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Essay / Research Paper Abstract
A 5 page paper discussing the changes facing the credit industry. Virtually every other industry of the US economy has been affected by changes in buying habits, changes in manufacturing, the immense growth of e-commerce and the trend toward globalization. There is no reason to believe that those changes would not affect the credit industry as well, and now it appears that they are combining to bring about some structural, fundamental changes in the operation and focus of the American credit card industry. The paper discusses these environmental issues and what they could mean to the credit industry. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSmgmtCredCard.rtf
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Unformatted sample text from the term paper:
every other industry of the US economy has been affected by changes in buying habits, changes in manufacturing, the immense growth of e-commerce and the trend toward globalization. There
is no reason to believe that those changes would not affect the credit industry as well, and now it appears that they are combining to bring about some structural, fundamental
changes in the operation and focus of the American credit card industry. Environmental Factors US saturation. There are segments of the US
population that do not have and cannot gain access to credit, resulting either from unfortunate circumstances or poor choices of the past; or because they occupy that low-income level of
the population that lives on a cash-only basis. Most of the population uses credit cards, however, and it is unusual for a credit card holder to have only one
such credit account. Current economic conditions are such that increasing numbers of credit users are becoming delinquent in their accounts. Unemployment is
increasing and real wages have been declining for some time. The credit industrys current situation can be seen as worsening in the US in the short term.
Globalization and growth in other markets. Nearly every other industry has looked outward to the growing prosperity of many of the worlds developing and
newly-mature economies. These other markets contain literally hundreds of millions of potential new customers that can boost credit companies revenues if the companies can only gain access to them
(Chudasri, 2002). E-commerce growth. The sales possibilities that the Internet offers finally has started to live up to expectations placed on the
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