Management) in What Ways Has Case Study

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Moreover, in 2001, Providian decided to stop advertising the 800 numbers in order for customers to call and apply for a credit card and decided to run a campaign which advertised a web site that offered cards with high rates.

Furthermore, since 2004 due to the new legislation and to the new CEO and chairman Joseph Saunders, Providian is increasing its social responsibility focusing on the middle market rather than on the risky one, even if that means a lower default rate. What's more, Providian sold off some of the best loans to other financial companies and attained other funding.

What could company leadership have done to guide Providian in a better direction?

The company should have raised its market standard and focus on middle market rather than on insoluble customers, who almost brought Providian's bankruptcy. It should have advertised their products correctly and explicitly, this way avoiding the lawsuits and bad commercial.

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It might have not had the same market share at first, but, as risky customers accept overall high rates for monthly smaller amounts to be paid, in the end they would have had no other choice but accepting Providian's terms.

Providian is already going towards a better direction, and the change of management was probably the best solution in their case. With a new chairman and a new management board, who seem to be more interested in the company's welfare rather than on how to make money for them, like the former chairman, Shailesh J. Mehta, the company is going in the right direction.

Moreover, by raising their standards, that is, by not giving loans and credit cards to almost anyone, Providian is slowly recovering its name and credibility among investors and….....

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