{"id":13826,"date":"2018-09-07T13:59:44","date_gmt":"2018-09-07T13:59:44","guid":{"rendered":"https:\/\/www.icebreakerexecutive.com\/?p=13826"},"modified":"2018-09-07T13:59:44","modified_gmt":"2018-09-07T13:59:44","slug":"wonga-is-a-great-example-of-how-misaligned-actions-can-be-with-the-challenge","status":"publish","type":"post","link":"https:\/\/winningthinking.co.uk\/?p=13826","title":{"rendered":"Wonga is a great example of how misaligned actions can be with the challenge"},"content":{"rendered":"<p>Contrary to the press Wonga serviced a legitimate product and market need. Yet flawed: 1. tech model undermining the customer relations as per Provident. 2. Flawed business model aka carillon, hof 3. had weak management unable to: a) put the business interests first, b) correct the flawed business model or c) achieve adequate governance &amp; control key processes. I used to chair such a business the rates are capped and its important that the service is provided at a profit. At the current caps set by the FCA that&#8217;s very tough. If you want to know more go out with a door &#8211; door money collector then you&#8217;ll get it, Its a completely different (hidden) world. The caps mean that the rates never reach gt 34% over 30 days or hgt 100% of the loan. The apr has to be legally quoted as a comparator but its pretty misleading because costs now never materialise on an apr basis, these are short term loans. Misaligned action &#8211; Wonga collapses into administration &#8211; no surprises?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contrary to the press Wonga serviced a legitimate product and  [&#8230;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-13826","post","type-post","status-publish","format-standard","hentry","category-winningthinking-though-leadership"],"_links":{"self":[{"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/13826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13826"}],"version-history":[{"count":0,"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/13826\/revisions"}],"wp:attachment":[{"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/winningthinking.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}