McBride Financial Services, Inc. is a privately held brokerage firm currently headquartered in Boise, Idaho, specializing in conventional loans as well as loans for military veterans as guaranteed by the United States Department of Veterans Assistance (VA) for home purchasing and refinancing (University of Phoenix, 2008). Under CEO Hugh McBrides leadership, McBride Financial is relatively small, but with all the makings of a large corporation; Hugh McBride has an Executive Assistant, HR Manager, IT Director, Controller, and eight brokers on staff, each of which the CEO wants to manage the eight new locations where he envisions his company expanding (University of Phoenix, 2008). Hugh McBride has met with an IT consultant to discuss his plans to offer low-cost mortgage services over the Internet, as well as partnered with a more experienced firm; Beltway Investments to act as shareholders to aid in realizing his business plan. Hugh McBride has also recently appointed memb!ers to a new Board of Directors for his company (University of Phoenix, 2008).
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McBrideStill at the start-up stages, however, McBrides business plan shows a lack of experience, financial planning, and ethical responsibility. This assessment will discuss alternative solutions for Hugh McBride to consider as he moves forward with his plan to expand his business, and the implementation of an optimal solution so that his companys end-state goals can be realized.
Situation AnalysisIssue and Opportunity IdentificationMcBride Financial Services has current budget losses nearing $30,000 and CEO Hugh McBride is looking to expand to eight new locations. None of these new locations have been purchased yet. Real estate negotiations have not even begun. McBride wants to launch an Internet-based business, where the bulk of his plan is to offer customer service over the Internet and keep his offices minimally staffed with only a licensed broker as an...