyalty. 4. **Creative Control:** As the sole proprietor, you have full control over product offerings, allowing you to experiment with recipes and cater to niche markets. 5. **Community Engagement:** A home-based bakery can become a focal point in the local community, attracting customers through word-of-mouth and creating a sense of belonging. Disadvantages: 1. **Limited Capacity:** Working from home may limit production capacity compared to commercial bakeries, potentially restricting the volume of orders you can fulfill. 2. **Zoning Regulations:** Home-based businesses are subject to zoning regulations and may require permits or licenses, which could pose challenges depending on local regulations. 3. **Distractions:** Working from home can be susceptible to distractions, such as household chores or family interruptions, which may impact productivity. 4. **Perception:** Some customers may perceive home-based bakeries as less professional or hygienic compared to commercial establishments, affecting their willingness to purchase. 5. **Expansion Challenges:** Scaling a home-based bakery business may be challenging due to space limitations and regulatory constraints, limiting opportunities for growth. .

Answer 4

Advantages: • Shared Control: General partnerships offer shared control and decision-making among partners, allowing for collaborative management, while limited partnerships provide limited liability protection for passive investors, enabling them to contribute capital without assuming management roles. • Personal Liability: General partnerships expose all partners to unlimited personal liability for debts and obligations, risking personal assets, whereas limited partnerships may lead to conflicts between general and limited partners over decision-making and management roles, potentially impacting business operations. • Profit Sharing Arrangements: In general partnerships, profit-sharing arrangements are typically equal among partners, fostering a sense of equality, whereas in limited partnerships, profits can be distributed based on the agreement between general and limited partners, allowing for flexibility in profit-sharing arrangements. • Management Flexibility: Both partnership structures offer management flexibility, with general partnerships allowing all partners to participate actively in management decisions, while limited partnerships allow for a separation of management and investment roles, enabling passive investors to contribute capital without involvement in day-to-day operations. Disadvantages: • Shared Control: General partnerships may encounter conflicts over decision-making and management responsibilities, potentially impacting the stability of the partnership, while limited partnerships may face conflicts between general and limited partners over management and decision-making roles, affecting business operations. • Personal Liability: General partnerships expose all partners to unlimited personal liability for debts and obligations, risking personal assets, while in limited partnerships, only general partners retain unlimited liability, potentially exposing their personal assets to risks beyond their investment. • Profit Sharing Arrangements: Conflicts may arise in general partnerships over profit distribution, impacting the partnership's cohesion, whereas limited partnerships may experience disagreements over decision-making and management responsibilities, affecting the partnership's effectiveness. • Management Flexibility: While both partnership structures offer flexibility, general partnerships may face challenges in decision-making due to equal participation among partners, potentially leading to conflicts, while limited partnerships may encounter difficulties in balancing the roles of general and limited partners, impacting business operations and efficiency.

Answer 5

Advantages: • Access to Capital: Corporations have access to various funding options, including issuing stocks and bonds, attracting venture capital investment, and securing bank loans, facilitating rapid growth. In contrast, partnerships and LLCs may face challenges in accessing external funding compared to corporations. • Liability Protection: Shareholders of corporations enjoy limited liability protection, shielding their personal assets from business debts and liabilities. However, partners or members in partnerships and LLCs may have unlimited personal liability for business debts and obligations, exposing their personal assets to risks. • Taxation: Corporations are subject to corporate tax rates, with potential for double taxation of profits distributed as dividends. On the other hand, partnerships and LLCs are generally taxed as pass-through entities, meaning profits and losses are passed through to the individual partners or members and taxed at their individual tax rates, avoiding double taxation. • Governance Structure: Corporations have a well-defined governance structure with a board of directors and officers, providing clear roles and responsibilities for decision-making and management. In contrast, partnerships and LLCs offer greater flexibility in management and decision-making, allowing for customized structures tailored to the needs of the founders. • Long-Term Growth Prospects: Corporations offer scalability and continuity, allowing for long-term growth and sustainability beyond the lifespan of individual shareholders. However, partnerships and LLCs may face challenges in achieving long-term growth due to limitations in access to capital and potential conflicts among partners. Disadvantages: • Complexity and Regulation: Corporations are subject to extensive regulatory requirements and compliance obligations, including periodic reporting, shareholder meetings, and corporate governance standards, which can be time-consuming and costly. In contrast, partnerships and LLCs have simpler formation processes with fewer regulatory requirements and compliance obligations. • Double Taxation: Profits earned by corporations are taxed at the corporate level, and dividends distributed to shareholders are taxed again at the individual level, leading to potential double taxation of income. Partnerships and LLCs avoid double taxation as profits and losses are passed through to the individual partners or members. • Loss of Control: Founders and early shareholders in corporations may experience a loss of control over the company as additional shareholders are brought on board, potentially diluting their ownership stake and influence. Partnerships and LLCs offer greater control and flexibility in decision-making but may face challenges in managing conflicts among partners. • Cost of Formation: Establishing and maintaining a corporation typically involves higher upfront costs and ongoing expenses, such as legal fees, registration fees, and administrative costs. In contrast, partnerships and LLCs have lower startup costs and ongoing expenses, making them more accessible to small businesses and startups with limited resources.

