Second-generation exporter
- business strategies, cutting costs -
CECILIA M. Ordoñez grew up seeing her parents meet American buyers, procure materials for orders, and package gift baskets and other products for shipping abroad. Amo Philippines Inc. was established in 1973 by Cecilia’s parents as a typical cottage industry doing gift baskets. The business grew and the company would join trade exhibits here and abroad. Cecilia and her siblings helped out in the company in finance, production and sales.
While working for the company, though, Cecilia observed that management could have been stricter in running the company. The high level of inventory could have been controlled more. Controls could have been put in place to prevent pilferage. To make cash management more effective, cash advances to employees could have been given less freely.
[Read the rest of this entry »]
