Sunday, December 8, 2019
Corporate Social Responsibility (CSR) Business Community
Question: Describe about the Corporate Social Responsibility (CSR) for Business Community. Answer: Fedex had more success with the tagline When it absolutely, positively has to be there overnight than it did with We have planes, trains and automobiles. Why do you think this is the case? (5 marks) (4m) The case reflects the strategic positioning of the overnight delivery services by FedEx and the primary idea was to make the services more enhanced and efficient with the help of hub and spokes concepts. The first tagline does not reflect the strategic positioning of the firm, merely for which Fred was known to people and also the brand was not strategically positioned and it affected the execution of the business process. The first tagline, We have planes, trains, and automobiles." Did not reflect any of the strategic positioning as Fred was known for persistence and the eventual strategies, therefore it did not bring up more success for the Firm. The promise of the brand significantly creates huge impact on the clients. The key benefit is the speed provided by FedEx to all its customers. The tagline also sounded more like what they had, and not what they could do. The other tagline revealed the strategic positioning of the brand and it brought up more success for FedEx as it gives customers assurance of what the company was capable of. One of the other reasons was that FedEx focused on delivering the small packages to customers overnight and this worked pretty well for the firm. It would seem that, over time, Fedexs customer base has evolved. What do you think Fedexs primary customer base was when it first started, and what has it evolved into? (2 marks) (2m) At the start, the tagline for FedEx did not work and FedEx had to suffer a loss of millions. The first few years FedEx did not have the large customer base as it was only targeted at businessmen, who need letters to be delivered quick. FedEx needed effective strategies in order to increase the number of a customer within the firm and it lacked in retaining the desired brands strategies which resulted in the huge loss for the firm. Then FedEx focuses into delivering of the small packages instead of only letters to its customers overnight which worked and increased the customer's base resulting in the great profit for FedEx. As a result, FedEx now caters to more than businessmen it also caters to the common men, retail shops and food and beverage companies etc. What do you attribute this change to? (2 marks) I would attribute this change to FedExs attempt at focusing on the needs of the customers and delivering the best services. This enhances the satisfaction of the customers which as a result, increases the customer's base. The strategic positioning was mainly disputed by the latest and innovative technologies. The delivering of the large pacakages was difficult for the firm and therefore use of effective transportation and latest technologies can improve the overall services. The use of the latest technologies is needed such as the monitoring the quality of the products. In order to deliver the best products, before packaging of the order placed by the customers, FedEx need to check the quality of the goods whether it is as per the satisfaction of the clients and then the transportation facilities needs to be improved. Delivering of, the small packages to all of the customers proved to be working for FedEx and therefore it also reveals the desired fact that perfect means of strategies , branding and positioning is needed for successful marketing of the services delivered by the firm. Entirely, it can be said that the change was quite good in order to enhance the efficiency of the entire firm and it brought a huge profit for FedEx. What has Fedex done, by way of acquisition, in order to cater to its new target customers? (3 marks) FedEx understood the desired needs and the requirements of the targeted customers, which are considered to be of great importance as it helps in providing complete satisfaction related to quality and service to the customers. FedEx bought above a new business to cater to a huger costumer, Kinko. But the e-commerce is larger and the fitting of the larger parcels was a major concern as they cannot fit into regular mailboxes. Therefore, the delivery of the larger parcels was a major concern and so it was important for FedEx to improve the delivery system for the larger parcels with the use of effective transportation and technologies. Delivery of the services within the provided time frame needs to be enhanced as it increases the satisfaction and reliability of the clients towards the firm. Moreover, technology plays the most significant role and therefore it should be used in a systematic order. It was important for Fred to generate effective and effectual strategies in order to retain the clients stick towards the firm. Name and explain 3 promotional tactics that Fedex can adopt in order to reach out to its new target audience. (12 marks) There are three of the most crucial marketing elements which need to be considered while reaching the clients; they are mass marketing, niche marketing, and segmented marketing. The use of the effective 4Ps of marketing mix is one of best strategies as it helps in promoting the products and the services offered to the concerned customers in a suitable way. It consists of four elements such as products, prices, place and promotion and relating with the service industry there are three more elements of marketing mix, they are physical evidence, processes and respective people. The promotional mix will help in advertising for the firm effectively and it will generate enormous impact on the clients which will increase the profitability of the firm. Use of the social media websites can be used to promote the services and the products of FedEx. Another strategy would be the personal selling and the direct marketing top the clients and this can be done by direct mailing to them or by face t o face. The next strategy would be to advertise online by effective media tools and this will help in tempting the customers related to the services and products offered by the organization by various means. The online services will help in saving time for customers and it will enhance the users reliability related to the services provided online. The improvement in the quality of the delivery services strikes the reliability and satisfaction of the clients. The targeting, segmentation, and positioning help in bringing out the positive outcomes for the firm and the delivery system needs to be improved as this will enhance the reliability of the customers and will motivate them towards more purchase. The above three of the promotional tactics would help in increasing the customer base and it will help in serving the customers with the great quality of services. Advertisements with the help of the social media and the effective campaigns will help in creating the great impact in front of the customers regarding the business processes. A successful company like Fedex would have several stakeholders its customers being one of them. Name 2 other stakeholders and why you think they are crucial to Fedexs business and image in the marketplace. (8 marks) (4m) Stakeholders play the most crucial part in the enhancement of businesses process of any of the concerned association. It is, therefore, important to understand the role of a stakeholder as they contribute their best efforts in evaluating the preferred growth of the firm. The stakeholders that are crucial are the management team and employees. The employees are measured to be of large significance as they help in evaluating the entire business process successfully. FedEx needs to have the effective and efficient communicational system which can motivate and empower the employees. The skills and the talents including the desired knowledge of the employees help in creating the impact on the consumers and moreover, it increases the selling if the products and the services offered by the firm. Throughout the marketplace, the employees play the vital part towards the success of the preferred firm. Leadership, feedback and the effective means of surveys help in evaluating the performances of the employees and motivates them to enhance the delivery of the services. FedEx has developed a more decentralized management focus which allow certain employees to make decisions in a timelier manner. The overall management has a dramatic role in the company and have high power and high interest. It is where the daily decisions are being made and where the majority of interaction takes place between internal and external customers. Interaction with stakeholders can either be positive or negative depending on how managers relate to their needs. Thus, they carry the image of how the company carries out its responsibilities. Fedex has responsibility to the wider community in which it operates and it wants to do its part. Suggest one Corporate Social Responsibility initiative that Fedex can adopt and explain your rationale for the suggestion. (8 marks) Corporate social responsibility (CSR) is crucial for any of the firms and they need to adopt suitable initiative regarding the same in the particular environment in which they operate. One of the Best CSR initiatives would be to provide Humanitarian aid to the people in case of any disaster. The assets of the firm are cars, automobiles etc and therefore it is more important for the firm to help people when they are stuck in any type of disaster as this will help in savaging the life of people and will increase the trust of the customers towards the brand. FedEx is engaged in providing the best quality of the services as per the human needs and this is vital because it is to establish the healthy relationship with the customers. Adoption of this CSR initiative will help in increasing the Humanitarian aid to the people residing in the community and moreover, it will help in increasing the preferred growth of the business on the large scale by developing trust between the customers and the firm. The Humanitarian aid will help to make people out of danger and this will help in establishing the desired effective relations between the customers and the firm.