This study is made to determine the current market situation of Dr. Yanga’s Colleges, Inc. ’s College of Accountancy for the current academic year of 2011-2012. In here, DYCI is in comparison with its top rival schools offering Bachelor of Science in Accountancy within Bulacan namely, Meycauayan College (MC) and La Consolacion University of the Philippines (LCUP). This study also aims to determine potential strategies to develop Dr. Yanga’s Colleges, Inc. College of Accountancy’s both present financial and academic standing.
The first section of this study shows the historical background and the company profile of Dr. Yanga’s Colleges, Inc. and College of Accountancy and other relevant information related to the college. The next sections of this study exhibits the socio-cultural, demographic, economic, technological, competition, legal, and political facts affecting and related to education specifically to the College of Accountancy. Likewise, Comparative Profile matrix and Comparative S. W. O. T. Analysis of DYCI, MC, and LCUP and a study of Porter’s Five Forces of competition among the three said rival schools offering BS Accountancy is provided.
The Comparative Profile Matrix exhibits Six (6) Key Success Factors and corresponding weights for each factor. The group rates each factor according to the strength and weaknesses of the three competing schools. After the rates were given, the group gets the weighted average for each school by multiplying the weight of the factor to the rating assigned to it and adding the scores for each factor. While in the Comparative S. W. O. T. Analysis, a profound assessment on the competing schools was made by determining the strengths, weaknesses, opportunities, and threats for each school.
Marketing Mix Analysis was also designed to differentiate the three institutions from each other. This analysis focuses on the difference of each institution in terms of the 8P’s marketing namely, the product, price, place, promotion, people, process, physical evidence, and personalization as they are offering a service-type of business. Having these three sets of comparison, the group established three objectives which correspond to the three key results areas – the sales, profits, and market share of the College of Accountancy.
These objectives are supported by the marketing strategies, action plan and controls that the group have set for the 8P’s of COA. Projected income statement for the Academic Year 2012-2013 was also provided in the last section of this study. All of these studies were made for the group’s goal for Dr. Yanga’s Colleges, Inc. College of Accountancy’s development and to bring it to market leadership. HISTORICAL BACKGROUND A. DR. YANGA’S COLLEGES, INC. HISTORY In 1950, Francisco Balagtas Academy (FBA) which was a private non-sectarian school was established by the former owners, the late Mr. and Mrs.
Gerardo Samson, Sr. Francisco Balagtas Academy (FBA) was purchased by the Yanga family during 1974 and Dr. Ismael E. Yanga, Sr. became its first President. Secondary Institution was expanded to include tertiary courses in 1977. It offered initial courses such as Midwifery, Secretarial Education, Doctor of Veterinary Medicine, Agriculture, Commerce, Nursing, Seaman Training Course and Vocational Courses. The name of the institution was changed to Dr. Yanga’s Francisco Balagtas Colleges (DYFBC) during 1987. On August 12, 1993, an investiture ceremony was held when the current President, Dr.
Marciano D. Yanga was installed as the second President of the institution. In the initial years of operation the institution has only a few hundred students but as years passed by, the College steadily grew in enrolment and gradually expanded its curricular offerings. Now, the institution offers many additional courses which are Education, Arts and Sciences, Computer Science, Computer Technology, Accountancy, Marine Transportation, Marine Engineering, Hospitality and Restaurant Management, Tourism and Caregiver Course.
The Administration decided to open Pre-Elementary and Elementary Education Departments just a couple of years ago due the increasing recognition of the school and its educational programs by the community. The school became an integral part in the formation of many young men and women of Bulacan, transforming and changing into successful practitioners in their various fields of interest. The name of the institution was changed for the second time in 2001 and became Dr. Yanga’s Colleges, Inc. (DYCI). At present, Dr.
Yanga’s Colleges, Inc. has grown into a complex of different departments/colleges with a population of over four thousand students. To date, the Dr. Yanga’s Colleges, Inc. is continually pursuing notable programs and plans which are all geared towards the successful attainment of its avowed mission. From 1974 up to the present, the school had been an instrument in providing an encompassing, relevant, quality and affordable quality education not only for the youth of Bocaue but also for many Bulakenos. Dr. Yanga’s Colleges, Inc. s not just an institution but also an inspiration because it has helped in transforming their simple lives into successful and inspiring stories and whose dreams have turned into inspiring realities today. B. COLLEGE OF ACCOUNTANCY HISTORY 1975 -The Francisco Balagtas Academy (FBA) was purchased by the late Dr. Ismael E. Yanga Sr. , named as Dr. Yanga’s Francisco Balagtas Colleges (DYFBC).
The institution offered Midwifery, Secretarial Education, Doctor of Veterinary Medicine, Agriculture, Nursing, Commerce major in Accounting and Banking & Finance, Seaman Training Course, Two-Year Junior Secretarial and Vocational Courses. 977 -The late Dr. Genera Frias became the Head of Secretarial Department. 1980 -Dr. Genera Frias became the Dean of Commerce. 1985 – Bachelor of Science in Commerce major in Accounting, Banking and Finance were given full government recognition. 1992 -Dr. Genera Frias died and Dr. Donato S. Gallego became the Dean. 1994 -Additional majors for Bachelor of Science in Commerce were approved: Marketing and Cooperative Management. 1995 – Management Accounting was approved as additional major for BS in Commerce. 2004 -Mrs. Belen B. Castillo became the acting College Secretary of CBME. 004 – Ms. Mischelle delos Reyes became the College Office Assistant of CBME. 2005 -Bachelor of Science in Accountancy was given Temporary Permit to operate for its First Year level. 2005 -Prof. Alberto C. Vagilidad became the Head in BS Accountancy. 2005 -Prof. Michael S. Yanga, MBA became the Dean of the College of Business and Management Education. 2006 -Temporary Permit for the Second Year Bachelor of Science in Accountancy was issued. 2006 -Mrs. Virginia DC. Salvador became the Director for Quality Assurance in CBME. 2007 -Dr. Donato S.
