At the two-day contest which involved presentation of 40 business plans, Project management proponent Marlene Murphy (among the judges) noted that the students were well-prepared, but however stressed on the need of being fastidious and sure about financial structures.
While addressing The Gulf Today, Murphy mentioned of the groups’ clear knowledge on franchise concepts, but called for an approach wherein these concepts are transformed into long-term social entities via sound financial configurations. Devian de Leon, CEO of Shell Social Lead, emphasized on future social entrepreneurs fully understanding what social enterprise is; reiterating it’s not completely charity whilst its thriving depends highly on the organization of a rock-solid business plan. She says the methodology should therefore translate to a well-meaning profit-oriented entity that does not stray from its disadvantaged target market. Consul Ferdinand Flores, another judge at the event, noted that proposals were “getting better” with each year. She nonetheless urged participants to regard their business plans not only as items of compliance but also as preparation attempts to guarantee legitimate business.