This case discusses about an issue that have a potential to change the customers’ perception of a company, which is highly regarded for continuously innovating and valuing its customers.
On 20th May 2005, it was yet another busy morning for Mr. Kumar, making calls and convincing his customers to buy the personal loan which his company sells. Kumar is a product marketing executive of the ABE Consumer Finance India. His work starts 10 in the morning and can extend even up to 8 in the night. Kumar’s job involves working under extreme pressure. He sells personal loans for the existing customers of the company. He makes telephone calls to his customers to inform them about the details of the loan that has been offered by his company. He never misses a chance to sell at the slightest intent of the customer’s interest in the product since the daily target fixed by his manager ranges somewhere between 1 lakh and 1.5 lakh rupees.
ABE GLOBAL INCORPORATION was founded by a wealthy American businessman Mr. Jamie Fox during 1950s in America. Initially, the company manufactured electrical goods. During 1960s, it diversified into manufacturing electronic household consumer durables. Subsequently, the company flourished during the following years. It was regarded as one of the prestigious institutions in America. Soon ABE GLOBAL INC., amassed huge profits under the able leadership of Mr. Jamie Fox. ABE GLOBAL INC., found new growth opportunities in foreign lands too. So it started its operations in the European, Asian, and Australian countries and presently its operations spreads around 80 countries. ABE GLOBAL INC., has shown a profit after tax of $8 billion registering a compounded annual growth rate of over 40% for the past 10 years. (See EXIHIBIT 1 for the country wise breakup of profit). Keeping its philosophy of satisfying the household needs of the general public, ABE came out with an innovative idea of financing its products. To achieve this, ABE floated a special subsidiary called ABE CONSUMER FINANCE LTD. This has led more and more people belonging to the middle and lower income group buying ABE GLOBAL’s products. This has helped ABE to a greater extent in maintaining the growth rate and thereby reaching out to the local masses in different countries. The tradition of constant innovation and delivery of values to the customers was maintained by all the CEOs who followed Mr. Fox for the past 57 years. Presently, ABE GLOBAL is headed by Mr. Alex Mathews. Mr. Mathews took over the reigns of the company in 2005. Mr. Mathews is one of youngest CEO and has received the BEST CEO AWARD for the year 2006.
ABE Consumer Finance India Ltd., is the wholly owned subsidiary of ABE GLOBAL INCORPORATION in the Indian subcontinent. It sells loan products targeting the middle income group to satisfy their buying needs of household consumer durables.
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