Gallego, Vice-President for Academic Affairs, became the Dean of the College of Business & Management Education. 2007 -Prof. Jenny Ann De Guzman became the College Secretary of CBME. 2007 -Temporary Permit for the Third Year Bachelor of Science in Accountancy was issued. 2008 -Bachelor of Science in Accountancy & Bachelor of Science in Business Administration under the College of Business and Management Education became two separate and distinct colleges – College of Business Administration and College of Accountancy. As to College of Accountancy, Dr. Donato S. Gallego has become the Dean, Prof. Alberto C.
Vagilidad becomes the Program Head and Mrs. Shirley Enero becomes the Secretary of the said College. 2008 -Temporary Permit for the Fourth Year Bachelor of Science in Accountancy was issued. 2009 -Temporary Permit for the Fifth Year Bachelor of Science in Accountancy was issued. 2009 -The College of Accountancy became a member of National Federation of Junior Philippine Institute of Accountants (NFJPIA) and the Junior Philippine Institute of Accountants – DYCI Chapter has established. 2010 -Prof. Evangeline Balboa became the new Program Head of College of Accountancy. 2010 -Ms. Maranelle Santos and Mr.
Mark Dendrick Cortez of the first batch graduate have successfully past the October 2010 CPA Board Licensure Examination and became the first Male and Female CPAs of DYCI. 2011 -Prof. Michael S. Yanga, MBA became the Dean of the College of Accountancy. Dr. Yanga’s Colleges, Inc. Wakas, Bocaue, Bulacan COLLEGE OF ACCOUNTANCY Faculty Members 1. Dr. Donato Gallego 2. Prof. Florinda Acuna 3. Atty. Bunrofil Altares 4. Prof. Rino Batangantang 5. Prof. Elenita Dela Cruz 6. Prof. Ferdinand Importado 7. Prof. Victoria Gonzales 8. Prof. Romeo Marcelo 9. Prof. Eleanor Ratay 10. Atty. Tricia Santos PROF. EVANGELINE A. BALBOA
Program Coordinator HANNAH CHARMAINE ESTRELLA Student Assistant MS. SHIRLEY C. ENERO Office Assistant MR. MICHAEL S. YANGA, MBA Dean C. RELEVANT INFORMATION ABOUT THE INSTITUTION OUR VISION Dr. Yanga’s Colleges, Inc. (DYCI), a family-owned stock educational institution, shall establish a competitive advantage by promoting academic excellence by its proactive stance in instruction, research and extension services, and through continuous development of its programs towards local and international recognition. We shall maintain empowered professionals committed to sustained competence and basic respect for human dignity.
Under Providential Guidance, we shall create a conducive and harmonious atmosphere of belongingness marked by open communication, trust and integrity. OUR MISSION We embrace the following commitments to our valued stakeholders, our reasons for being, to actualize our vision towards promoting academic excellence. FOR OUR STUDENTS, we shall undertake economic and extra-curricular activities towards their wholistic development and their integration in a dynamic society as functional members of the labor force. FOR THE FAMILIES, we shall foster partnership in molding the character of our students through value-driiven programs.
FOR OUR EMPLOYEES, we shall facilitate continuous development through appropriate trainings and values formation. We shall provide just and fair recognition and reward in an environment of mutual cooperation and teamwork. FOR THE INDUSTRY SECTOR, we shall develop highly competent, skilled and ethical graduates in response to its technical, professional and entrepreneurial needs. FOR THE STATE, we shall uphold the spirit of good governance and high standard of excellence in our operations as vital tools in nation building. We shall make our services accessible to all. INSTITUTIONAL GOALS AND OBJECTIVES Govern and manage with probity, strategic, vision, financial control, utilization of risk management and effective mentoring of performance * Enhance the professionalism and competence of the faculty continually through the promotion of meaningful delivery, values formation and highly functional research program * Facilitate the holistic development of students through the adoption of curricular programs attuned to current trends and relevant technical trainings and c-curricular activities * Enhance relations with the community through networking and linkages and purposive extension programs * Promote judicious management or resources through hiring of qualified faculty and staff, the use of ICT, state-of-the-art facilities and generation of innovative teaching-learning devices CORE VALUES The following are the three core values of Dr. Yanga’s Colleges, Inc: VERITAS (Truth) SAPIENTIA (Wisdom) CARITAS (Charity) FIDES (Fidelity) EXCELLENTIA (Excellence) PATRIA (Patriotism) VISION
The College of Accountancy envisions itself in developing in its students a culture of excellence in the field of business, Entrepreneurship, Research and Consultancy Services. MISSION The College of Accountancy (COA) commits itself to the following mission statements: 1. Develops curricular offerings responsive to manpower demand for both local and international market. 2. Devices a policy to achieve Quality Education through Quality Teaching and Quality Learning. 3. Design a policy o continuous enrichment/revision of curriculum to ensure a high passing percentage of its graduates in the CPA Licensure Board Examination. 4. Institutes a program for development of all accountancy students centering on religious, social, political and ethical consciousness. 5.
Instill in the mind of every graduate the value of Honesty, Integrity and Justice in the practice of their profession. 6. Trains the students in preparing Feasibility studies (FS) and Business Plans (BP) to hone their potentials of their profession. 7. Develops a year-round Faculty development program to enhance their teaching competencies, strategies and professional leadership. COA’s PRODUCT of EXCELLENCE For the seven years of operation, DYCI COA has already produced CPAs. A proof that even it is amateur in the industry, still, it can compete with other schools producing higher percentage of board passers. The CPA Board Licensure Examination Passers, who gave pride and honor to COA, are the following:
October 2010| May 2011| October 2011| Mr. Mark Dendrick Cortez| Ms. Ma. Cecilia Estrella| Mr. Elizar Buenaventura| Ms. Maranelle Santos| | Ms. Jennifer del Rosario| MACROENVIRONMENT ANALYSIS A. SOCIO-CULTURAL * Educational Belief Some words from Dr. Jose Rizal stressed the importance of education to a person’s life especially to the youth. Giving much importance to education is not only a responsibility of the parents; it is already part of our culture. Generally, parents do everything, especially those families from the marginal sector, just to send their children to school because they believe that the greatest thing they could ever leave to their children is education.
