Alleco (http://bulatlat.com/main/2011/04/18/the-economics-of-ukay-ukay/). While there are numerous ways to assess your company, one of the most effective is to conduct a SWOT analysis. It can require a lot of time, energy and trial/error. It effected changes on the shopping practices, lifestyle of the masses, and supplemented the existence of the textile clothing industry. The respondents will be chosen at random, both male and female. Even if ukay-ukay is washed and disinfected before it is sold, we should wash it again thoroughly because we are not sure if its safe or not. Bibliography can be find at the last page of a book and can be used as references of a researcher. WebUkay-ukay is most normally used to mention to the industry that caters to the sale of secondhand imported garments. If anything, the issue brought to light an often understudied culture of shopping in an ukay-ukay. Ukay ukay (in short UK) is actually gouging in a pile of run down clothes,the word is derived from the word phrase 'halukay' which literary means "digging" or "make a mess". where it has been typically called wagwagan. Requirements, How It Works, and Example, Human Resource Planning (HRP) Meaning, Process, and Examples, SWOT Analysis: What It Is and When to Use It, The Coca-Cola Company: A Short SWOT Analysis, Home Depot SWOT Analysis & Recommendations. SWOT analysis is a technique for assessing the performance, competition, risk, and potential of a business, as well as part of a business such as a product line or division, an industry, or other entity. Course Hero is not sponsored or endorsed by any college or university. Perform a SWOT analysis before you commit to any sort of company action, whether you are exploring new initiatives, revamping internal policies, considering opportunities to pivot or altering a plan midway through its execution. First, it has a different marketing and sale process. Academia.edu no longer supports Internet Explorer. Philippine Daily Inquirer. This website uses cookies to improve your experience while you navigate through the website. Most potential clients have a negative impression of mediation, because they feel mediators dont understand or care to understand the problem, and rush to resolve it. Then, a company looks outward and evaluates external factors that impact its business. The researchers decided to conduct a research which concerns about the nature of ukay-ukay industry. We then crafted our business plan to emphasize the advantages of our strongest features while exploiting opportunities based on marketplace weaknesses.. Contrary to authorities notion that these commodities are donations from foreign countries, wagwag items are actually purchased from Hong Kong-based Salvation Armys rummage sale sites. Out of 20 respondents (sellers), 6 of the respondents corresponding to 30% said that they price their stock based on the brand of an ukay-ukay, 2 of the respondent corresponding to 10% said that they price their stocks based on the type garment, 11 of the respondents corresponding to 55% said that they price the ukay-ukay based on the quality and 1 of the respondent corresponding to 5% said that they price their stocks by piece. Due to the frequency of calamities happening in our country, a certain humanitarian group called the Salvation Army used to ship second-hand garments and other goods as forms of help to the filipino victims. The primary objective of a SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision. Dana's indifference curves form a.right angles b.The answer cannot be, Mike likes beer and fried chicken and views them as perfect complements: for each bottle of beer, he likes to eat 3 pieces of fried chicken. This compensation may impact how and where listings appear. We also reference original research from other reputable publishers where appropriate. But there have been notes from anthropologists like Lynne Milgram saying that access to secondhand clothing already grew after World War II in Southeast Asia.. Weaknesses stop an organization from performing at its optimum level. WebEspecially if you're into authentic leather bags & shoes. Ukay-Ukay Wagwagan in Pasay takes up an entire street of thrift shops. By refining the thoughts that everyone had, a company can focus on only the best ideas or largest risks to the company. But many dont mind about the law that prevents from selling ukay-ukay. The lack of knowledge about the Ukay-Ukay. Having the ability to make decisions may be both empowering and liberating. The primary objective of a SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision. Just like any other business, the success of an ukay-ukay business is mostly determined by the owners efforts and traits. The ukay trade, however, is not without its own issues of legality. One is their low prices when compared to substitute and complementary goods. The Filipinos dont care how dirty or unsafe ukay-ukay is, they will just wash it properly with soap and disinfectant, and after that you can wear you branded shoes, clothes, bag and other ukay-ukay products. Checking whether your current methods and plans remain the best way forward can help you keep up in an ever-changing business climate. ukay It is one of several business planning techniques to consider and should not be used alone. Marion Calvin H. Mijares, De La Salle University Integrated School (Manila) I look forward to working with you moving forward . The profit comes quickly because it is computed on a per-sale basis. Ukay In a thesis titled Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay by Luisito Abueg, the history of the ukay-ukay, the policies that govern the underground industry, and what it all implies for the Philippines as s struggling economy are painstakingly discussed and dissected. The problems encountered by customers of the ukay-ukay business do not significantly affect the economic benefits they derive. It is suggested that the issue of urban diversity should be opened up to public debate, the aim being to understand and adequately address all its multiple aspects and effects on