Problem Solution: McBride Financial Services
McBride Financial Services (MFS) is a start up company that provides financial services to its customers via the internet. This company has received the majority of its start p capital from Beltway Investments. Developing good corporate governance is essential in assisting MFS to realize there goal of being successful. This paper will attempt to identify the issues that MFS is facing and suggest ways that they can be resolved. By creating a problem statement, MFS will be able to focus on resolving the main issue. By resolving the problem, all other symptoms should also be resolved. The problem statement is the catalyst of this paper that will lead to end-state visions, alternative solutions and their analysis, risk management and mitigation techniques, optimal solutions, plans of implementation, and an evaluation of the results.
Issue and Opportunity Identification
Hugh McBride has created a concept in the form of McBride Financials Services that offers a unique service to customers. As the concept is unique he has gained the support of a major investor, Beltway Investments. Hugh is aware that his idea is good and is confident that his business will be successful. However, Hugh does not believe that he should adhere to the rules that govern corporations. According to Chew and Gillian (2005), “corporate governance in the U.S. has changed dramatically since 1980’s as a number of business and finance scholars have pointed out, the corporate governance structures in place before the 1980s gave the managers of large public U.S. corporations little reason to make shareholder interests their primary focus”(p. 73). Hugh’s main focus is to make a profit by any means and to retain as much of this profit as possible. Hugh wants to have as much control over his business as possible as he is of the notion that Beltway Investments wants to dictate how the company is operated.