The Sarbanes-Oxley Act (SOX), which was enacted in the summer of 2002, mandated a number of changes in incorporated institution for publically traded companies. The NYSE and NASDAQ also mandated corporate governance changes for firms listed on their single exchanges. In this section, we discuss the likely effect of these changes on U.S. corporate governance (Chew & Gillman, 2004, p. 79). Because line of reasoning ownership in at onces market is a scary concept, to survive, business owners must be innovative and competitive to meet the demands of its stakeholders. To survive in todays market, corporate culture is essential and must nurse the longevity to withstand corporate compliance because without a absolve conscience, the government will shut the company down. McBride Financial Services Incorporated (MFSI) is discovering that corporate compliance is not as late as it seems. MFSI is attempting to break into the mortgage business and is beginning a financial relationship with an investment firm called Beltway Investments. Beltway Investments wants to figure that Hugh McBride is piddle for this relationship by inspecting his business processes.
McBride will need to en sealed that changes are made, compliance is researched and built-in the strategical plan, and the shareholders will be satisfied with the new MFSI.
Situation Analysis
Issue and Opportunity Identification
The first off issue facing MFSI is the need to implement a strategic plan to ensure that the company is complying with all the corporate governance bylaws. MFSI has the opportunity to turn the company around and make sure that they are applying all regulations with honesty and integrity, thus letting their customers corporate trust the way they conduct business.
MFSI also faces the issue of a deprivation of ethical compliance. MFSI has the opportunity to attract more companies and individual business by being a company based on morals, ethics, and integrity. Customers will...If you want to get a full essay, order it on our website: Orderessay
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