This part of the Filipino culture is a big factor to the success or prosperity of COA because in the Philippines, CPAs are viewed as successful people and that is what most parents and students are dreaming to be successful someday. * Economic Progress In the Philippines, when you say CPAs, they are successful, rich people and that is what everyone wants to be. Students will take up Bachelor of Science in Accountancy in the belief that after studying and passing the board exam, they will be living a prosperous life and will never experience poverty again. * Change in Status and Gaining a Good Reputation Social and economic status is a big deal in the Philippines.
The public gives more admiration and respect to people who finished college, people who have degrees, and people who are in the professional standing. That is one reason why parents strive hard to raise up professionals in their family to gain respect from other people. Because a reputation is given much importance in the Philippines, families do not want their name‘s to be put into shame. * Parents Belief Some people want their legacy to continue to every generation in their family. For example, a family of CPAs would normally push their children to follow their footsteps toward success. But there are also children who willingly take up the same course because they were inspired by the success of their parents as CPAs.
Even t were experiencing poverty strive hard to send their children to college with the belief that if their children will finished, they would be living a better life in the future and they will be leaving something good to their children. * Global Competitiveness Filipinos are very skillful and talented. Many Filipinos have proven it, but globally, Filipinos are known as domestic helpers, caregivers, taxi drivers and welders. That reality is not bad, but still not so good. Now is the time for Filipinos to prove to other countries that they can excel not only in skill-based jobs but also to much higher kind of professions such as judicial, managerial management and accounting professions because Filipinos really do it.
Filipinos must prove that they can compete globally and can reach greater heights in the global industry. There is a call to every Filipino for nation transformation and economic progress, and future CPAs will be a great part of this goal. This is the time to gain more respect from other countries and to redeem the Philippines from crisis debts and downfall towards national and global competitiveness and progress. B. DEMOGRAPHIC As of June 31, 2011, GeoNames geographical database projected Bulacan population to be approximately 3 million. There is an almost equal ratio of men and women, 50. 2% and 49. 8% respectively or a ratio of 101 males and 100 females. 62. % represents Bulakenos whose ages range from 15 to 64, also called as the working age group, 34. 1% are young dependents while the remaining 3. 8% are old dependents. In Bulacan, more females pursue higher level of education than males. The proportion of females among academic degree holders is 57. 1%. This shows that COA gets a larger market share from the female sector. C. ECONOMIC Poverty is one big reason why many families cannot afford rending their children to school especially to colleges. Records from National Statistic Coordination Board show that there was a slight reduction from 21. 1% in 2006 to 20. 9% in terms of poverty incidences among Filipino families.
This means that 2 out of 1,000 families were lifted out of poverty between 2006 and 2009. This improvement in the poverty incidence among Filipino families is a good news but still 99% belongs to the poverty level. This means a lot more work and efforts from the government. The latest official poverty data indicate that a Filipino needed P978. 00 to meet his/her monthly food necessity and P1,403. 00 to stay out of poverty. NSCB records also show that a family of five members needed P4,869. 00 monthly income to meet their basic food necessity and P7,017. 00 to stay out of poverty. Seeing this information, one can conclude that parents having a child spending an average of P60,000. 0 a year for his/her allowance, projects and tuition fees must earn P9,869. 00 a month. The assumption looks slightly ideal because a minimum wage earner for example in Bulacan earns P404. 00 a day or P9,696. 00 a month. There is just a deficit of P173. 00 for a family having a breadwinner earning minimum wage to meet the actual need for the families’ food and the child’s education. But, the reality is that, each child must spent more than P60,000. 00 a year to afford quality education. Clothing, housing and other miscellaneous expenses such as water and electricity bills should also be considered for a family to live life out of poverty threshold.
This reality happening until today is a problem that the government and all the Filipinos have to work out because as long as there is poverty, quality education can never be attained by all the Filipino youth especially those from the marginal sector. One reason of poverty is unemployment, if minimum wage earners cannot give their children quality education, how much more those unemployed. NSBC report as of January 2011 shows that 7. 4% or 14 Million people are currently unemployed 62. 7% of these are males and 37. 3 are females. Almost half of 48. 9% were in age 15-24 years or those who are still dependent to their parents for their daily living and 50. % or 502 million Filipinos who can already be employed are not employed. If this unemployment rate can be solved or even be improved, poverty can be reduced within the Philippines. D. TECHNOLOGICAL The technological advancements in the DYCI’s College of Accountancy are not widespread. This is because COA is only new in the industry. The purpose of accounting is to provide information used in decision making. Accounting may be viewed as a system (a process) that converts data into useful information. The technology available today has made a wealth of knowledge available to students, which offers great potential for the speed and style of learning.
Information is presented in so many ways that any type learner, whether gifted or disabled, can find and use the necessary material. This fact relates not only to the Internet, but to all the many technological improvements in learning, from smart boards to handheld dictionaries. The college can use tutorials, techniques and software for the benefits of the students. The Computer Accounting program provides students with training in manual and computerized accounting systems. Students are educated in the concepts of accounting principles, managerial accounting, intermediate accounting, payroll, taxation, and auditing. Hands-on experience is gained in the use of accounting systems software.
Students also receive practical instruction in Microsoft Office business applications with extended emphasis on Excel and Access. The mission of the Computer Accounting program is to provide a quality education in computerized accounting that will enable students to succeed in a career now and in the future. Moreover, using accounting software can help students develop high-order cognitive skills because it encourages them to actively participate in applying theory to real-life situations. TRAINING * ACELAB- Accounting Center for Electronic Learning and Business Measurement is usually packed with undergraduate and graduate students working on fast-paced accounting tutorials.
Many of Bentley’s top accounting majors work in the ACELAB, providing individual tutoring services to assist students through the sometimes challenging areas of accounting. The objectives of the ACELAB are: * To integrate technology into current and developing accounting courses * To form partnerships with business and not-for-profit entities who can provide software and case materials for student use * To help students become the “whole business person. ” Just as a sampling of what goes on in the ACELAB, students in the introductory accounting courses get hands-on experience with commercial accounting software such as Peachtree. Establishing customers, entering sales, and recording entries allow students to understand how technology eases the flow of information up through the financial reports.
