Problem Solution: McBride Financial Services � PAGE \* MERGEFORMAT �1�
Running head: PROBLEM SOLUTION: MCBRIDE FINANCIAL SERVICES
Problem Solution: McBride Financial Services
University of Phoenix
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Problem Solution: McBride Financial Services
Corporate governance has engrossed public interest because of its obvious importance for the economic well-being of corporations and society. The concept of corporate governance cannot be defined because it includes "a large number of distinct economic phenomenons" (Encyogov, 2008, ö 1). Increased vigorous board action in overseeing management, aligned with the company's competitive strategy, is a compelling power that is thrusting management to increase the levels of corporate performance.
Being able to identify and apply corporate bylaws and provisions is an important task for board of directors and upper management. The corporate governance infrastructure components must be fully understood to maximize the benefits. McBride Financial Services, Inc. (MFSI) is a company that must find the right balance for their organization.
English: The U.S. Securities and Exchange Commissi...
Michael Oxley , U.S. Senator from Maryland.
Before the signing ceremony of the Sarbanes-Oxley ...Situation Analysis
Issue and Opportunity Identification
MFSI is a newly organized, regional mortgage lender with headquarters in Boise, Idaho. The business will concentrate on conventional, Federal Housing Administration (FHA), and Veteran Affairs (VA) loans for home purchases and refinances. The company plans expansion into Wyoming, Montana, North Dakota, and South Dakota. Beltway Investments (Beltway) is currently taking the position of majority ownership of the investment interests. Hugh McBride has been the president, chief executive officer (CEO), chief financial officer (CFO), and chairperson of the board in the past. The introduction of Beltway will create the need for a newly formed board, officers, and committees.
Beltway expects sound corporate governance and the use of best practices from MFSI. Hugh McBride states, "I want to give it its due attention but do not plan on allowing the money men to dictate how I'll run this company. Please proceed with invitations for...