Management of FedEx – Essay Example
The paper "Management of FedEx " is a great example of a management essay. FedEx is one of the largest transportation companies in the world which deliver packages to over 200 countries around the world. The company in 2008 generated $37.95 billion in revenues. The firm utilizes bureaucratic, behavior, market, and financial control to guide its managerial functions. The four managerial functions which these control mechanisms assist are planning, organizing, directing, and controlling. Bureaucratic control helps the company deal with external stakeholders. The top managers of the company utilize their power to arrange deals in foreign nations in order to establish alliances with governmental officials as well as business partners overseas. Bureaucratic control also helps the company manage their investor relations. Investors expect the company to provide them with important paperwork such as the annual report. Behavioral control is effective to deal with the management function of directing. Behavioral control establishes protocols or rules and regulation that the employees must follow when they are doing their work. This is important because FedEx workers are always on the road delivering packages for clients. Market control can be utilized to enhance the planning management function. A multinational company that operates in so many countries needs to constantly plan its next moves in order to continue its dominance over the market. Three of its main competitors are DHL, UPS, and USPS. In order to stay competitive, the company has to plan the markets the firm will penetrate to increase its revenues. Financial control can help the company in its managerial function of control. Controlling involves establishing performance standards to meet the company’s objectives (Rothbauer-Wanish, 2009). The funds given to specific job tasks help departments meet its performance objectives.