Accounting students use electronic research software such as FARS to help develop well-thought out and documented conclusions to complex reporting issues. The ACELAB helps the student in becoming the “whole business person” by integrating teaching materials with other departments to improve communication skills and interdisciplinary cases so that students learn how to develop and communicate meaningful accounting information. The AICPA Vision Statement amplifies this by stating that the accountant’s role is: * Communicating the total picture with clarity and objectivity * Translating complex information into critical knowledge * Anticipating and creating opportunities * Designing pathways that transform vision into reality TECHNIQUE
The overall objectives and scope of an audit do not change when an audit is conducted in a computer information systems (CIS) environment. The application of auditing procedures may, however, require the auditor to consider techniques known as Computer Assisted Audit Techniques (CAATs). * CAATs- It uses the computer as an audit tool for enhancing the effectiveness and efficiency of audit procedures. CAATs are computer programs and data that the auditor uses as part of the audit procedures to process data of audit significance, contained in an entity’s information systems. Computer Assisted Audit Techniques (CAATs) are important tools for the auditor in performing audits. CAATs may be used in performing various auditing procedures, including the following: Tests of details of transactions and balances, for example, the use of audit software for recalculating interest or the extraction of invoices over a certain value from computer records; * Analytical procedures, for example, identifying inconsistencies or significant fluctuations; * Tests of general controls, for example testing the set-up or configuration of the operating system or access procedures to the program libraries or by using code comparison software to check that the version of the program in use is the version approved by management ; * Sampling programs to extract data for audit testing; * Tests of application controls, for example, testing the functioning of a programmed control; * Reperforming the calculations performed by the entity’s accounting systems. SOFTWARE/SYSTEM External, internal, and government auditors increasingly use audit software to improve the efficiency and effectiveness of audits.
Incorporating technology such as generalized audit software into the classroom not only exposes students to “tools of the trade,” but, more importantly, also facilitates student learning of audit concepts and procedures. Accounting students must get exposure to technological tools of the trade such as spreadsheets, accounting packages, database software, and online research resources. Incorporating audit software into the curriculum helps complete this toolkit and prepares students for the content of the computer-based Uniform CPA exam. Audit software activities become more relevant, allowing students to gain a better understanding of the software and studied environment. * ACL (Access Control List) and IDEA (Interactive Data Extraction and Analysis)- are the most common commercial GAS packages.
Both external and internal auditors use these packages for data extraction, data analysis, and fraud detection/prevention. Both ACL and IDEA provide a broad spectrum of data analysis and extraction functions. Users can easily sort, summarize, stratify, age, and calculate data statistics. Users can extract records by setting data filters. Both software packages also permit the selection and evaluation of samples using a number of methods. Users can examine files for duplicates, gaps, and proper sequences. The packages allow the comparison of multiple files, creation of new files, customization of reports, and documentation of audit tasks in several different ways. Users can also save commands in batches for repeated use.
Both ACL and IDEA have the ability to sample. The IDEA Workbook, however, covers only random record sampling. On the other hand, the ACL Workbook has a much more extensive coverage of sampling. While auditing classes may expose some students to sampling, often they do not calculate, select, and evaluate samples using statistical methods (e. g. , MUS). When using statistical commands in ACL, the instructor should emphasize understanding statistical terminology, knowing which statistical applications are appropriate for which audit objectives, and interpreting ACL evaluation reports. Sampling is one of the more advanced applications of audit software and takes some repetition to master.
McCollum and Salierno (2003) report that 51 percent of internal auditors surveyed use software, including ACL and IDEA, to detect fraud. (1) The IDEA Workbook devotes an entire chapter to using IDEA to detect fraud, making it easy to incorporate fraud into the curriculum. Section 3 of the IDEA Workbook has students complete an audit and fraud investigation for accounts payable. The IDEA Workbook explains how fraud is committed in accounts payable, outlines needed audit tests, and then requires students to complete a series of exercises designed to uncover fraud. Though the ACL Workbook provides only limited reference to using ACL for fraud detection, ACL and IDEA both provide similar fraud detection capabilities.
Examples of tasks that can be applied in a fraud detection context include stratifications, extractions, duplicate key detections, joining of databases, and application of Benford’s Law. E. COMPETITION With the growing demands for BSA graduates, schools which are offering the course also increase. Thirteen schools around Bulacan are also offering Bachelor of Science in Accountancy (BSA) namely: * Meycauayan College * St. Mary’s College of Meycauayan * La Consolacion University of the Philippines (formerly known as University of Regina Carmeli) * Baliuag University * ABE International College of Business and Accountancy * Colegio de San Pascual Baylon (formerly St.
Pascual Institution) * College of Mary Immaculate * College of St. Lawrenc * Fernandez of Arts and Technology * Polytechnic University of the Philippines * Saint Paul College of San Miguel * Sto. Rosario Sapang Palay College * Bulacan State University Because of this, it can be concluded that the competition between these schools is very strong. BU, MC, and LCUP are the major competitors of DYCI in offering BSA because they are already established and has produced many CPAs. While the College of Accountancy in DYCI is just starting, it is not yet established, that is why other schools especially the three mentioned can easily enter its market share.
Another university which is one of the toughest competitors of DYCI is BSU. It started its operation in offering BSA just this school year. Since BSU is a public university which also offers low tuition fee, this could eat a large percentage of other school’s market share because incoming college students prefer a school which provides quality education at an affordable price. The competition that the College of Accountancy is facing is not only for the schools which render the same course but also from other most in demand courses like BS in Information Technology and from vocational courses offered by the Technical Education and Skills Development Authority (TESDA).
Because of this, it can cut the total market share of BSA in Bulacan and as a consequence, the market share of College of Accountancy in DYCI will also be affected. Because of the close and tight competition, College of Accountancy is very in need of good marketing strategies and action plan to defend and expand its market share. The competition that the College is facing must serve as a threat so that continuous improvement will happen. F. LEGAL-POLITICAL There are also legal basis on the operation of schools offering BSA. One is CHED Memorandum Order (CMO No. 03 or the Revised Policies and Standards for Bachelor of Science in Accountancy). This is in accordance with the pertinent provisions of Republic Act (RA) No. 7722, known as the “Higher Education Act of 1994”.
