Newsletter June - 2013

Uncommon Business Sense

CONTENTS

Newsletter & Insights

Congestion Charge: Pain or Gain? (Part 1)

Government developments in public transportation and elevating ridership

- congestion charge as an option

www.prudenzconsulting.com

Jun

e 2

013

Uncommon Business Sense | June 2013

A Reflection or Anticipation

Why I chose what I have chosen

Rising To The Challenge

Mapping the path to success


Dear Reader,

Uncommon Business Sense | June 2013

Welcome to the first edition of Prudenz Consulting newsletter and insights,

Uncommon Business Sense. Most business organisations utilise newsletters to

educate and update readers on current matters; sliding in promotional contents to

increasing brand awareness. Ask yourself this, how much time would you spend

reading a newsletter? We’re here to make you spend just a little more time with

us.

When you hold this issue of “Uncommon Business Sense”, the aftershocks of

Malaysia’s 13th General Election are still visible; with business owners,

entrepreneurs, executives, managers, and everyone in the corporate world facing

the need to adapt, change, and be decisive in their actions and decisions to

continuously progress and excel.

Our first article – ‘Congestion Charge: Pain or Gain?’ (Part 1) – explains the

concept of congestion charging in Malaysia where congestion remains a long

standing issue. Congestion charging was first brought to the limelight, back in

2007 and resurfaced in 2010; both times the proposal fell through due to the

overwhelming negative response. We set out to connect the dots between the

relevancy of congestion charge to ongoing public transportation developments, in

particular, the Mass Rapid Transit (MRT).

‘Rising To The Challenge - Mapping the Path to Success’ was featured in SME &

Entrepreneurship Magazine, Feb 2013 issue.Izreen Ismail & Syadid Zaharan, an

Correct the header

“ ”

Prudenz Consulting uncovers the driving factors behind students’ preference amidst the many opportunities

which exist to extract better value from universities and colleges.

Please do not hesitate to get in touch with us at [email protected], if you have any comments or

questions.

Enjoy the read!

entrepreneurial couple, aspiring to establish the Crumb Cravings brand in the local food & beverage scene. In an

interview these entrepreneurs share with us the importance in continuously developing and improvising their

products and services to suit current market’s expectations, no matter how hostile the environment is. Some of

the aspects they discuss include focusing on market positioning, market segmentation and committing to

entrepreneurship.

Dato’ Azmi Mohd Ali

Partner, Prudenz Consulting

Kueh Joe Haur

Partner, Prudenz Consulting


or Gain ?

Congestion

Charge: Pain

> Congestion charge:

It worked really well for London.

The rise of global car population has inevitably presented a major yet

familiar dilemma across the world, traffic congestion. Emission, vehicle

wear, fuel wastage, stress, and time, are some of traffic congestion’s

negative effects and they have cause major problems, even in financial

losses that results in billions of pounds lost per year for many major

cities today. “The Congestion Charge means we have a consistency of

traffic flow and a reliability that we know where the traffic’s going to be,

and that’s important. It means we can get there on time and that’s worth

£10 every day”, said an enthusiastic managing director of an office

supplies firm that is located within central London, the heart of the city’s

Congestion Charge operations. Congestion charge was seen as a

radical step years ago in London, but has won over doubters with its

effectiveness, and as evasive are many tax payers to new schemes, the

Congestion Charge scheme might find its way to work in Kuala Lumpur,

the beating heart of Malaysia’s urban landscape. The implementation of

congestion charge was a provision in the Public Land Transportation Act

2010 that was proposed three years ago but the scheme would not be

enforced until sufficient strength has been injected into the city’s

infrastructure and its public transportation system.

Congestion charge gaining traction – Singapore,

first in the world

Rigorous tinkering and analysis led strategists to formulate a scheme

with means to benefit economical ends, and hence, the Congestion

Charge was conceived. Under this scheme, surcharges are imposed

upon drivers during peak periods with the key purposes of reducing

congestion. The underlying principle is that road users should be forced

to pay for their road usage in proportion to the negative effects that this

usage creates. The value lies in predicating constant awareness among

road users of their usage impact, thus, reducing unnecessary driving.

