The RPD trading firm was founded by the renowned Wall Street buccaneer, Sam Remington more than 35 years ago. RPD has always been a force to be reckoned with on Wall Street, until the mid-1990's when the "Internet and real estate booms began changing the face of investment" (University of Phoenix, 2006, p. 1). These changes produced a new layer of wealth and provided RPD with newer, tech-savvy competitors. When these tech-savvy competitors, RPD has no intention of losing it's foothold on the investment world. RPD "developed a strategic implementation plan with the primary goal of developing and introducing eRPD, the company's entry into on-line trading" (University of Phoenix et al).
Describe the Situation
Issue and Opportunity Identification
By evaluating the information gathered from the RPD scenario, the writer of this paper has come up with several key issues and opportunities (See Table 1, p.
13-14). The specific events that lead up to the issues facing RPD pertain to the several events that set off a chain reaction. The first event pertains to an article found in the Finance Street Journal claiming that "Remington Peckinpaw Davis' eRPD beset by glitches. Customers claim massive errors" (University of Phoenix, 2006, p. 2). The second event pertains to eRPD customers filing complaints with the Securities and Exchange Commission (SEC) about log-in issues they were experiencing due to eRPD having hardware failure. This in-turn forced the brokerage firm to have to pay-out $1.7 million in damages to the customers who filed complaint (University of Phoenix et al). Finally, when the eRPD customer bulletin boards were reviewed, it divulged the steady flow of customer complaints. These complaints pertained to "eRPD's lengthy lag times in opening accounts, sporadic and inaccurate confirmations of...