Its purpose is to locally adopt the International Education Standards in Accounting Education as prescribed by the International Federation of Accountants with the aim of keeping standards in accounting education in the country comparable with the requirement of the global workplace. It has sixty four (64) sections and sixteen (16) articles catering the rules, regulations and standard procedures for the operation of Bachelor of Science in Accountancy such as competency standards, faculty and administration, curriculum, library, instructional standards, admission and retention standards, research, linkage and affiliations, performance for graduates standards, and others. INDUSTRY ANALYSIS A.
COMPETITIVE PROFILE MATRIX (CPM) The following are the key success factors that colleges and universities should possess: 1. Affordable School Fees – School fees should be reasonable and payable. It includes tuition fee, miscellaneous fee, and other fees. 2. Strategic Location – The place of the school should be within reach and close to its potential target market. 3. School Facilities – The school should be highly facilitated and conducive for learning. 4. Scholarship – The school should grant scholarships to deserving students. 5. Faculty –The school should provide competent and highly qualified professors that will provide students with quality education. 6.
Popularity/ Positioning/ Promotion – An impressive status of colleges and universities in the minds of its target market should be established. Promotional strategies should be carried out to make the target market aware of the product. Dr. Yanga’s Colleges, Inc. College of Accountancy Wakas, Bocaue, Bulacan Rating: 1 – Major weakness 2 – Minor weakness 3 – Minor strength 4 – Major strength Key Success Factors| | DYCI| MC| LCUP| | Weight| Rating| Score| Rating| Score| Rating| Score| 1. Affordable School Fees| 0. 25| 4| 1| 4| 1| 3| 0. 75| 2. Strategic Location| 0. 15| 4| 0. 60| 4| 0. 60| 3| 0. 45| 3. School Facilities| 0. 0| 3| 0. 30| 3| 0. 30| 3| 0. 30| 4. Scholarship| 0. 20| 4| 0. 80| 3| 0. 60| 3| 0. 60| 5. Faculty| 0. 15| 3| 0. 45| 4| 0. 60| 4| 0. 60| 6. Positioning/Promotion/Popularity| 0. 20| 3| 0. 60| 3| 0. 60| 3| 0. 60| Total weighted score:| 1. 0| 3. 75| 3. 70| 3. 30| The Competitive Profile Matrix (CPM) shows that the College of Accountancy of Dr. Yanga’s Colleges, Inc. (DYCI) got the highest total weighted score of 3. 75 over its competitors who only got a total weighted score of 3. 70 for Meycauayan College (MC), and 3. 30 for La Consolacion University of the Philippines. The CPM summarizes the strengths and weaknesses of each institution.
Given the ratings and weight for each key success factors, a conclusion ascertains that the DYCI performs best compared to the two other schools. The table shows that with respect to school fees, DYCI and MC offer much affordable fee compared to LCUP. DYCI’s and MC’s tuition fees are Php 420. 92 per unit and Php 552. 00 per unit respectively which are relatively lower compared to LCUP’s Php 687. 06 fee per unit. As regards to the location, both DYCI and MC are strategic since it is along the McArthur highway and both are close to its target market. On the contrary, LCUP’s location is not that advantageous since the locality is isolated. As regards to the facilities, the three schools got similar scores since the differentiation is insignificant.
Regarding the scholarship, DYCI got the highest score as it offers more scholarships like Academic Scholarship, MSY Scholarship, Family Council Scholarship, Athletic Scholarship, Student Assistant Scholarship, and other Special Scholarships and discounts grant to deserving students compared to the two schools. As regards to the faculty staff, MC and LCUP got the highest rank while DYCI got the second high rank. It is for the reason that professors in MC and LCUP are much more competent and highly qualified than professors of DYCI. And lastly, if the positioning, promotion and/or popularity are to be considered, the three schools will rank equally since MC and LCUP’s popularity and positioning is high because they are established schools already while DYCI’s popularity and promotion is also high since it has a strong marketing strategy making the school popular.
B. Medium Medium Medium High High Bargaining Power of Customers Rivalry Among Competitors Threat of Substitute Products Entry of New Competitors Bargaining Power of Suppliers PORTER’S 5 FORCES OF COMPETITION Rivalry among Competitors The rivalry among competitors is high. Several colleges and universities in Bulacan offer BS Accountancy. The issue of competition is deemed to be within the performance of the schools’ BSA program, and the cost. The student may perhaps prefer schools that has a well established BSA program and has recognizable brand equity. In relation to that, an assumption determines that DYCI’s main competitors are MC and LCUP.
Undoubtedly; MC and LCUP has tough brand equity on quality education since both schools have been in the industry for a long time and have proven the superior quality of its BSA program as scene on the above National Passing Percentage of its Board Passers. In connection with the cost, competition is also high. Although DYCI offers affordable tuition fee, still there are others schools like public colleges or universities that offers much lower fees. Potential Development of Substitute Products The potential development of substitute products is high. Substitution is inevitable since school offers variety of courses to the students that are in fact, in demand nowadays.
The student may opt to choose short term courses that give them the same opportunity as what BS Accountancy provides. The student may prefer courses like BS Hotel and Restaurant Management, BS Nursing, BS Tourism, BS Marine Transportation and/or BS Information Technology, as it will open their future careers abroad. Likewise, the student may choose government’s academic programs like TESDA which offers free vocational courses and where job is assured. Considering these alternatives, a conclusion is made that substitution is easy. Potential Entry of New Competitors The larger the investment and other resources needed to enter the industry, the lesser the possibilities that new competitors will penetrate the market.
In reality, establishing colleges and universities is costly as it requires huge investment of financial, human, technical and marketing resources. Considering this fact, the threat of new entrants is very minimal. However, existing colleges or universities which haven’t yet offered BS Accountancy may be considered as potential new competitors. Those schools might apply to offer the program in the future that would result to another competition. Other factors that should be considered in determining the potential entry of new competitors are to understand the economies of scale and to establish product differentiation. The economies of scale prevent entry of new competitors as it may lead them to cost disadvantage.
For instance, a new competitor may be deficient in the size of market resulting to more costs and less profit unlike if it has a larger number of markets where the costs spent may be compensated by the proceeds and the excess results to more profit. Similarly, the product differentiation deters entry of new competitors. It states that once the brand image is formed, then it is difficult for any other firm to introduce new brand into the market unless it has low price and superior quality. Considering those issues, threats of new competitors is said to be at the medium. Bargaining Power of Suppliers A firm technically may charge high prices for any act, performance, or service it renders to customers. A firm employing a product orientation is chiefly concerned with the quality of its own product.