Instead of increasing supply to build more roads, the scheme aimed at

regulating and redistributing demand, where equilibrium price is charged

rather than building more roads, which offers a short-term solution. Thus

far, there are five cities in the world that have implemented the

Congestion Pricing - Singapore, London, San Diego, Stockholm, and

Milan – where Singapore and London were two of the first to introduce

electronic urban congestion charging schemes, though London officials

decidedly adopted a different underlying technology despite the obvious

success seen in Singapore.


Congestion charge was seen

as a radical step has won over

doubters with its effectivenes

Singapore, London, San Diego,

Stockholm and Milan are the five cities

to implement Congestion Pricing

Congestion charge <


Singapore, London, San Diego,

Stockholm and Milan are the five cities

to implement Congestion Pricing

Pioneering adopters, Singapore introduced the Area

Licensing Scheme that charged drivers entering the Central

Business District that was labeled as the “Restricted Zone.”

The system soon changed to ERP (Electronic Road Pricing)

in 1998 using CashCard instead of the previous paper

license.

SINGAPORE

1975

Although not technically following a congestion charge model,

San Diego implemented Toll booths for the use of High-

occupancy vehicle lanes for low or single occupancy vehicles

in the Interstate 15 by allowing vehicles to avoid gridlock by

using an express lane that runs parallel to the original

highway.

SAN DIEGO

1996

Initially started in Durhanm in 2002 before being expanded

to London, the Congestion Charge uses the Automatic

Number Plate Recognition System (ANPR) where cameras

at entrances and exits around the zone will read the

vehicle’s number plate. The Transport for London (TF)

governs the ANPR system.

LONDON

2003

The Stockholm congestion tax are levied on vehicles

entering and exiting central Stockholm, Sweden. After a trial

run in 2006, the charge was implemented using the ANPR

system, where the number plates recorded will then be sent

a bill to the owners at the end of each month.

STOCKHOLM

2006

Initially started as an Ecopass system in 2008 to reduce

traffic pollution, the system was shelved to make way for

Area C, which is a congestion charge based on the same

designated traffic restricted zone as the Ecopass. The Area

C uses the ANPR technology, using video cameras to

monitor traffic in over 43 gates.

MILAN

2012

5 countries adopted congestion pricing


Source: thisbigcity.net


Timeline of spad’s activity

Electronic Road Pricing (“ERP”) replaced ALS

in 1998 and Singapore led the way in electronic

road toll collecting system for congestion

pricing

photo by National Geographic

Walking down memory lane:

Singapore vs. London

The most prominent player of Congestion Charging

Schemes would be Singapore, implementing the

scheme way back in 1975 with its introduction of

Area Licensing Scheme (ALS) which has come a

long way through leaps and bounds to establish

Singapore as the perennial powerhouse in

regulating traffic congestion.

The ALS started with drivers displaying daily or

monthly windshield licenses when they entered the

2.0 square miles central Restricted Zone (RZ)

during morning peak hours and the ALS had a

workforce of 150 staffs to staff the ticket booths for

all 34 gantries that surrounded the RZ. Heavy fines

were also imposed to discourage violators. The

impact was immediate as the flow of cars into RZ

fell suddenly by 73% and by early 1980s, 69% of

morning peak time travellers chose public transport

compared to 33% in 1976.

Despite large growths in RZ employment (up to

34% by 1983) and overall car population (up to

72% by 1988), the observed increase in traffic

entering the RZ was just at 24%. Meanwhile,

revenues continued to skyrocket as the ALS

produced about S$6.2 million profit every year.

After travelling extensively through the learning

curve, in September 1998, Singapore upgraded the

ALS into Electronic Road Pricing (ERP) system,

which is completely automatic and allows vehicles

passing the control gantries at normal speeds.

London’s long awaited Congestion Charging was

introduced into central London in February 2003.

By February 2007, the original central London

congestion charging zone that covers about 8.0

square miles was extended westwards in almost

double the size, creating a single enlarged

congestion charging zone.

S$6.2million profit every year produced by ALS continued to

skyrocket as the ALS produced about S$6.2

million profit every year

Source: National University of Singapore

The charging zone is enforced by over 1100 cameras,

including 275 fixed detection points around the

perimeter and 10 van-mounted mobile units. Within

the first year, the number of vehicles entering the

charging zone had fallen by 18% as traffic delays also

fell to 25%. In particular, the usage of bus service had

increased by 40%. By 2008, traffic entering the

extension zone during charging hours was down by

14% while traffic circulating inside the extension zone

reduced by 10%. The initial setup cost was about

£161.7 million while yearly revenue rakes in at £250

million per year, but due to high operating costs, the

annual net income is only at about £89 million.