entrepreneurship and everyday life in general. Since he can only work a maximum of 15 hours a day. It operates in the Industrial Building Construction industry. Nature of Applied Ethics: https://t.co/ItYbzNgtbB INSTRUCTIONS Based on the outcome of the discussions made about the topic, you are to writeeee a one page well-thought-out reflexive paper. Ukay-ukay shopping is like treasure hunting, but instead of looking for a treasure, you are literally digging from the piles of clothes which are mostly vintage and of high value. Having a broad set of perspectives is also more likely to yield diverse, value-adding contributions. Opportunities and threats pertain to conditions outside your organization, such as market trends and regulations. A SWOT analysis is a great way to guide business-strategy meetings. For the costumers viewpoint, what are their different perspective about the advantages and disadvantages of ukay-ukay? This cookie is set by GDPR Cookie Consent plugin. In the top-left square, you record 2013. This visual arrangement provides a quick overview of the companys position. SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. How much is the weekly income of an ukay-ukay business? You can also conduct a personal SWOT analysis in your own life, whether for professional or other purposes. Make sure you are honest and efficient in dealing with your customers, so they can tell their friends about your store. As soon as he promoted his video on Twitter, some users started calling him out for gentrifying ukay-ukay, for being burgis, for not acknowledging that shopping in an ukay-ukay is more than a challenge, especially since [proletariats] treat it as a lifestyle. Other users also came to his defense, saying that it is a non-issue when he certainly is not the only person of privilege who shops in ukay (for example, photographer Shaira Luna has talked about her love for ukay countless times) or that hes not influential enough to actually gentrify ukay-ukays. Stitching together rich narratives from Papua New Guinean tribal people, Mozambican cotton growers, Zambian factory workers, American jeans markets, international charities, Nigerian smugglers, Londons vintage clothing scene and Vivienne Westwoods new ethical designer lines, Brooks uncovers the many secret sides of fashion. Every SWOT analysis will include the following four categories. In order to buy pizzas, he is looking for a job that pays him a wage of $ w per hour for L hours of labor. It sought to answer the following questions: The objective of this study is to widen the knowledge of all men about Ukay-Ukay Business: The study will be conducted among the Ukay-Ukay stores in Tacloban City, Leyte to the chosen costumers and sellers of Ukay-Ukay. Ukay-ukay is a term used both for the act of shopping by digging up piles of used or pre-loved clothes until Many entrepreneurs enjoy running a business just within the comforts of their homes. Necessary cookies are absolutely essential for the website to function properly. A SWOT analysis focuses on the four elements of the acronym, allowing companies to identify the forces influencing a strategy, action or initiative. > This cookie is set by GDPR Cookie Consent plugin. Business News Philippines 2023. These four aspects can be broken into two analytical steps. What does a real-life SWOT analysis look like? The research instrument to be used in gathering primary data is the questionnaire. Analysts present a SWOT analysis as a square segmented into four quadrants, each dedicated to an element of SWOT. According to the survey, most of the costumers of ukay-ukay industry ranges from 20-30 years old and the least ranges from 50-60 years old. "SWOT Analysis: What It Is and When to Use It. A SWOT analysis can be Then-Vice President and Social Welfare Secretary Gloria Arroyo, who has experience in dealing with the textile and garments sector during her time as trade undersecretary, then issued a department order to prohibit the import of used clothing. In a thesis titled Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay by Luisito Abueg, the history of the ukay-ukay, the policies The questions serve as a guide for completing the SWOT analysis and creating a balanced list. WebThis study aims to analyze the ukay-ukay market and its structure, as well as itssocial, cultural, and institutional influences. We recommend the following based on our research: Ukay-Ukay Shopping Buiseness. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. This study, in which catering business has been investigated develops a new assessment model to evaluate key success factors for micro-enterprise creation and operation. The cookies is used to store the user consent for the cookies in the category "Necessary". Brand management is a marketing function that uses brand management techniques to increase the perceived value of a product line or brand over time. Since this business is quite easy to start, this industry is also crammed. Porter's 5 Forces vs. PESTLE Analysis: What's the Difference? This makes it ideal for stay-at-home mothers or students who need a side hustle. Those who sold ukay-ukay decried that many will lose their jobs and main sources of income those who man the stores, who sort out the clothes, those who are into the transport of goods. To the respondents, they will be able to realize how useful and beneficial of an ukay-ukay products particularly on their needs on clothings and etc. The majority of your days will be spent walking, running errands for your business, and completing a variety of chores. Gap analysis is the process that companies use to examine their current performance vs. their desired, expected performance. Resulting strategy: Take mediation courses to eliminate weaknesses and launch Scholefield Mediation, which uses name recognition with the law firm, and highlights that the firms construction and construction law experience makes it different. Only few, Filipinos know that ukay-ukay is illegal. Anyone can become a mediator, so other construction law firms could open up their own mediation service as well.