A firm has a high power in bargaining when it believes that as long as its product has high standards and quality, customers would still buy and consume the product. But in case of DYCI, intensity of supplier’s power is at medium level. The school cannot have a high increase in tuition fees because the large percentages of its target market are indigent students and it holds that in order to maintain its target market, the school should anticipate the needs and wants of costumers and satisfy these more effectively than competitors by making the tuition fees more affordable as much as possible for its current target market compare to other schools who have very high tuition fees.
Bargaining Power of Customers Bargaining power of customer is the ability to influence the setting of prices. Customers exercise more power when they are large-volume buyers, the importance of product and services of someone else or other firms. The intensity of the bargaining power of customers of DYCI is medium. Even there were increases on the percentage of volume of BS Accountancy students every school year, it’s still not material to make the customers’ power high. Because of the social status of the customers, they don’t have the financial ability or choice to switch to other schools who offer high quality education with corresponding high tuition fees.
BS Accountancy course costs about P17,867. 43 in total amount of tuition fee and other fees for first year students compare with other schools with much lower fees such as BSU,PUP Sta. Maria, CSL, and others, but still the students choose DYCI where incoming first year students have the large number in the volume of COA enrollees because the school has quality education despite of its low tuition fees. Dr. Yanga’s Colleges, Inc. College of Accountancy Wakas, Bocaue, Bulacan Marketing Mix (8P’s)| DYCI| MC| LCUP| 1. Product| BS in Accountancy| BS in AccountancyBS in Accounting Technology| BS in AccountancyBS in Accounting Technology| 2. Price| Tuition Fee: Php 420. 2 per unit| Tuition Fee: Php 552 per unit| Tuition Fee: Php 687. 06 per unit | 3. Place| Wakas, Bocaue, Bulacan| Meycauayan City, Bulacan| Malolos City, Bulacan| 4. Promotion| * Tarpaulin * Leaflets * School Campaign * Word of Mouth * Campus website| * Tarpaulin * Brochure * Official Website * Word of Mouth| * Tarpaulin * Brochure * Official Website * Word of Mouth| 5. People| * Professors are highly qualified. * Professors are CPAs. | * Professors are competent and highly qualified. * All Professors are CPAs and have masters’ degree and/or doctoral degree. * Major subjects’ professors are full-timer. * Professors are competent and highly qualified. * All professors are CPAs, MBAs and/or Lawyers. * Half of the professors are full-timer. | 6. Process| 1. Fill out the Admission Form at the Student Personnel Services Office. 2. Pay the entrance examination fee at the College Cashier. 3. Go back to the Student Personnel Services Office, present the receipt and take the entrance examination and the entrance interview. 4. Submit the requirements placed in long brown envelop to the respective College Offices. 5. Get a Certificate of Matriculation (COM) to the College Office Assistant and fill out the needed information. 6. Get a student number at the Registrar’s Office. 7.
Submit the COM and pay at least 50% of the total enrollment fee to the College Cashier. | 1. Proceed to the Registrar’s Office for approval of the following requirements: Form 138 (Report Card), Certificate of Good Moral Character, two 1”x1” ID picture. 2. Take the entrance examination at the Guidance and Testing Center. | 1. Submit the following requirements to the Registrar’s Office: Form 138(Report Card), Original copy and Photocopy of Birth Certificate, Certificate of Good Moral Character, four 2”x2” ID picture. 2. Take the University Entrance Examination. 3. Have the interview with the Dean of Student Affairs and Departments’ Dean. | 7.
Physical Evidence| * School UniformMale: Violet polo and Black pantsFemale: Violet Blouse and Charcoal Gray Slacks * Identification Card * Classrooms and other school facilities * College Logo| * School UniformMale: White polo and black pantsFemale: White long sleeve and black skirt * Identification Card * Classrooms and other school facilities * College Logo| * School Uniform * Identification Card * Classrooms and other school facilities * University Logo| 8. Personalization| Provides various case studies and problems solving to expose students to the true nature of a situation and evaluate applicable principles and techniques. | * Competent and highly qualified professors are made available to deliver quality education. * Implement Retention Program. | * Implement Computerized Accounting. * Implement Retention Program. Competent and highly qualified professors are made available to deliver quality education. | Marketing Mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. In service, marketing mix refers to the 8P’s – Product, Price, Place, Promotion, People, Process, Physical Evidence, and Personalization. The table above displays the comparison of the marketing mix of the DYCI, MC, and LCUP. If the product is to be taken into account, MC and LCUP is more advantageous since it provide options for the target market, that is to take BS Accountancy or to take BS Accounting Technology which becomes a disadvantage for the DYCI because it can only offer BS Accountancy.
Apparently, the market will prefer schools that will provide them choices. As to the price, the target market may possibly prefer schools which offer low tuition fee. In this case, DYCI has a great possibility of obtaining the market since among the three, DYCI offers much economical price for the target market. As regards to the promotion, DYCI is considered to be the most aggressive as scene in its promotional strategies such as Advertising, in the form of tarpaulins and leaflets, Personal Selling through school campaign, and Direct Marketing using the school’s official website. As regards to the people, professors in MC and LCUP are deemed to be more competent and highly qualified.
With regards to the process, students applying in DYCI will go through several procedures before admitting into the college, while in MC and LCUP, it only takes a few process for the admission of students. Thus, the process for admission is more convenient in MC and LCUP. Physical evidence is the material part of the service. It also serves as a means of marketing communication. The physical evidences used by the schools are its uniform, identification card, classrooms and other facilities and the logo. Last is the personalization of the schools. Personalization means adding services that will meet the market’s particular needs or preferences. Each school has different personalization. In this case DYCI focuses on providing its students with various case studies and problems solving to prepare the students for their future careers.
