Accounting Research Institute - Higher Institutions' Centre of Excellence (HICoE)
Tuesday, August 4, 2009
What is the Worth of Your RM1?...
As he was officiating the 13th MACFEA seminar in Shah Alam, Datuk Seri Ismail Sabri Yaakob, the Domestic Trade, Cooperative and Consumerism Minister shared a story of how he recently had breakfast in a cafe which was owned by one cooperative in Kuala Lumpur. the cafe was promoting a "RM1 Breakfast package". With RM1, one could get roti canai for 40 sen and teh tarik for 60 sen. The minister was told by the cafe owner that he only incurred 18 sen to make roti canai and 20 sen for his teh tarik. Yet, he can make some profit from this business. Well, the concept is very simple: usually we make profit when we charge a higher selling price for our product; but we can also focus on selling higher volume at lower selling price. Aspiring researcher, may be you can do a case study on this cafe...."Now everyone can have a RM1 breakfast"...... fancy?