Baby Bloomers
Baby
Bloomers
Submitted by:
Garcia, Margalou
MGE11A/TTH/10:30-12:00
BABY BLOOMERS
Time Context The case was designed on 1987 where the Philippines is experiencing economic difficulties and political instability.
Summary
Baby bloomers, founded by Mrs. Felisa Picache in 1977, is a family enterprise owned by Mrs. Picache and her husband Mr. Oscar Picache pioneering in floral arrangements with the use of imported materials. With its prestige and immense profitability, this led the Picaches into considering programs of expansion, thereby forming the Baby Bloomers Commercial Corporation (BBCC). To finance the expansion plans, BBCC sought loans from bank and placed their personal holdings as additional capital into the company and used these as collateral to the debts. Large cash flows continued and they decided to put up other unrelated ventures, such as a restaurant, automobile dealership, jewelry shop and many more. Much of the funds available for servicing the debts were used as capital in other businesses. Unfortunately, problems bursts as not all the Picaches’ enterprises were doing well, in addition, devaluation of dollar set in and there is lack of management of the company’s debt problems. To settle the debts, the mortgaged properties were foreclosed and the troubled businesses were sold off, leaving only the flowers shops and the moderately successful restaurant.
Mission
Baby Bloomers is founded to be a novel way of selling floral arrangements using imported materials and bringing a quality service to its customers.
Vision
To be the leading high-quality florist in the Philippines, maintaining the prestige that comes from the “Baby Bloomers” brand
I. Statement of the objectives The objectives of this study is to help Baby Bloomers Commercial Corporation (BBCC) recover from financial difficulties it has been facing due to various expansion and to help them to look for possible business
Bloomers
Submitted by:
Garcia, Margalou
MGE11A/TTH/10:30-12:00
BABY BLOOMERS
Time Context The case was designed on 1987 where the Philippines is experiencing economic difficulties and political instability.
Summary
Baby bloomers, founded by Mrs. Felisa Picache in 1977, is a family enterprise owned by Mrs. Picache and her husband Mr. Oscar Picache pioneering in floral arrangements with the use of imported materials. With its prestige and immense profitability, this led the Picaches into considering programs of expansion, thereby forming the Baby Bloomers Commercial Corporation (BBCC). To finance the expansion plans, BBCC sought loans from bank and placed their personal holdings as additional capital into the company and used these as collateral to the debts. Large cash flows continued and they decided to put up other unrelated ventures, such as a restaurant, automobile dealership, jewelry shop and many more. Much of the funds available for servicing the debts were used as capital in other businesses. Unfortunately, problems bursts as not all the Picaches’ enterprises were doing well, in addition, devaluation of dollar set in and there is lack of management of the company’s debt problems. To settle the debts, the mortgaged properties were foreclosed and the troubled businesses were sold off, leaving only the flowers shops and the moderately successful restaurant.
Mission
Baby Bloomers is founded to be a novel way of selling floral arrangements using imported materials and bringing a quality service to its customers.
Vision
To be the leading high-quality florist in the Philippines, maintaining the prestige that comes from the “Baby Bloomers” brand
I. Statement of the objectives The objectives of this study is to help Baby Bloomers Commercial Corporation (BBCC) recover from financial difficulties it has been facing due to various expansion and to help them to look for possible business