On the other hand, MC differs itself from others by providing the students with competent and highly qualified professors that will meet the demand for quality education and also by implementing Retention Program. Likewise, LCUP provides the students with competent and highly qualified professors; implement Retention Program; and use Computerized Accounting System for education which makes it unique from others. Dr. Yanga’s Colleges, Inc. College of Accountancy Wakas, Bocaue, Bulacan | DYCI| MC| LCUP| Strengths| 1. Affordable tuition fee 2. Various scholarship programs 3. Strategic Location 4. Highly Qualified professors 5. Quality education 6.
Continuously increasing income 7. Availability of rooms 8. Availability of speech and computer laboratories 9. Challenging course requirement (marketing plan, research papers, case analysis) 10. Participation of students in various extra-curricular activities and programs 11. Strong student-faculty relationship 12. Affiliated with NFJPIA 13. Review in ReviewCenters is included in the Curriculum| 1. Tough Brand Equity 2. Competent and highly qualified professors 3. Major Subject Professors are full-timers 4. High quality education 5. Availability and sufficient number of Accounting and Accounting-Related Books in the Library 6.
Triumph of students to external and inter-collegiate activities 7. Affiliated with NFJPIA 8. Strategic Location 9. Having refresher subjects in the last semester of BSA Program| 1. Tough Brand Equity 2. Competent and highly qualified professors 3. University Status 4. Implement Computerized Accounting System for Education 5. Affiliated with distinct business and schools organizations 6. 50% of the professors are full-timers 7. High quality education 8. Triumph of students to external and inter-collegiate activities 9. Has separate marketing department 10. Having refresher subjects in the last semester of BSA Program| Weaknesses| 1. Less full time faculty members 2.
Unavailability and insufficient number of updated Accounting and Accounting-Related Books and review materials in the College Library 3. Absence of Computerized Accounting System for Education 4. Insufficient co-curricular Accountancy-related activities such as seminars and workshops 5. Insufficient rooms for Accountancy 6. Untrained participants for Accounting Quiz Bowls and other intercollegiate activities 7. Lack of communication skills development program 8. Absence of refresher subjects in the curriculum of BSA Program| 1. Poor Marketing Strategy 1. Absence of Computerized Accounting System for Education 2. Lack of communication skills development program 3. Review in ReviewCenters is not included in the Curriculum| 1.
Non-Strategic Location 2. Insufficient number of updated Accounting and Accounting-Related Books in the Library 3. Insufficient co- curricular Accountancy-related activities such as seminars and workshops 4. Lack of communication skills development program 4. Review in ReviewCenters is not included in the Curriculum| Opportunities| 1. Potential course accreditation 2. Application for University Status 3. Potential affiliations to distinct business and school organizations 4. Potential enrollees from DYCI H. S. Department and nearby 5. Potential enrollees from nearby high schools having Accounting subjects as Electives 6.
Industry Demand for BSA graduates 7. Potential offering of BS Accounting Technology| 1. Potential affiliations to distinct business and school organizations 2. On going accreditation for IQUAME 3. Potential enrollees from MC H. S. Department 4. Potential professors from MC Graduate School Department 5. Industry Demand for BSA graduates| 1. Industry Demand for BSA graduates 2. Potential enrollees from LCUP H. S. Department 3. Potential professors from LCUP Graduate School Department| Threats| 1. Establishment of new institutional schools 2. Close competition with other colleges and universities in and out of Bulacan offering BS Accountancy 3.
Firm competition with TESDA, vocational and other in demand courses like BSBA, BSIT, BSHRM and others. 4. Pursuance of K12 educational system in the Philippines| 1. Establishment of new institutional schools 2. Location of Rival Schools are near the campus 3. Firm competition with TESDA, vocational and other in demand courses like BSBA, BSIT, BSHRM and others. 4. Pursuance of K12 educational system in the Philippines| 1. Establishment of new institutional schools 2. BSA offering by Bulacan State University 3. Firm competition with TESDA, vocational and other in demand courses like BSBA, BSIT, BSHRM and others. 4. Pursuance of K12 educational system in the Philippines| Strengths Dr. Yanga’s Colleges, Inc.
College of Accountancy’s major strengths are various affordable tuition fee, scholarship programs and strategic location compared with most of the other colleges and universities in and out of Bulacan. Despite of having affordable tuition fee, the school still caters a quality education for the students because even though the College of Accountancy of DYCI was only established on 2005 compared with others, the school has already produced CPA Board Examination Passers for 2 consecutive years. The students are being trained to make and solve course requirements such as marketing plans, research papers and allot of case studies for the students to improve their analytical skills and to learn different techniques and approach to solve business and financial problems.
Most of the professors of DYCI’s College of Accountancy are masters in their own fields, accounting professors are all CPAs and most of the accounting professors were graduates and part-timers of elite and popular universities like University of the East, Ateneo de Manila University, De La Salle University, and others, where in, what these professors learned from the graduate schools are being shared with the students. The school has strong student-faculty relationship, where in the professors are always motivating the students to give their best all the time and to boost their confidence and focus themselves in studies. The school offers many scholarship programs to give chances to deserving but less fortunate students for them to enter and finish college and help the students in transforming their simple lives into successful and inspiring stories and to make their dreams inspiring realities.
The school has strategic location because it is along Mc Arthur Highway and it is easy to go and find its location for those who want to inquire and it is near from different municipalities and cities of Bulacan like Bocaue, Sta. Maria, Marilao, Meycauayan, Balagtas, Guiguinto, Malolos, and others. BS Accountancy students of DYCI are also actively participating in the seminars, talks and other extra-curricular activities, through these, the students will undertake towards wholistic development and integration in dynamic society as functional members of the labor force, also the students would gain knowledge about the real world of accounting, the opportunities they can grab after graduating and passing the CPA Board Examination and all the benefits and advantages they could get.
DYCI has also strengths with comes to facilities such as a big and conducive Library, Audio-Visual rooms, covered court, several comfort rooms, food court, student lounge which is a Wi-Fi zone, medical and dental clinic, science, speech and quality computer laboratories, and availability of air-conditioned rooms from other colleges and H. S department. Weaknesses Despite of the multiple strong points that DYCI’s College of Accountancy has, it still has imperfections and weaknesses that are needed to be develop and pay attention. First is that most of the professors are only part-timers that can loss the advantages that the college and students can get from having full time professors.