Congestion charge <

Source: NUS, MIT

Source

Capital Cost: S$ 197M

Annual Operating Cost: S$ 16M

Annual Revenue: S$ 80M

Operations

$6.2

30

Maintenance

35


Capital Cost: £ 161.7M

Annual Operating Cost: £ 161M

Annual Revenue: £250M

ERP system

Dedicated short-range

communications (DSRC)

Technology

Payment made though CashCard

inserted in the Invehicle Unit (IU)

Automatic Number Plate

Recognition (ANPR) System

Administered by Transport for

London (TFL)

Payment made via Internet or

kiosks as per monthly account

80 gantries

ERP

Operations

30

Maintenance

35

1,100 cameras Equal headcounts in Singapore and London

within the charging zones

Check figures

Source: Harry Commin, Imperial College London

Source: SIEMENS, UK



Traffic in Kuala Lumpur

“What can be done about it?” The wavering undertones of monologues within the

administrative government to decisively implement

the Congestion Charge in KL has been prolonged

too long that the waiting process has been tiresome

and dispiriting, however one thing is for sure, the

eternal duress of road users in Kuala Lumpur must

be answered.

Despite its population of 1.627 million people, the

population growth in the city of Kuala Lumpur

continues to grow to about 2% per year until 2015,

while some other outer areas are expected to grow

8% per year. Kuala Lumpur is 100% urbanized,

where 24% of jobs are located in the central

business district while 53% of jobs are located in

the inner areas of the city.

That’s not all, as of March 2013, the overall vehicle

population in KL increased by 42% with number of

cars alone amounted to a staggering 3 million, 80%

of which used within the urban areas, leaving only

20% of other vehicle users resorting to public

transportation. This leads to the improbable

conclusion that Congestion Charge is the least

feasible solution in KL given the KL-ites tendency to

disregard public transportation. 85991

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VEHICLE POPULATION IN MALAYSIA AS

OF 31ST DECEMBER, 2012

Rail Line General Rail

Category

- Route

Length

No. of

Stations

Peak Hour

Headway

Current Daily

Ridership

KTMB Komuter Suburban Rail 157 km 50 15 mins 95,000

Kelana Jaya (Putra)

LRT1 Urban Rail/Metro 29 km 24 3 mins 160,000

Ampang (Star) LRT2 Urban Rail/Metro 27 km 25 3-6 mins 141,000

Monorail Urban Rail/Metro 8.6 km 11 5 mins 57, 500

KLIA Suburban Rail/

Airport Express 57 km 5 15 mins 11, 000

Total 278.6 km 115 464, 500

Source: Department of Statistics, Malaysia

Source: SPAD - Daily Ridership on Rail Services as of 2011 shows current daily ridership of 464, 500 people travelling over 115 stations and over 278.6 km of route.

Congestion charge <

Future projection - Weighted Highway & PT Times to Central

KL

Present situation - Weighted Highway & PT Times to Central

KL


But for one to say that public transportation is the

sole cause of KL’s congestion should reassess their

premature judgements, as little research should

shed light that we have many companies in the

industry offering variety of transport modes from

buses, rails, and taxis.

The rail system alone has the Star and Putra LRT

rails, KTM Commuter, KL Monorail, and KLIA

Express. Indeed, the real problem lies in the

planning of public transportation, with the

overcrowding, tardiness, and even overcharging of

taxi fares has left many frustrated and

contemplating that only through the purchase of a

vehicle could solve their commuting woes.

The principal concept of Congestion Charge is to

limit supply and to regulate demand, hence,

building more roads or buying more cars would not

solve the traffic woes in KL, but, reinforcing her

public transportation system, which ably

complements the Congestion Charge principle is

the first way to go. As an added ingredient to mix,

the My Rapid Transit (MRT), a proposed 3-line

mass rapid transit system in the Greater KL (part of

Klang Valley Region), is being built to integrate the

existing rail networks that could alleviate the severe

traffic congestion in the Greater KL metropolitan

area.

