Remmington Peckinpaw Davis Problem Solution Essay

3687 words - 15 pages

Problem Solution: Remington Peckinpaw Davis Inc.
Remington Peckinpaw Davis began more than 35 years ago as a trading firm. RPD has since been a Wall Street force to be reckoned with. The company was founded by legendary Wall Street buccaneer Sam Remington, who was instrumental in shaping the stock market as it exists today.
RPD was successful by targeting the 2% of American families who hold 80% of the country’s assets. This strategy that served the company well through the early 1990s was not faring so well by the mid-1990s. A new layer of wealth was created which in turn created new target audience for RPD and for their competitors.
In 2005, RPD developed their first attempt at an ...view middle of the document...

The article has affected the company in may ways but has made matters very difficult for RPD’s CEO, Sam Remington. Remington immediately contacted his COO, Michelle Cavanaugh. After contacting Cavanaugh, many of the other employees found out and rumor spread rapidly. The company held a meeting after the word got out and discussed what the possible scenarios were for RPD. The ensuing conversation revealed many problems and opportunities for RPD.
Stakeholder Perspectives/Ethical Dilemmas
The proposed solution will aide in resolving the ethical dilemmas of everyone involved. Sam Remington was caught off guard but the article published in the Finance Street Journal. From this point forward a new rule should ensure that the manager is always aware of all statements released. RPD must find a way to eliminate surprises.
Michelle Cavanaugh, Mark Peter and Kensington Sherman are tasked with ensuring the successful launch of the new, eRPD system. While they have a responsibility to Sam, they also have a responsibility to all the stakeholders of the company. According to, (Gray and Larson 2005), a significant project, whether it involves renovating a bridge, creating a new product, or installing a new information system, will likely involve in one way or another working with a number of different groups of stakeholders. Each of these groups of individuals brings different expertise, standards, priorities, and agendas to the project. The sheer breadth and complexity of the relationships that need to be managed distinguishes project management from regular management. To be effective, a project manager must understand how these groups can affect the project and develop methods for managing the dependency.
A process will be put in place to make sure that Sam Remmington is always aware of what is taking place within each department at all times.
Frame the “Right” Problem
Remington Peckinpaw Davis will establish itself as the leading online trading market by re-vamping its online trading market. RPD shall reestablish itself over time to create an unparalleled online trading atmosphere through quick response, 24 hour call center help, and trading incentives.
Describe the “End-State” Vision
Remington Peckinpaw Davis will be the premiere online trader. They will earn their customers business through hard work, integrity, and new incentives for customers.
Identify the Alternatives and Benchmarking Validation
Remington Peckinpaw Davis needs to identify alternative solutions to the problems that they are facing. To do this, it should consider best and worst practices of benchmarked companies such as Microsoft, Universal, Chrysler, Eddie Bauer, and TD Ameritrade.
One situation that is similar to RPD is Chrysler, In recent years Chrysler succumbed to the bad reputation that many of the car companies have had to deal with. With their reputation at risk, Chrysler needed to make a decision to accept the bail out money- they did in 2009. Nevertheless,...

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