This affects the schedules of the students since part-timers are only available to have class during weekends and late hours which is practically not that practical for the students, hence it results an unorganized schedules for most of the students. Due of having more part-timer professors, participants for Accounting Quiz Bowls and other inter-collegiate activities were not getting place in the accounting competitions because they don’t have full time professors be their trainer, what they only have are part-timers who have specific schedule for their subjects and they will not go to DYCI if they don’t have classes. Unlike other colleges and universities which are allotting time for the review and training of their participants by the appointed full time professors.
The solution for these two weaknesses is hiring more full time professors by using the Strength Number 6 of DYCI which is having continuous increasing income due to increasing population of Accountancy Students every year. Lack of communication skills development program is another weak point of the college. Even though accountants are office persons or always facing accounting materials such as ledgers and journals, communication and speaking skills are still important for accountancy students. A study about the communication skills of accounting graduates entitled “An Analysis of the Business Communication Skills Needed by Entry-Level Accountants” was performed by David S.
Christensen and David Rees of Southern Utah University which state that “Recent surveys of employers of accounting graduates confirm that communication skills are important in preparing students to work as accountants (Lee and Blaszcynski 1999, Lau and Rans 1993). Lee and Blaszcynski surveyed Fortune 500 executives regarding skills needed by entry-level accountants. Seventy-one respondents felt that accounting knowledge was most important, with communication skills second. Similarly, in a survey of accounting alumni, Lau and Rans reported that communication skills were ranked more important to career success than interpersonal skills, intellectual ability, technical accounting knowledge, and general business knowledge. ” The curriculum of the college only includes English subjects about writing and absence of speech and communication subject.
Despite the fact that the students were given the chance to stand in front of the class through reporting or case study defense, still, the training for communication is not enough. The students still find speaking and writing in English entirely difficult. The answer for this problem is implementing communication skills development program by using the Strength Number 8 which is having a speech laboratory. Another weakness of DYCI’s College of Accountancy is lack of computerized accounting systems for education compared with other institutions who offers computerized accounting and BS Accounting Technology. DYCI has computer laboratories with updated and quality set of computers, therefore the college of Accountancy can revise its curriculum for I.
T subject to be more related with accounting and to be more productive. The college can implement this by using their big income or funds. Even though the school has a big and conducive College Library, still, it does not have available and sufficient number of updated Accounting and Accounting-Related Books review materials. This is a very important area because Accountancy students do not just gain knowledge from their professors but also from reading different Accounting books that could help them to further understand accounting lessons and also availability of review materials is significant not only for 5th year student but for all level to have advanced readings.
The college could obtain this by asking free books from NFJPIA or by buying latest quality books for accounting, accounting-related books and review books. The college can join the relevant seminars that will be organized by the NFJPIA and the JPIA officers of College of Accountancy could arranged workshops where in the students could gain knowledge and benefits. Having not enough classrooms owned by the college is another weakness of COA. The college only has rooms as its officially owned classrooms. It is not workable for the 200 plus students which can be felt especially during make-up classes and examination period which college finds it difficult and time-consuming to look for a vacant room to do the make-up class since it is out of the schedule.
This problem can be solved by making a well distribution of classrooms of other courses and even the H. S. department to maximize the use and accommodation of all the classrooms which is Strength number 7 of DYCI. Opportunities The College of Accountancy has large quantity of opportunities that will make the population of Accountancy bigger and will further improve the quality education that the school is offering. The application for having University Status of DYCI and the course accreditation could provide advantages for the school. It can bring wider job opportunities because a reputable university gives a bit of an edge over the others in the job market.
As employers have this perception of the students getting the excellent amount of knowledge and skills from the accredited courses or schools which mean that students are more competent to get the job done. Employers would also think that students are able to handle the pressure because they came from a highly competitive university. Furthermore, many people have high regards for accredited courses and universities and this sets the students apart from other applicants. Second is getting a high quality education. A course or school that is accredited means they have met the standards that the Commissioners of Higher Education has set. A school could never be accredited with a poor education system and if they don’t have the needed facilities to enhance a student’s mind.
Universities such as Harvard, Yale, and Columbia University have the state of the art facilities and have the best education system. You can also find the finest faculty members in their school. These universities are one of the top accredited schools throughout the world and it is no wonder why students dream of entering their school grounds because of the amount of knowledge, training and skills that you can learn from them. Accreditation will result to easier affiliations to distinct business and school organizations not only here in Bulacan but nationwide and even worldwide, through these affiliations the reputation of the school will raise and could bring competitiveness for the school.
There is a high probability that high school graduates from DYCI would take their tertiary level in the same school because they are already comfortable with the environment and they will not be needing adjustment and also the fact of having 40% discount in tuition fees and the top 10 of having 100% discount for the high school alumni will convinced the students to be more practical and to study college at DYCI. High school graduate from nearby schools will provide potential because there are many students who do not want to study in far schools. The college can make plans, strategies and action to get the potential enrollees from high schools having Accounting subjects as Electives to give them the knowledge about the benefits and opportunities they could obtain after graduating Accountancy and after passing the CPA Board Examination. The strongest opportunity of getting Accountancy courses is that it is in demand in the industry. As is typically the case, business and engineering majors, plus those earning degrees in technical fields, including computer science, are most in demand at the bachelor’s degree level,” writes the National Association of Colleges and Employers (NACE) in its “2011 Job Outlook”. While some studies break down which degrees are most popular nationwide, NACE’s study is unique in that it polls employers and asks them to forecast their hiring intentions. The Number 1 in demand course is Accountancy and next is Finance. The portion of the report is shown below. In-Demand Degree #1 – Accounting Knowing how to read and balance a financial spreadsheet could come in handy when marketing yourself to companies.
When asked for your skill-set, you’ll be able to respond confidently that you are well-versed in the latest accounting theories and practices and know how to use the most current software. In-Demand Career Prospects: Employment opportunities for accountants will rise 22 percent through 2018, according to the U. S. Department of Labor. Closely related careers include budget analysts and loan officers. Related Careers and Average Salaries:* Loan Officer: $65,900 Accountant: $68,960 Budget Analyst: $70,660 In-Demand Degree #2 – Finance Want to impress high-level business employers? Understanding the markets and how businesses raise