Ricardo Cuna of Milkin Corporation on Steady Leadership

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“Ricardo Cuna of Milkin Corporation on steady leadership”

SUBMITTED TO:

SR. RAYMUND MALAPITAN

SUBMITTED FROM:

MICHELLE DAYEON SEO

DATE

JULY 18. 2016

Ricardo Cuna is an advocate of a well-crafted business plan. He owns Milkin Corporation and flagship brand, Fiorgelato. Milkin Corporation is a manufacturer and distributor of Fiorgelato (the Pure Italian Ice Cream) in the Philippines. Upon taking over, Mr. Cuna modified the business model by concentrating on offering the products to the public at very affordable prices, while retaining the high quality of the ingredients. Although Fiorgelato uses imported ingredients, it is locally produced using the original process of Italian gelato-making. are testaments to the success of his methodical approach.

At first, he figured out what is current status for high-end ice cream market and found out that his company was number of years ahead in the Philippines which became their opportunity since market have not yet developed. When there is a settled market and became a trend in starting new business, that can be a threat for you since you have to fight with big numbers of competitors. But if you are a pioneer of certain market, before other corporations takes time to analyze and decide to join, that market is exclusively yours. And Cuna was a dominant player in the high-end ice cream market, with 65 outlets nationwide. And this became the greatest opportunity and strength for his company.

Ricardo Cuna had hard time to find the ingredients and machines since they were not available in the Philippines yet, this became his weakness that costs more for delivery cost since he needed to go outside of the country and bought those what he needed for his business. And his business plan took longer than others because of his decision that not borrowing money from banks so he was relied on his salary and savings as capital for his first venture. But in my opinion, even it was slow process, because he worked with bank as a business developer, he knew that it is risky if he take out loan due to high interest rate and it might affect him in case if his business not going well, so this became company’s strength that through his experience as a business developer, he knows what is needed for developing and especially when he deals with banks. And He has discovered that the corporate structure of banks can actually be adapted to the manufacturing and distribution sector then applied to his company.