Article Presentation Paper : Money Mutual Payday Loans HRM587 Managing Organizational Change Keller Graduate School Management, DeVry College of New York Professor Shashon Miles

Introduction

The main issue that necessitated the need for the article to be written was the lack of marketing ethics by Money Mutual. Money Mutual failed to provide proper information to its customers and went a step further to hide behind Montel Williams who was their celebrity endorser. They used the goodwill gathered by Williams over the years to convince the individuals that their payday loans were legitimate. It is important to note that Money Mutual were not the actual lenders, they just connected the lenders to customers who they captured from their lead capture pages.
Payday loans can be beneficial to its consumers because it affords them access to emergency loans that they may not be able to obtain from the mainstream lending institutions. Unfortunately, the companies that offer payday loans exponentially overcharge their clients with total disregard to state laws. This is categorized as unethical practice and should be shunned by the government and other lending institutions.
Selling Source does business as Money Mutual an online marketplace that matches interested consumers to potential lenders in the specialty consumer finance industry. Selling Source has a portfolio of five industry-leading companies which provides extensive, customizable solutions to develop and manage brands while offering a turnkey lender and infrastructure solutions to enhance consumer communication. It has financial software processing applications to acquire new consumers more cost effectively and to maximize the return on investment for online business owners.
Selling Source organizational style of change is a First –order, incremental change. The industry’s record of evolution to