The first line is expected to be completed in 2016,

where the MRT is expected to travel from Sungai

Buloh (terminus) to Kajang (terminus) passing

through Kelana Jaya, Ampang, and Bukit Bintang

Lines. The completion of the MRT’s first line is the

first step in reassessing the implementation of

Congestion Charge in KL, especially with the

greater access to public transportation that could

immediately relieve the traffic congestion in areas

around and within KL.

2007 Former KL mayor Datuk Abdul Hakim Borhan

(2006 – 2008) was the first to express the

benefit of congestion charge in KL

Source: Halcrow Transport Analysis Toolkit; Analysis on benefits of MRT

current

Forecast

PRIVATE TIMES TO CENTRAL KL

Rise in usage with the combined network of MRT,

LRT, KTM and Bus Rapid Transit (BRT) is

expected to help push public transport usage

17% 50%



Congestion Charge as an enabler to greater

public transport usage

As of now, there are many barriers to implement

the Congestion Charge scheme in Kuala Lumpur.

Administrative and costs barriers, societal

acceptance, and particularly the insufficiency of the

city’s infrastructure and public transportation

system are just a few of the stumbling blocks that

would deter the implementation of the Congestion

Charge in Kuala Lumpur.

But the MRT project offers a beacon of hope

among those travellers who are time and again

caught in the ludicrous traffic conditions in KL,

where upon its completion; the MRT can

complement the Congestion Charging scheme,

hence, providing more flexibility and access to the

heart of KL for travellers without much stress of the

traffic conditions.

Forecasted daily ridership upon completion of MRT

by 2020 is seen to increase ridership in rail services

through reduced waiting time, improved reliability,

and faster journey through establishing extended

routes and number of stations. The additional

capacity provided will be equivalent to 48,000 cars

(or 12 lanes of traffic flow) during the peak hour by

2020 due to MRT1, MRT2, and MRT3 services.

Malaysia also has the technology and the support

system in place to administer, operate, and support

the Congestion Charge scheme, as the current

administrative government is continuing to assess

the feasibility of implementing the Congestion

Charge scheme as means to establish KL city as

the marquee attraction centre of Malaysia, which

would be free of congestion, pollution, and

commuting woes.

Source: SPAD

2,397,500

464,500

Daily ridership

Forecast Daily Ridership Upon

Completion of MRT (2020)

Congestion charge <


RISING TO THE CHALLENGE:

Mapping the Path to Success

[ Feature ]

SME & Entrepreneurship Magazine is Southeast Asia's best selling business magazine.

Dedicated to business owners and entrepreneurs, SME Magazine, features current news

and in-depth analysis, and practical articles and features in everyday language.

Rising to the Challenge: Mapping the Path to Success <


Entrepreneurship and SME are recognised as

drivers for achieving economic growth and

expansion; hence the creation of job opportunities.

The fundamental need of a strategy - to evaluate,

re-evaluate, and implement strategies - remains the

key driver in any market where the different types

of services and products are almost impossible to

distinguish respectively.

Defining your firm’s competitiveness in the given

industry, and most importantly winning the good

fight by setting a clear direction and implementing

high impact changes have proven to be imperative

for all successful entrepreneurs.

The Food and Beverage industry has witnessed a

significant influx of independent brands over the

years. Crumb Cravings, a husband and wife styled

homemade bakers, is one such company. Founded

by Izreen Ismail in 2007 after taking over her

mother’s clientele, she took her passion for cooking

and baking as a trade, supported ably by her

husband, Syadid Zaharan, who manages the

operational aspects of the business.

The dynamic duo shared with Prudenz Consulting

their most important strategies, as entrepreneurs,

which they developed and are developing in order

to sustain and succeed in their line of business.

Marking your presence

“We bring the café experience to our consumers’

homes”, explains Izreen. “At home, you can be

comfortable, be whoever you want to be, and enjoy

the meals that your standard lifestyle cafes can

provide.” The home bakery industry focuses more

on delicacies, but Crumb Cravings provides the

whole range of a lifestyle café’s du jour, along with

requests for customisation. “By customising our

foods to customers’ wants, we get to know our

customers and their passions, and by catering

exclusively to their demands, we make them feel

like a rock star”, added Izreen. By making

customers feel special, there is value given to

customers, which in return would increase their re-

patronage intentions.

