Cash Connection
Cash Connection: Are its Payday Lender Strategy and It’s Business Model Ethical?
Cash Connection is a pay day advance short-term lending company, offering quick cash for people who might not always have cash readily available. Other services Cash connection provides include check cashing, bill payment services, prepaid phone cards and money orders.
1. What is Cash Connection’s Strategy? Which of the Five generic competitive strategies discussed in Chapter 5 most closely fits the competitive approach that Cash Connection is taking?
Cash Connection’s strategy is to target low-income people in financial trouble. Their strategy is to offer quick money with very few requirements and services that are not offered by commercial banks. Their main target is specifically people who live paycheck to paycheck who are eager for quick and easy loans. However, in return Cash connection offers these quick loans at very high interest rates at which they are able to make a profit and keep their customers. Of the five generic competitive strategies discussed in Chapter 5. I think the differentiation strategy fits the competitive approach that Cash Connection is taking. I think this strategy approach fits the company because Allen Frank the president of cash connection has attempted to set his company apart from his competitors by offering services and features customers may consider to be more valuable. They also use their customer service as a way of differentiating themselves by claiming that they have very friendly employees.
2. What evidence suggests that Cash Connection’s strategy and business model are ethical and beneficial to customers and to society at large? What evidence suggests the company’s strategy and business model are neither ethical nor beneficial to customers and the entire payday lending industry has few if any redeeming qualities?
Cash Connections business model is ethical and beneficial to customers and to society to large because they are offering a
Cash Connection is a pay day advance short-term lending company, offering quick cash for people who might not always have cash readily available. Other services Cash connection provides include check cashing, bill payment services, prepaid phone cards and money orders.
1. What is Cash Connection’s Strategy? Which of the Five generic competitive strategies discussed in Chapter 5 most closely fits the competitive approach that Cash Connection is taking?
Cash Connection’s strategy is to target low-income people in financial trouble. Their strategy is to offer quick money with very few requirements and services that are not offered by commercial banks. Their main target is specifically people who live paycheck to paycheck who are eager for quick and easy loans. However, in return Cash connection offers these quick loans at very high interest rates at which they are able to make a profit and keep their customers. Of the five generic competitive strategies discussed in Chapter 5. I think the differentiation strategy fits the competitive approach that Cash Connection is taking. I think this strategy approach fits the company because Allen Frank the president of cash connection has attempted to set his company apart from his competitors by offering services and features customers may consider to be more valuable. They also use their customer service as a way of differentiating themselves by claiming that they have very friendly employees.
2. What evidence suggests that Cash Connection’s strategy and business model are ethical and beneficial to customers and to society at large? What evidence suggests the company’s strategy and business model are neither ethical nor beneficial to customers and the entire payday lending industry has few if any redeeming qualities?
Cash Connections business model is ethical and beneficial to customers and to society to large because they are offering a