Even when times are hard, what is the single one activity or indulgence you would not cut back on?

Casey Teh
Director
Simmons (SEA)

OUR employees are a key asset and have been one of the main contributing factors to the success of our company. It has always been our strategy to put great emphasis on our staff in terms of their welfare and personal development.

Even when times are hard, the one activity we will not cut back on is our staff welfare and development. As our employees are such a valued asset, we want to ensure their welfare is well taken care of by creating an environment that gives them peace of mind and lets them continue to enjoy their work.

At the same time, we want to continue our focus on staff development through training and coaching for our people's personal growth.

We are confident we will be able to ride through the economic storm as we have a good team on board and this is the best time for us to consolidate and plan for a better future.

Patrick Liew
CEO
HSR Realty International

I WILL not cut back on giving to charity. In December, we organised a Christmas Party to raise funds for the President's Challenge, initiated a charity fun fair for Evercare and donated to the Women's Mount Everest Team and Jemayiah Homes. Even in difficult times, we must remember those who are disadvantaged.

Michael Wee Managing Director Sparkfury Creative Consultants MY little pleasure is going to the movies. It's the one activity I cannot do without, as I am a fanatical movie buff. Going to the movies, to me, is like a reset button to my overall system, especially when I go for marathon shows. I will feel rejuvenated and refreshed after.

Jackie Cheng
CEO
Hisaka Holdings

ONE activity I won't cut back when times are hard is dining out, or partying at home, at least once a month with family members or close friends. This strengthens the bonds between us to ride out the rough time.

Chew Ker Yee
VP Business Operation
Wangi Industrial Co

FORREST Gump said, 'Life is like a box of chocolates, you never know what you're going to get.' Every time I indulge in one or two hand-made chocolates, I recall what Forrest Gump said. Each piece of chocolate is unique with a multitude of favours, only to be discovered when you put it into your mouth.

It is somewhat like creating a winning business, which is about being able to see the invisible. Just like tasting what is inside that piece of chocolate, business creation is about identifying an under-served market, or selecting, discovering and capitalising on each individual's uniqueness.

John Koh
Managing Director
WMRC

PERSONAL consumption is a good way to relieve stress and, at the same time, revive a lacklustre economy. What is even better than personal consumption is spreading of goodwill and joy through giving to friends, family members and business associates. Gifting not only amplifies the positive effects on the economy but conveys appreciation of one another, which is especially significant during this festive period of giving and sharing.

With Chinese New Year upon us in a few weeks, it is perhaps timely to revisit our tradition of giving red packets to relatives during family visits. It could be a good thing to replace the money in such packets with shopping vouchers, to stimulate discretionary consumption.

Of course, all good things must be done in moderation. And this is particularly so for corporate gifting, which could become sensitive if the gift value is excessively large.

Company policies typically take care of that, and as long as one keeps within the boundaries, gifting continues to be a great form of indulgence with a selfless motive.

Wilson Goh
Managing Director
GPA Holdings

ONE activity I would not cut back on is investing in technology for our dental practice, Team GPA. Technology is constantly advancing. As a dental practice, we seek to introduce new systems that will benefit our patients directly. In bad times, people are already stressed out worrying about making ends meet.

We hope to minimise their stress and distress by making use of cutting-edge dental technology to minimise their discomfort when receiving treatment.

This not only benefits our patients but aids the practice by making it more competitive with its industry peers.

Rajiv Singh
Director
Synergic Industrial Materials & Services

YOUR question makes us think of the differentiation between 'needs & wants'. I cannot help but reflect on how our lives have changed in the past 20 years from a retail and services point of view, and how much more things are likely to change in the coming 20 years.

Going back to my student days, our indulgences were primarily eating, drinking and movies - all at a very simplistic level. This reminds me of my wife's restaurant in KL by the name of Khaana Peena, meaning 'eat and drink' in Hindi. I keep telling her that the make merry part was missing.

Today, our choice of options has expanded exponentially to the entire gamut of retail and services, which has grown, I believe, close to $3 billion a month in an economy of $243 billion in 2007.

Undoubtedly, we need to keep the all-important retail and services industry churning. All of us need to do our bit. From the little I understand after having helped in setting up three F&B outlets and recently in trying to restructure the businesses, the wheel begins with the landlords, who need to take a compassionate view on rents, thus allowing retailers to offer value to clients to keep them coming back for me.

In parallel, we need our government to keep employers and employees confident enough to continue spending.

Personally, I intend to do my bit by continuing to spend, albeit with an element of caution, on F&B, travel, gifts and entertainment, most of which are goods and services that are hard to cut back on.

This article was first published in The Business Times on January 06, 2009.