How to reduce cost as a Consumer!
Eat home-cooked food. Instead of dining out at fancy restaurants, eating home-cooked food saves a lot of money as buying the ingredients and cooking them yourself may only cost up to $3 whereas a single meal bought at the hawker center would usually cost at least $6 not including drinks. Therefore eating home-cooked foods cuts cost dramatically and helps you survive the Recession!
How to reduce cost as a Producer!
Although cutting staff is the most effective way to cut cost as a producer, there are many other methods of cutting cost. One such method is to decrease the number of working hours, this allows the producers to lower wages and cut costs without having to retrench any workers, this is one of the methods used by Singtel. Cutting costs and maintaining employment levels will help you survive the Recession!!
Did you see this Jack's Place advertisement? It shows that you save only about $3 by cooking steak yourself as compared to buying it from their restaurant. I wonder whether for some people $3 saved is worth the extra effort.
ReplyDelete