• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11

Bachelor of Arts

Extracts from this document...

Introduction

BACHELOR OF ARTS ~ Business ~ HUMAN RESOPURCE MANAGEMENT & INDUSTRIAL RELATIONS MODULE BA361 Human Resource Management ASSIGNMENT TOPIC Evaluate the relevance of the Stakeholder Value Relationship Model in any organization of your choice 1. BUSINESS AND STRATEGIC INITIATIVES 1.1 FedEx Corporation Overview FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of US$ 27 billion, the company offers integrated business application through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 250,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. 1.2 Strategic Initiatives Currently, with its exposure to volatile fuel prices, high capital expenditures, and thin margins, FedEx can not stand up to the rigorous rule maker quantitative criteria, but its brand power is a perfect example of a sustainable competitive advantage. FedEx ships over 3 million packages a day. Along the route, those packages, the planes that carry them, the trucks that deliver them, and the people that handle them leave impressions on customers. FedEx recognizes that with every box it delivers and every person that delivers it, a brand impression is made. Brand equity is certainly significant to FedEx since its products and services are less differentiated in this fast changing dynamic competitive market. ...read more.

Middle

For hourly paid staff the pay is geared to individual performance. However, to encourage good team working, there is also a team based 'Best Practice Pays' element. The pay for performance of salaried staff is based upon measures relating to the company's key philosophy. 3.3 Performance Reviews FedEx is a very performance-based company. Every person knows upfront what his performance objectives are and he also knows upfront what he can earn. So the crux of People Service People is a fairly laborious performance management and compensation system. If a person fails in his performance, then the person does not get disciplined, but he gets pulled into a constructive action plan. Employees are encouraged to identify their weaknesses through a personal development programme (PDP). These could be general things like communication skills or dealing with conflicts in the workplace. FedEx has an online training library with 600 courses on things like leadership, project management skills, even something as basic as presentation skills. Employees can log in and take any course, but need to pass. 3.4 Staff Survey The annual staff survey is considered to be one of FedEx's biggest business improvement tools. A total of 32 questions are answered electronically in business time over a period of two weeks and participation has increased from 97% to 98%. 4. PRODUCTIVITY, CREATIVITY & DISCRETIONARY EFFORT By competing collectively under the FedEx banner, FedEx in service companies benefit from one of the world's most documented brands. FedEx is one of the most trusted and a respected brand in the world and its brand name is a powerful sales and marketing tool. ...read more.

Conclusion

FedEx shareholder market value has increased continuously as shown clearly in its financial statements. However, company's HR market value has never been officially computed and shown in the financial statements. Based on the company productivity, FedEx's each employee generates revenue of approximately US$108,000 quarterly, which is much higher than the world largest package delivery company - UPS, whose per employee generates revenue of only about US$81,081 quarterly. 8. CONCLUSION For FedEx, timing is everything. Delivery on time is essential, and within FedEx, ensuring this performance every time, has meant the transition to systems that provide online, real-time connectivity, bringing improved business processes and increased productivity. With unrivalled logistics solutions, FedEx turned to its Human Resources function, to leverage its competitive advantage. In such a geographically diverse and disparate region, FedEx strives to manage its human capital by minimizing administrative burden and creating a culture of effective self-management. With employees spread across the Region, and in line with its organization's move to an Internet-centric company, FedEx was continuously looking for ways to empower its employees, and allow them to take control of some of their HR functions. Leveraging on PeopleSoft HRMS solution to effectively manage their human capital, it provided FedEx with the scalability and functionality they needed, to enable FedEx to move towards becoming a Real-Time Enterprise. FedEx employees were fully utilizing their self-service functions, and their HR staffs are now free to deliver a more strategic output to the business. They have increased the visibility of HR information to more effectively manage the enterprise's most valuable resource - human capital. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. Produce a case study comparing two business organisations, investigating the extent to which each ...

    Tesco staff is often invited to join policy groups so that the company's expertise may be used to help other businesses across the country. Again people want their environment to be looked after, and buying shopping with Tesco they will fee that they are helping to do this.

  2. A REPORT INTO HUMAN RESOURCE MANAGEMENT AT SAINSBURY'S

    He drew up 2 different but equally important conclusions from his results of his workplace experiments. They are 1) The importance of teamwork- The experiments had lead to group's of individuals becoming a team, whose members worked closely in co-operation with each other.

  1. Human Resources Assignment - Sainsburys.

    The trainees will then know the system in which Sainsbury's operate their supply chain, and they will then be able to help Sainsbury's by managing the supply chain. The quality and innovation training and development programme trains people so that they are helping Sainsbury's deliver the innovation and quality of goods and service that their customers expect.

  2. Building Effective Teams.

    Many leaders don't know how to manage the participation of employees in these processes, even when a team is set up, and they frequently discourage participation (whether or not it's done intentionally) by their actions -- they may allow for minimal time for participation, interrupt people, or simply ignore what they hear.

  1. As a short-term business Consultant, I have been hired by Alton Towers PLC to ...

    It is concerned with giving customers full satisfaction through receiving quality in the products that they are buying. Total quality management tries to gain full customer satisfaction; they do this by systems of tools, techniques and training. This all involves continuous improvement which all results in the outcome of high quality products and services.

  2. Managing Human Resources in Marks & Spencer.

    university courses that train people the skills required for these specific industries. Competition for employees Marks and Spencer will be interested to know whether its competitors are expanding and, therefore, increasing the demand for labour, or whether local redundancies mean labour is more readily available.

  1. Performance management - Tesco's needs to mange the performance of its employees effectively if ...

    as they're currently satisfied with what they are doing due to the fact that their current task holds very little responsibility and supports them financially. Safety, or Security Needs Once physiological needs become gratified, the safety, or security, needs become predominant.

  2. This is a report on Marks and Spencer a well known retail company in ...

    confidence of their customers, which has lead to their decline as a company. This is one of the reasons why Marks and Spencer's has lost its demand to its competition. Task 3 Marks and Spencer before the loose in profits had been expanding in the UK by increasing the amount

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work