Case 12. FOUR ACES CONSTRUCTION AND HARDWARE SUPPLY: Here, There, and Everywhere In 1964, four girls who were in their fourth year high school at St. Mary's in Bayombong, Nueva Viscaya, made a pact that they must be together even after college. The girls consisting of Gloria Tadino, Rosemarie Ginez, Ligaya Sebastian, and Rosalie Chico were the brightest in the graduating class. They parted ways in college, however. Gloria went on to finish a civil engineering course at the University of San Agustin. Rosemarie got her industrial engineering course at the University of Manila. Ligaya was awarded a diploma in sanitary engineering by National University. Rosalie graduated with a b a business management degree at St. Paul College. In 1973, the four were reunited at the birthday party of Gloria. All four were already working and have good paying jobs. Rosemarie mentioned to her friends that maybe they should put up a business. All agreed and with- in a short period, they opened a construction and hard- ware supply store in Bayombong. A capital contribution of P100,000 each was placed in a common equity fund. The store carried the name Four Aces Construction and Hardware Supply (FACHS) and Ligaya was assigned as store manager. The operation was successful that after two years, the firm's value was placed at P956,000. A second store was opened in 1976 at nearby Solano town and was assigned to Gloria. The operation was also a success. This prompted the four to open another store in Santiago City under the managership of Rosemarie and a fourth one in San Jose City under the care of Rosalie. The company was able to maximize profits by installing a centralized purchasing system. As a result, volume discount and credit extensions were granted by the suppliers. The company was able to institute an effective personnel development program By December 1997, FACHS' assets were valued at over P75 million. The four ladies realized that an oppor tunity for expansion exists but they also understand their limitations. They are aware that they are not getting any younger as all of them are already fifty years old. In addition, expansion would mean additional funds will be required. Nevertheless, they thought that it would be nice to allow the business to grow even if they are no longer capable of doing so. As all of them are already married and have children, the idea was deemed appropriate. As Gloria, Ligaya, Rosemarie, and Rosalie faced each other in a meeting, they hoped that options will be brought up by anybody to help them solve their problem.