Answer 6

1. Voluntary and Open Membership: The cooperative invites all local farmers to join, promoting inclusivity and collective action. 2. Democratic Control: All members have equal decision-making power, ensuring fairness and representation. 3. Member Economic Participation: Members invest and share profits based on participation, fostering ownership and mutual benefit. 4. Autonomy and Independence: The cooperative operates independently, prioritizing members' interests over external influences. 5. Education, Training, and Information: Members access educational resources, empowering them to make informed decisions and adapt. 6. Cooperation Among Cooperatives: The cooperative collaborates with others, enhancing collective strength and advocacy. 7. Concern for Community: The cooperative supports local needs and development projects, prioritizing community well-being.

Answer 7

Challenges: 1. Workload Management: Sarah faces challenges in managing all aspects of the business alone, including baking, customer service, marketing, and financial management. 2. Scaling Operations: With the bakery's growing popularity, Sarah must consider how to scale her operations to meet increasing demand while maintaining quality. 3. Time Constraints: Balancing the demands of running the bakery with personal time and commitments presents a challenge for Sarah. Opportunities: 1. Local Sourcing: Leveraging the growing interest in locally sourced and organic products, Sarah can further highlight her commitment to using high-quality ingredients. 2. Community Engagement: Building relationships with the local community and tourists presents opportunities for word-of-mouth marketing and repeat business. 3. Diversification: Expanding the product offerings beyond artisanal bread, pastries, and cakes could attract a broader customer base and increase revenue streams. Strategies: 1. Streamlining Operations: Implementing efficient processes and systems to streamline operations and free up time for Sarah to focus on core aspects of the business. 2. Expansion Planning: Assessing options for scaling the bakery's operations, such as hiring additional staff, expanding the menu, or considering a larger location. 3. Marketing and Promotion: Increasing visibility through targeted marketing efforts, including social media campaigns, local events, and collaborations with other businesses. Outcomes: 1. Improved Efficiency: Implementing streamlined operations leads to increased efficiency and productivity, allowing Sarah to manage her workload more effectively. 2. **Growth and Expansion:** Successful expansion efforts result in increased revenue and market presence for Sarah's bakery, further solidifying its reputation in the local community and attracting new customers. 3. Enhanced Community Connection: Continued engagement with the local community fosters strong relationships and customer loyalty, contributing to the long-term success of Sarah's Artisanal Bakery.

Answer 8

1. Production 2. Sales 3. Marketing 4. Finance 5. Human Resources 6. Research and Development 7. Customer Service

Answer 9

The Revised Corporation Code (Republic Act No. 11232),

Answer 10

1. Agricultural Cooperatives 2. Consumer Cooperatives 3. Credit Cooperatives 4. Multi-Purpose Cooperatives 5. Housing Cooperatives 6. Service Cooperatives 7. Producers' Cooperatives 8. Transport Cooperatives 9. Workers Cooperatives