Facts on SME

Entrepreneurship

Crumb cravings

…SMEs account for 90% of all

businesses

In the Asia Pacific Economic

Cooperation (APEC) region…

3 Types of SMEs

Micro Enterprise

Small Enterprise

Medium Enterprise

Source: SMEcorp annual report 2011/2012

> Rising to the Challenge: Mapping the Path to Success


Mixing quality and experience

It is highly important that your

products have a rich cultured

background where customers

can relate to, as opposed to the

generic brands out there, so as

to allow entrepreneurs to

leverage the products’ qualities

to enhance the company’s

credibility and image. “There is

a bemusing need to localise

western food here, that to a

point it no longer becomes what

it is, but some sort of a fusion

blend that ends up tasting

weird. The lasagne that we

provide is rich in its sauce, with

mixed veggies, and most

importantly is pure authentic

Italian recipe. By staying true to

the origins, we provide what

many home bakers don’t,

authentic western taste for the

eastern taste buds”, says

Izreen. “When it comes to

cooking, there is only so much

you can do with the recipes, but

it all comes down to the

techniques that you have and

use.”

Engaging your customers

Globalisation has resulted in an

explosion of choices for all

products in the market today.

This has given rise to the

“grasshopper effect” where

customers are hopping from

one product to another at an

astoundingly high frequency.

Active interactions with your

customers help to build

connection with them and by

making those transparent

adjustments it would help to

make your customers feel

connected, hence, increasing

the perceived value of

customers towards your brand.

“My customers are my greatest

critics”, grinned Izreen before

adding that, “An open

communication with the

customers is important in

gauging how well you are doing.

I call them before proceeding

with their orders to study their

needs and always after

purchases, I inquire their

feedbacks. Most are good,

some are not, but that’s where

we learn about our strengths

and weaknesses, and strive to

make Crumb Cravings better

than it was yesterday.”

Managing costs

“Of course there are always

issues with your suppliers, but

they sell the raw materials that I

need, so if I have to, I prefer not

to be too fussy. Instead we

focus on manpower, utilities,

logistics, and other human costs

that we can save, because

these are costs that are within

our control”, observed Izreen.

There is no one-size-fits all

approach to managing costs,

most entrepreneurs do what

they must to reduce costs, but

in smaller businesses,

entrepreneurs must be brave

enough to sacrifice what is

considered redundant to

smoothen the inventory process

and in turn, improve profits.

Tapping into your customers’

emotion

“Building emotional ties with

customers help to reinforce a

strong brand identification that

in turn strengthens customers’

loyalty towards your brand.

Hence, new competitors would

find it hard to persuade

customers to switch because of

customer’s resistance and

preference to the brand that

they are emotionally connected

to.



The entrepreneurial

dream

Juggling her duties as a mum and an

entrepreneur, Izreen handpicks her ingredients

whilst spending quality time with her son.

“ There is a bemusing need to localise

western food here, that to a point it no

longer becomes what it is, but some sort of

a fusion blend that ends up tasting weird

– Izreen Ismail

> Rising to the Challenge: Mapping the Path to Success


“It’s not only the food, but it’s also the experience”,

quipped Izreen. “We put our heart and souls into

the food that we prepare, whether it’s for a function

or a party. This one time we had a customer who

fondly remembered her daughter’s birthday party

because of the food we served, and it’s great to

know that we were part of that memory. Customers

who would respond favourably would then

introduce their friends and families to us, and the

relationship grows inkto a more affectionate one,

because now you actually care for your customers

like they are part of your own family. It makes us

feel like we are doing something right”, she added.

Successful entrepreneurs display 3 distinct traits:

agility, innovation and adaptability. Products alone

will not guarantee success, but entrepreneurs must

make the right choice of business strategy that can

only be done by deeply understanding the market

and the customers, assessing internal capabilities

and capacities, implementing short-term measures

for quick victories and formulating a long-term plan

to succeed in the industry. The market is

promisingly volatile, hence, nothing is for certain,

but managing the uncertainty provides your

business with the survival kit for sustainability. As

Izreen concludes, “There are doubts at times,

especially after a big order and when I’m

shorthanded. But persevere and when you put that

sifter to the side to answer a call especially from a

loyal customer, it feels great!”



