Wednesday, December 1, 2010
Would I want to be a customer? an employee?
Well, I suppose I am an occasional customer. Although we seem to use UPS more routinely at work, I don't have a stronger loyalty to one shipping company or the other, and have never had any major problems using either FedEx, UPS or USPS. As far as employment, I am not sure. In the first quarter 2011 earning call, the Fred Smith discusses the company's People-Service-Profit philosophy in response to questions about consolidation of FedEx freight, which involved closure of some facilities and a reduction in headcount. If I worked there I would definitely want to already have high seniority.
Most Interesting...
What I found most interesting was the story of FedEx founder Fred Smith. According to wikipedia, he wrote a paper "outlining overnight delivery service in a computer information age" for an economics class at Yale, had spent time as an amateur pilot, and was later a forward air controller in the Marines before eventually investing in an aircraft maintenance company and then founding Federal Express. He did have the advantage of inherited wealth as starter money...
http://en.wikipedia.org/wiki/Frederick_W._Smith
http://en.wikipedia.org/wiki/Frederick_W._Smith
Stock Price Update and progress since August 27
FedEx's stock price is at 93.99, up 2.87. Comparing to August 27, it is up 13.53 from 80.46, so I would be glad to be an investor in FedEx stock. A $1000 investment would have bought 12.4 shares, returning $168 over about 3 months.
Tuesday, November 23, 2010
more on corporate culture
The discussion below from website http://www.vault.com/wps/portal/usa/companies/company-profile/FedEx-Corporation?companyId=783
reinforces the concept described in the text book for Perpetuating the Culture by screening new hires for fit with the culture:
Ship shape
Sources describe the interviews at FedEx as "intensive." One says, "I had three rounds of interviews and they followed up with my references as well as outside sources. Drug testing. A lot of "scenario" questions and what I thought FedEx was about. It is a really good idea to do a lot of research on the company before the interview and talk to current employees in the position you are interviewing for in advance." His colleague adds that he had "three rounds of interviews with managers, directors and potential co-workers. Behavioral interview questions were prepared and distributed to the interviewers prior to the interview."
reinforces the concept described in the text book for Perpetuating the Culture by screening new hires for fit with the culture:
Ship shape
Sources describe the interviews at FedEx as "intensive." One says, "I had three rounds of interviews and they followed up with my references as well as outside sources. Drug testing. A lot of "scenario" questions and what I thought FedEx was about. It is a really good idea to do a lot of research on the company before the interview and talk to current employees in the position you are interviewing for in advance." His colleague adds that he had "three rounds of interviews with managers, directors and potential co-workers. Behavioral interview questions were prepared and distributed to the interviewers prior to the interview."
Thursday, November 18, 2010
Assignment 12 Corporate Culture
Chapter 12 actually included a specific example for the FedEx culture, in the section where they give examples of heroic acts that have become part of the folklore of different companies. For FedEx, the example was a delivery man who went to great efforts to ensure that items in a drop box were processed and delivered on time, despite the challenge of not having the right key for the drop box. I think this example fits with the predominant image of FedEx, as an extremely reliable service with dedicated workers. There seems to be a strong culture, and with founder Fred Smith still the Chairman and CEO there is probably a "founder effect".
FedEx Chairman Fred Smith to Receive the Aero Club of Southern California’s 2010 Howard Hughes Memorial Award Business Wire from previous posting
The gleaming image is not the only one out there though. There are the views that the FedEx is shirking responsibility to the workers by continuing to use a large number of contract employees and do what they can to avoid the organization of labor unions.
FedEx Chairman Fred Smith to Receive the Aero Club of Southern California’s 2010 Howard Hughes Memorial Award Business Wire from previous posting
The gleaming image is not the only one out there though. There are the views that the FedEx is shirking responsibility to the workers by continuing to use a large number of contract employees and do what they can to avoid the organization of labor unions.
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