Headquartered in Memphis, Tennessee, FedEx Corporation is one of the largest and most prominent multinational courier services in the world. The name ‘FedEx’ is a sort of syllabic abbreviation of the original name Federal Express which was in use from 1973 to 2000.
One of the most significant selling points for FedEx’s services has always been the ability to help its customers save time with features like overnight delivery. The company’s focus on speed, manageability, and expansion is accurately reflected in its mission statement. That’s why it is so important to examine the company’s mission statement in detail.
FedEx Mission Statement and Analysis
FedEx’s mission statement is: “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.”
It is evident from an overview of FedEx’s mission statement that the company aims to satisfy the growing needs of its customers, which will consequently generate profits for its shareholders. However, a closer reading of individual segments is essential to understand how the mission statement reflects upon the company’s culture and mission.
- Producing Returns for Share Holders. Every company, including FedEx, works to make a profit, the beneficiaries of which are its shareholders. However, few companies make this fact a part of their mission statement. FedEx is unique with this declaration in its mission statement and shows the company’s drive to be profitable.
- Profitability is maximized by doing a couple of different things “providing high value-added logistics, transportation, and related business services through focused operating companies.” What this line refers to is that the company is willing to invest not only in itself but also in other services that are closely related to transportation and logistics.
- The mission statement also expresses FedEx’s willingness to acquire businesses or partner with them to make operations more streamlined and efficient. So, it is apparent why the company willingly acquires competing or related businesses.
FedEx Vision Statement
FedEx’s vision is “Being a dynamic and progressive courier services firm that leverages technology and impacts the lives of all people.”
FedEx’s Vision is to be a “dynamic and progressive courier service.” The company’s dynamism has been proven time and time again as they (the company) continue to invest in the latest technologies and acquiring smaller related businesses. FedEx has also, over the years worked on improving diversity in their workforce by adding more women, minorities and allowing for gender-neutral terms.
The second part of the company’s vision is to leverage technology. Businesses in the courier industry need to leverage the power of technology to ensure that they are competitive and minimize overhead, so it comes as no surprise that the company openly embraces adopting new technology in its vision.
FedEx Core Values
FexEx Core Values are: “flexibility, honesty, and value for money.” Are FedEx’s core values but they should be the core values of all service-oriented businesses. After all, these values help businesses like FedEx establish global credibility in the eyes of their customers.
Finally, offering “value for money” is the only way to compete in an ever-growing, competitive, and diverse industry. So, FedEx’s emphasis on this is arguably one of the reasons why they are the service of choice for many individuals and businesses alike.