FedEx The Success Story Essay Example | Topics and Well Written Essays - 2500 words

FedEx The Success Story - Essay Example This paper looks at these aspects in detail. The enduring success of FedEx has been in part due to the wisdom, knowledge and information imparted towards the employees in helping them gain a better understanding and applying a number of company principles and policies. The philosophy at FedEx has always been People, Service, Profit. People always come first. A deep understanding of what makes people tick, their inner psychology, motivations, desires and aspirations are key factors that the company strives to take into account when dealing with them. As people everywhere are varied, FedEx accepts their diversity and understands that each individual must be handled differently. The company attempts to find a common ground between itself and the customer where both mutually agree on terms and conditions and are satisfied with the business goals. The second point is service. To maintain long term customer relationship, the company makes sure that its own philosophy, work practices are sound and credible. When its own employees and leaders are comfortable with the system and have understood it fully, they are able to serve the customer better. The service side of the business is always scrutinized and made adaptable to a changing economic environment. FedEx maintains quality control at every level from the handlers to the customer service representatives. The third aspect is profit. Without the first two factors in place and functioning properly, profits may be affected. FedEx uses cutting edge technology and analytical systems to ensure that the company is on the right course. Variations in profit margins are evaluated and set against the backdrop of the bigger competitive economic picture and also internal company practices. If need be, a revision of policies are made. The company might also look into the process of innovation and how it can be improved upon. The underlying pattern in FedEx is constant change and adaptation. FedEx recognizes the changing world and business environment and in order to be a part of the evolution process, they have continually evaluated business models and strategies. The company regularly studies market trends and the competition and attempts to stay one step ahead. As their customer base expands and a diverse range of people have varied number of requirements, customer satisfaction is very important and FedEx has addressed the expectations and desires of its customers. FedEx has also recognized that the present global economy is extremely competitive and preserving a status quo would not suffice. In order to grow, the company strives to change constantly. This means being flexible in organizational procedures. Rather than sticking rigidly to company policies, an open more adaptable policy towards change has taken place at FedEx. FedEx's growth depends on successfully meeting and anticipating varying customer's requirements in a competitively differentiated manner. Competitive differentiation works on planning and providing customer value offers that are of better-quality that those offered by the competition and which are considered to be a better investment. In designing customer value propositions, each department and employee is directly or indirectly participates in the development. As people are involved in the innovation process, FedEx employees are expected to believe that