1 page/≈275 words
Business & Marketing
Company Goals (Essay Sample)
Identify and explain the steps of the collaboration process among the functional area s that must be employed to achieve organizational goals, and prepare an action plan t o implement the collaboration process for McBride Financial Services. (Please see attachment for additional information on organizational goals). source..
(29 October 2010)
McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho; which aims to specialize in conventional, FHA, and VA loans for home purchasing and refinancing. The company intends to expand its operations into Wyoming, Montana, North Dakota and South Dakota. The mission of the company is to be the preeminent provider of low cost mortgage services using state of the art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, and South Dakota.
The goals of the company include achieving financial break-even in a period of six months after commencing operations, be profitable within one year and leverage technology to minimize costs maximize efficiencies for customers and the business in trading of mortgages.
Adequate knowledge of the ways to develop a new products and services is the current method of creating a continued competitive advantage in this era where products have a short life cycle; the markets are dynamic and the processes in the market complex (Oliva, & Watson, 2009). Developing a new product requires an intensive knowledge of the processes where all problems must be identified by the cross functional collaborative teams. The problems are then mapped to find solutions that then convert the specific requirements and characteristics to achieve the organizational goals (Oliva, & Watson, 2009).
In view of the fact that mortgages are highly demanded the company is headed for greater profits. The company’s management must work hand in hand with sales and field agents so that the customers are reached effectively and a personal approach to marketing used. The personal marketing strategy will be used over local TV ads, newspapers, handouts, radio, and realtors.
Target customers will be approached by field and sales agents who will have prospective buyers and introduce them to the products and services of the company. The action plan will be use of sale...
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