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Write 2 pages with APA style on Cofidis Strategic Management. Cofidis Strategic Management To secure the place of Cofidis in the future consumer credit market, the company must formulate a strategy ba
Write 2 pages with APA style on Cofidis Strategic Management. Cofidis Strategic Management To secure the place of Cofidis in the future consumer credit market, the company must formulate a strategy based on numerous systemic inputs. We will discuss the strategic problem, the tactical problem, some related issues, two viable alternatives, and an official recommendation.
The Strategic Problem
To formulate a solution, we must first define the problem. The strategic problem is to help Cofidis begin positioning itself in the future consumer credit market such that it may enjoy growth in the future.
The Tactical Problem
Based on our strategic goals, we encounter certain tactical problems. Our position in the marketplace is resultant of many forces in the marketplace including competitors, consumers, and technology.
The Issues
Based on our evaluation of market forces we have delineated certain issues. Those issues are listed here:
Banks have a competitive advantage in that they are able to maintain a much broader range of credit services and often offer consumers the option to transfer their Libravou debt.
International commerce presents a challenge because a Cofidis is present in seven separate countries each with its own prevailing attitude about credit and finance.
How can Cofidis use the web to manage unpaid debt
Alternatives
We have delineated suitable alternatives. The first alternative is to win customers at lower rates now to secure the resultant revenue in the future even if a slightly less than the predicted rate. The second alternative is to invest in a web market blitz, to secure new accounts at the current rate. In either case, Cofidis should use the web to help manage differences in consumer markets between countries using data driven applications to offer appropriate advertising for each country.
Recommendation
The recommendation is that Cofidis follow through with the idea of becoming an online credit broker centered on the family life and the home. Without changing the brand and risk losing its following, Cofidis should focus on profitable credit products while enlisting the assistance of other financial solutions to offer unpaid debtors solutions online.
Summary
To secure the place of Cofidis in the future credit market, we must formulate a strategy based on numerous systemic inputs. We will discuss the strategic problem, the tactical problem, some related issues, two viable alternatives, and an official recommendation.
References
President and Fellows of Harvard College (2001). Cofidis.
