Strategic Management Analysis of Fedex
Essay title: Strategic Management Analysis of Fedex
Strategic Management Analysis
FedExвЂ™s mission is to produce outstanding financial returns through its operational companies by providing shareholders with, вЂњhigh value-added supply chain, transportation, and business and related information servicesвЂќ (FedEx, 2005u, para. 1). FedEx strives to provide reliable, competitive, global, air and ground transportation of priority goods at a remarkable speed. FedEx will continue working to develop outstanding relationships among its employees, partners, and suppliers, while maintaining ethical and professional principles within its corporate staff, keeping safety the вЂњfirst consideration in all operationsвЂќ (FedEx, 2005u, para. 1).
FedEx has based its strategic mission on three distinct levels. First, by focusing on its independent networks, FedEx will operate independently to meet its customers every need. Secondly, offering its services worldwide with the same mission, FedEx competes collectively to achieve the same goal. Lastly, FedEx management strives to вЂњdevelop mutually rewarding relationships with its employees, partners and suppliersвЂќ (FedEx, 2005u, para. 1).
FedEx has a number of core competencies that continue to put it above its competitors. The company has built a corporate culture around these major strengths. One of the companyвЂ™s major focuses is on its customers. It strives to maintain loyalty to its customers while working to go above and beyond what the customersвЂ™ needs are. Another core competency is FedExвЂ™s expectations of its members to вЂњdisplay honesty, integrity, ethical behaviors, personal accountability and freedom to performвЂќ (FedEx, 2005u, para. 2). FedEx has continued achievement of its goals by setting high expectations for performance. FedEx managers create an environment that generates enthusiasm, commitment, and a positive attitude among its employees, with focus on achievements of company goals as well as personal goals. Another one of FedExвЂ™s proficiencies is its ability to be innovative, which develops within the company. This is accomplished through encouragement by managers towards employees вЂњhelping the employees think creatively to develop new ideas and business solutionsвЂќ (FedEx, 2005i, para. 3). Creativity is the вЂњfirst step in innovation, which is vital to long-term organizational successвЂќ (Daft, 2004, pg. 280).
The core values of FedEx allow it to be ranked highest in performance among the transportation industry. Its focus on the people within the company through promotion of diversity in their thinking is one of the key values FedEx holds today. FedEx is committed to managing its operations honestly and efficiently while maintaining reliability. FedEx also focuses on maintaining a safe and healthy environment for the communities in which we all live and work.
In order for a company to maintain high profits, and keep its employees and customers happy, the company must maintain a strategy or strategies to do so. The вЂњunique FedEx operating strategy works seamlessly – and simultaneously – on three levelsвЂќ (FedEx, 2005u, para. 2). The first strategy FedEx tries to maintain is its ability to вЂњoperate independently by focusing on our independent networks to meet distinct customer needsвЂќ (FedEx, 2005u, para. 3). This means that FedEx must maintain reliability on all networks so it does not have to branch off to other companies for support. FedEx will always вЂњcompete collectively by standing as one brand worldwide and speaking with one voiceвЂќ (FedEx, 2005u, para. 3). When people think of FedEx, one word should come to mind вЂ“ вЂњFastвЂќ. Customers know that the package will be delivered on time when they either ship with FedEx, or are receiving a package via FedEx from someone else. FedEx also makes sure to вЂњmanage collaboratively by working together to sustain loyal relationships with our workforce, customers and investorsвЂќ (FedEx, 2005u, para. 3). Reliability and trust are two major components of good business. If these are not established a business will surely fail.
FedEx has maintained a highly reliable method of shipping with its logistics system, simultaneously sustaining consumersвЂ™ trust. This has helped FedEx keep a firm grasp on the shipping industry. This success will continue because FedEx keeps a firm grip on its responsibility to its customers and to its employees.
A scan of the internal and external environment is an important part of the strategic planning process. вЂњEnvironmental factors internal to the firm usually can be classified as strengths or weaknesses, while those external to the firm can be classified as opportunities or threatsвЂќ (QuickMBA.com, 2004, para. 1).
A major strength that FedEx has today is the