| Under the new economic normal,consumption has become an important booster for China’s economic development,and it has contributed to the rapid growth of China’s GDP.As a financial method to support consumption,consumer finance has played an active role in promoting consumers’ living standards and supporting economic growth.It has been widely used in mature markets and emerging markets.At present,consumer finance companies have a history of more than ten years in China,expanding from the initial pilot scope to nationwide operations.With the maturity of the Internet and the development of big data,the consumer finance industry has ushered in a huge space for development.With the rectification of the market environment and the tightening of supervision,the development of the industry is also facing pain.How to make the right strategic decisions in a fiercely competitive environment and a constantly evolving regulatory environment is a test that every company must face.ZY is a licensed consumer finance company approved by the China Banking Regulatory Commission.Its main business is the issuance of personal consumption loans in China.As the only consumer finance company in Henan Province,ZY Consumer Finance Corporation has high hopes.As a technology-based financial company,ZY consumer finance company has been in the recent years due to the complex and volatile political and economic environment at home and abroad,the fierce competition in the consumer finance industry,the rapid changes in technology,and the increasingly severe regulatory environment.In the process of development,it faces internal management and governance issues.It analyzes the macro environment,industry environment and micro-environment of the company at home and abroad.It also deeply understands that the company must adapt to the market environment and make strategic choices that are conducive to the company’s development.Survival and development.This paper takes ZY consumer finance company as the research object,makes reference to domestic and foreign related literature,deeply understands the development history of domestic and foreign consumer finance industry,and combines the actual situation of the company to conduct an in-depth analysis of the current overall situation of the company.First,using PEST tools,the external environment faced by the company is comprehensively analyzed from the political environment,economic environment,social and cultural environment,and scientific and technological environment.Then,using the Porter Five Force model from competitors,new entrants,suppliers,Five different dimensions of buyers and substitutes analyze the competitive environment in which the company is located;then,SWOT analysis is used to analyze the company’s resources and strengths,shortcomings and disadvantages.Since the financial industry is not in the scope of integration strategy,and the regulatory policy requires that the consumer finance industry does not meet the mixed operation requirements of the diversification strategy,and comprehensively analyze all the results,it is concluded that ZY consumer finance companies should choose the development strategy.The intensive growth strategy is carefully analyzed from three aspects: market penetration,market development and product development.Finally,from the aspects of business,risk,finance,human resources and brand promotion,the development strategy is proposed to ensure the healthy and sustainable development of the company. |
