Overcoming Challenges in the World of Business in Selected Large Enterprises in the Municipality of Donsol

Abstract

INTRODUCTION

Challenges that are new and difficult requires great effort and determination. Overcoming challenges in one business is not easy especially when someone starting his/her business. Business is about not only studying individuals, communities, and organizations; it involves assessing their needs and problems, as well as generating solutions. It provides an increased understanding of mutual dependence though business system as people becoming increasingly dependent on others. Business is all about money and all about partnership. Entrepreneurs play a key role in any economy. These people have a skills and initiative necessary to anticipate current and future needs and bring good new ideas to market. This research determined on how the owners of large enterprises overcome the obstacles that their business faced.

METHODS

The study used descriptive method. It utilized survey questionnaire for data gathering. Simple statistical treatment were used such as frequency count, percentage, weighted mean and rank. The data were triangulated, analyzed and interpreted.

RESULTS

The existing practices in Overcoming Challenges in the World of Business on Selected Large Enterprises at Municipality of Donsol were identified such as the demographic profile of the respondents in terms of age, sex, gender, educational attainment and marital status. Then the selected respondents answered the survey questionnaire that was given by the researcher. In question number one what are the challenges that business owners faced? Most of them answered having a business competitors and the second questions is, how they can overcome the challenges when it comes to business? Majority of them answered they just want to give their best, never surrender and having a determination. The third question is, have you ever experience bankruptcy? Majority of respondents were not yet experience a bankruptcy. The fourth question is, did you ever experience bankruptcy? Most of the respondents were not expecting that their business is going to a bankruptcy. The last question was, as a business owner what ae your strategies to have a successful business? Majority of the respondents answered having a positive mind to be successful business owners.

DISCUSSIONS

Based on the findings, there is ten respondents were female and male. Majority of them were graduated in college and already married. Their business have long been for years and still they are successful and were not yet experience bankruptcy. To be a successful business owner it is important to have a enough or prior knowledge on how to run a business properly and do not come up to a bankruptcy.