A Reflection or

Anticipation – Why I

chose what I’ve chosen

> A Reflection or Anticipation


High school is finally over or was over and you are

immensely relieved by the years of pressure;

societal and parental, to drag yourself to the study

desk furnished by an insipid lamp that ironically so

has illuminated your schooling years with wishful

grades and negotiated presents. “We can study

until old age, and still not finish” quips an old

Chinese proverb, synonymous to the undertones of

your parents’ murmurs as you laze around the

house for a month or so, before stern gazing and

sarcastic quotes are being passed around until you

finally arrive into that inevitable decision, “Guys, I’m

thinking of furthering my studies.” As the euphoric

hugs, high five-ings, pat-in-the-backs and calling

the relatives reaches its fatigued end, it would

finally dawn on you how a simple quote could lead

to a monumental decision.

For many, the choice of choosing the right

university or college is a paramountal decision, one

that could lend to employability factors and lead to

a steady career. While parental influences do play a

part, it is the students who would make the vital

decision, hence, understanding what drives

students in choosing a university or college is

highly pertinent in making the right decision.

Malaysia as an educational hub

As Malaysians, we have that inclination towards

admiring international brands. Fact check: Malaysia

is a prominent international education brand -

ranked 11th largest exporter of educational services

with over 90,000 international students from over

100 nations studying at its schools, colleges,

university colleges, and universities. The private

education in Malaysia alone was valued at RM 27.1

billion and is set to lead the charge to catapult the

total gross income of the education sector to RM

60.7 billion by 2020 from the current RM 27.1

billion. So assured of its growth and invention,

plans of developing Malaysia into a regional

education hub with 200,000 international students’

enrolment by 2020 is already underway.

Facts on SME

Entrepreneurship

Crumb cravings

Source: Pemandu NKEA

“Study without desire

spoils the memory, and it

retains nothing that it takes

in.”

― Leonardo da Vinci

RM 27.1

billion

RM 60.7

billion

Year 2020

A Reflection of Anticipation <


Of all the Institutes of Higher

Education (IHE), there are 20

Public Universities, 36 Private

Universities exclusive of another

4 Branch Campus of Foreign

Universities, 15 University

Colleges and about 302 private

colleges scattered all over

Malaysia. It seems that when

choosing an institution of higher

education, Malaysians are spoilt

for choice, but the questions on

everyone’s minds are “What do

I want?”, “Where to look at” and

ultimately “Am I entering the

ideal university?”

promoting understanding and

cooperation between students.

Most importantly, IHEs help you

to nurture your values for the

future; hence, it’s important to

surround yourself with people

who also take the liberty of

sparing just a little bit of time to

care about the things that you

care. Whether it is diversity,

volunteering to the poor, or faith,

choose the IHE that is most

known by the reflection of your

own personal needs.

Curiosity is key in making sense

of theories hence, it is

imperative during our evaluation

of an IHE if such practical

courses such industrial trainings

and internship programmes are

present in the curriculum. UCSI

University takes pride in their

“The Co-Operative programme”

which integrates classroom

learning with workplace training

in co-operative employer

organisations. Each co-

operative module is worth three

credits units and students are

graded based on a written

assignment and employers’

evaluation upon completion of

each co-operative module.

Costs is the predetermining

factor – make it count

The cost of education is in fact

serves as a primary element for

many when it comes to

choosing the ideal IHE. When it

comes to cost, the first thing you

can do is be practical. There is

no point in choosing an IHE that

is out of yours or your family’s

financial range, however,

knowledge is the same

regardless of its price tag, and if

you strive to your very best,

success is a guarantee.

