FedEx Case Study
FedEx has been around for many years. They were the first business in America to profit $1 billion in less than ten years. That predicted the future for their business because FedEx is now the number one provider of shipping and information services worldwide. Although, with all the success in the company lately they have been experiencing a downfall. They are having a problem because people are more likely to wait a longer time for their goods, rather than express delivery. They have been trying to keep the business on top so they continue making a good profit. The struggle for FedEx continues and here are the basics of the FedEx Company, along with benefits and suggestions to get away from this Background:
Frederick W. Smith is the founder of Federal Express, an express transportation company, in 1973. When Smith was in college when he realized that the US was becoming service-orientated and needed a reliable, overnight delivery service company. As an undergraduate at Yale University, in 1965 he wrote a term paper about how the passenger route systems used by most airfreight shippers were economically inadequate. He wrote about systems that should be designed specifically to accommodate time-sensitive shipments.
Smith started his business in 1971. Smith then recognized the difficulty in getting packages delivered within one or two days. This motivated him to do all of the research and make a plan in order to fix the inefficient system. With this idea, FedEx was made. The company revolutionized global business practice and now examples speed and reliability. The company was incorporated in June 1971 and began operations on April 17, 1973. They first launched 14 small aircrafts from Memphis International Airport. Smith raises over $91 million in loans and equity investment within the first year. Although the company did not progress until July in 1975, FedEx became the premier carrier of high priority goods.
FedEx was well established in the 1980s, and in 1983 FedEx reported $1billion in revenues, which made American business history as the first company to reach that mark in less than 10 years. FedEx has now become the premier provider of shipping and information services worldwide. Mission Statement:
Mission Statement: FedEx Corporation will produce superior financial returns for its shareowners by providing high value-added logistics, transportation and related business services through focused operating companies. Customer requirements will be met in the highest quality manner appropriate to each market segment served. FedEx will strive to develop mutually rewarding relationships with its employees, partners and suppliers. Safety will be the first consideration in all operations. Corporate activities will be conducted to the highest ethical and professional standards.
Some of FedEx’s strategies include standing as one brand worldwide and speaking with one voice, focusing on our independent networks to meet distinct customer needs. They also focus on working together to sustain loyal relationships with our workforce, customers and investors. FedEx list many values that play a significant role in their mission statement. The company values people and aim to promote diversity in the workplace. Many Everyone appreciates good customer service and FedEx works hard to make sure their customers are always satisfied. Service, Innovation, and integrity are all important values of FedEx. The company champion safe and healthy environments for the communities in which they are based. Loyalty is practiced on a everyday basis at FedEx because their goal is to earn the respect and confidence of the employees of the company, the customers, and investors in everything they do.
Small businesses in the U.S. that ship goods and materials must choose among the packaging handling services offered by FedEx, UPS and USPS. Each company offers a variety of package...
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