Depending on yours or your

family’s financial ability, financial

aids can be an option. Students

can seek private and

government institutions to

endorse your education through

My priority comes first

Just like everything else that

you own and choose, personal

characteristics should be given

preference when choosing the

ideal IHE. Your self-image,

values, tolerance, background,

lifestyle and other aspects of

yourself are important

components when choosing the

IHE. IHEs that blend both

values and prestige tend to be

either extremely small or

extremely selective. While

researching on the IHE, observe

the demographics of the

students and evaluate their level

of integration. Social dynamics

of the IHE can ascertain the

level of value and tolerance

between differing cultures,

races, and background

Practical meets theory

A career path sets the direction

you want your career to take,

the job skills and knowledge you

will need, and how you can get

them. It is important to take note

that although many universities

offer courses with similar course

names, the specific content can

differ as certain courses may be

headed towards a

specialisation. The traditional

way of assessing the credibility

of an IHE and the programmes

offered is by visiting the IHE of

interest and enquire with the

programme consultants

regarding the course and how

the course could shape your

career. In this day and age,

theoretical knowledge without

any practical exposure limits the

appreciation of the subject and

inhibits intellectual growth,



funds and loans, but one should also consider the

amount of loans awaiting you the moment you

embark on your career. Consider the costs of

accommodation, travel, food, pocket money, and

even the flexibility of fee payment. Forking a hefty

sum for further education is no easy choice, but

essentially education is an investment not an

expense. It allows you to gain a foothold in this

compact economical times, and again depending

on your own personal drive, the return of your

investment is definite if not imminent.

The Public vs. Private IHEs debate

The age old question for many students intending

to join a university would be to decide between

joining a public or private university. There are quite

a number of differences, where the public

universities are known for affordable tuition fees,

limited numbers of admissions, payable student

debt loan and a healthy social scene, the private

universities are known for its diversity, prestige by

reputation, and some would argue higher job

prospects. According to a 2012 report based on

number of student enrolment done by the Ministry

of Higher Education (MOHE), a number of 188, 766

students have enrolled in public universities while

59,399 students have enrolled in private

universities in 2011.

Some students still prefer to base their choice on

university rankings. In Malaysia, the Malaysian

Qualifications Agency (MQA) is responsible for

monitoring and overseeing the quality assurance

practices and accreditation of national higher

education. The MQA accurately rates the quality of

the universities into categories which is from Tier 1

to Tier 6, Tier 1 being weak while Tier 6 being

outstanding, but there aren’t any universities as of

now that are ranked in Tier 6.

Whether it is the type of course, university rankings,

reputation of the university or other selective

criteria, do acknowledge that your chances of being

hired as per the career of your choice are higher

the minute you graduate from the chosen

university. Emphasis must be given to your

studying method; whether a preference in research

based work, attending large lecture seminars, or

one-on-one attention with your lecturers, your

studying method must then match with the

university’s type of teaching.

Taylor’s University

…

A Reflection of Anticipation <


Location shapes a person

So you have covered all aspects of the universities’

characteristics, can you finally make a decision

based on academics? The truth is your university or

college life is not all about studies, sometimes you

just need to unwind. The location of the IHE often

details the social aspects of your life in the next few

years. Important location elements such as the

facilities, accessibility, and affordability would

greatly help you to feel that you belong, easing the

assimilation process into the social context within

the place of your institution. Balancing your social

life along with education is an integral part of your

varsity life, as often the case, it will be the

memories you cherish forever, therefore choose a

location that gives you maximum exposure. The

cost of living must again be considered as city

centres could leave a hole in your pocket, hence,

prepare a budget based on your needs that will

include your socialising activities and choose your

IHE’s location wisely. College for many is a time for

exploration, where introspection comes in place,

revamping your life into a much richer context,

hence, do not resist the cultural significance of the

location and embrace the exposure with an open

mind, and hopefully, it will transform you into a

better, more worldly wise person.

Make the best choice – No regrets.

Never doubt the fact that you actually have options when it comes to selecting the IHE of your choice. This will be

one of your first few choices as a young adult, and it will be a decision that will have a tremendous impact on you.

Stay neutral and refrain from the prejudices, hearsays, and negative criticisms of IHEs from casual conversations

-list down your options and take your time in assessing each IHE that will yield the most benefits. Engage in

conversations with your parents, mentors, and programme consultants and be sure of what you want to take

away from the IHE of your choice. “When the student is ready, the teacher will appear”, quotes an old ancient

proverb, and as such, when you are ready to commit yourself to the IHE of your choice, be assured that things

will fall into place.

Location

Public vs.

Private

Priority

Practical

+

Theory

Costs



Facts on SME

Entrepreneurship

Crumb cravings

Practising uncommon business sense


Facts on SME

Entrepreneurship

Crumb cravings

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© Prudenz Consulting Sdn Bhd, 2013. All rights reserved.

The analyses in this report are based on public data and forecasts that have not been verified

by Prudenz Consulting and on assumptions that they are subject to uncertainty and change.

The analyses are intended only for general comparisons across companies and industries

and should not be used to support any individual investment decision.

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Newsletter June - 2013

Business

Transcript of Newsletter June - 2013