1、英文文献资料 （一） FedEx Corporation SWOT Analysis FedEx offers overnight courier services, freight services, logistics solutions, and business support services. It operates the worlds largest express transportation company. FedEx has a strong brand image. During 2009, the company was named the Fortunes six
2、th best admired company all over the world. Strong brand image besides driving domestic revenues, facilitates international expansion. However, the company is threatened from the growing popularity of internet, which could affect the mail volumes, resulting in lower revenues for the group. Strengths
3、 Weaknesses Strong brand image Large scale of operations Dependence on the US market Weakening financial performance Opportunities Threats International expansion Expanding Chinese market Growing global transportation services industry E-substitution Intense competition 1.Strengths （ 1） Strong brand
4、 image FedEx has a strong brand image. It is amongst the most recognized names in the globe express delivery services segment. For instance, during 2009, the company was ranked seventh in FORTUNE magazines “Worlds Most Admired Companies” list, the eighth consecutive year the company has been ranked
5、in the top ten on the list. In addition, FedEx continued to be rank highest in customer satisfaction in the University of Michigan Business School National Quality Research Centers American Customer Satisfaction Index in the express delivery category. More recently, in March 2010, the company was na
6、med as the top 20 worlds most admired companies, according to a survey published in FORTUNE magazine. In its annual report on corporate reputation, FORTUNE magazine listed FedEx as the 13th most admired company. The company operates its four business segments under the FedEx brand name: FedEx Expres
7、s, FedEx Ground, FedEx Freight, and FedEx Services. FedEx promotes its brand through print and broadcast advertising, corporate sponsorships, and special events. The companys advertising and promotion expenses were $379 million in FY2009, $445 million in FY2008, and $406 million in 2007.The companys
8、 strong brand image drives its retail business.The strong brand image besides driving domestic revenues, facilitates international expansion as well. （ 2） Large scale of operations FedEx provides transportation, e-commerce, and business services.The company operates through four business segments: F
9、edEx Express, FedEx Ground, FedEx Freight, and FedEx Services. FedEx Express is one of the largest express transportation companies, engaged in packages and freight deliveries throughout the US and to more than 220 countries worldwide. FedEx Express has an integrated global network, comprising 57,00
10、0 drop-off locations, 654 aircraft, and 51,000 vehicles and trailers. FedEx Ground Package Systems (FedEx Ground) serves customers in the North American small-package market, focusing primarily on business and residential delivery of packages weighing up to 150 pounds. FedEx Ground conducts its oper
11、ations primarily through 22,500 owner-operated vehicles and 31,500 company-owned trailers. FedEx Freight provides regional next-day and second-day and interregional less-than-truckload (LTL) freight services. FedEx Freight operates approximately 59,000 vehicles across 480 service centers. To provide
12、 FedEx Home Delivery service, FedEx Ground leverages its existing pickup operation, and hub and line haul network. FedEx Home Deliverys operations are often co-located with existing FedEx Ground facilities to achieve further cost efficiencies. FedEx Services is a provider of document solutions and b
13、usiness services. It offers access to technology for copying and printing, professional finishing, document creation, internet access, computer rentals, video conferencing and direct mail, web-based printing, and the full range of FedEx day-definite ground shipping and time-definite global express s
14、hipping services. FedExs large scale of operations and ensuing benefits enable it to serve a broad customer base, which improves its revenue generating capacity. 2.Weaknesses （ 1） Dependence on the US market Although FedEx has expanded to other international regions, it still depends on the US marke
15、t for majority of its revenue. The company generated almost 73% of its revenue from the US market during FY2009. This high dependence on the US could have a dampening effect on the companys revenues if the economy and/or the companys sales in the US do not grow as expected. Furthermore, the concentr
16、ation of operations in this area increases the companys exposure to country specific factors such as labor strikes, changes in economic conditions, and most importantly, increasing competition from other players in the market. Weakening financial performance FedEx has recorded weak financial perform
17、ance in FY2009. The revenues of the company declined by 6.5% from $37,953 million in FY2008 to $35,497 million in FY2009. In addition, there has been a significant decline in revenues from its key segments in FY2009. For instance, the revenues from the FedEx Express segment declined by 8.4% compared
18、 to FY2008. Similarly, the revenue from the FedEx Freight segment and FedEx Services segment declined by 10.5% and 7.5%, respectively, in FY2009. The profitability position of the company also declined significantly. FedEx recorded an operating profit of $747 million during FY2009, a decrease of 64%
19、 compared to FY2008. The net profit was $98 million in FY2009, a decrease of 91.3% compared to FY2008. Further, the operating margin of the company declined from 5.5% in FY2008 to 2.1% in FY2009； and net margin declined from 2.9% in FY2008 to 0.3% in FY2009. The companys return on assets also declin
20、ed from 4.4% in FY2008 to 0.4% in FY2009. A continuation of this trend will reduce availability of resources to pursue growth plans and diminish investor confidence. 3.Opportunities （ 1） International expansion FedEx has been taking initiatives to expand its international presence, especially in key
21、 markets such as China, India, and Europe. During 2007, the company made several acquisitions in these markets, in order to generate long-term growth, productivity, and profitability. For instance, FedEx Express acquired its Indian service provider, Prakash Air Freight (PAFEX), for $30 million. PAFE
22、X, a privately-held company, was one of the largest domestic express companies operating in India, with more than 384 offices and depots serving nearly 4,400 destinations. In addition, the company has started next-morning domestic delivery service in China, which is available in more than 40 cities
23、and counties throughout the country.The new China domestic service is supported by a money-back guarantee and real-time package status tracking. Further, FedEx Express has launched a dedicated direct flight between Manchester in the UK and the US. The companys expansion initiatives will enable the c
24、ompany to expand its global reach and reduceits business risks related to the US market. （ 2） Expanding Chinese market FedEx has been increasingly focusing on the Chinese market, one of the key growth markets in Asia. China has continued to dominate the Asian region in terms of activity and growth.
25、According to Datamonitor, the Chinese air express market is expected to grow at about 34%, thrice the global average of about 11% during 2005. Moreover, it is predicted that China would become the sixth largest express market in 2010. In addition, according to the American Institute of Aeronautics a
26、nd Astronautics forecast, Chinas air cargo is expected grow at an average 11.2% per year until 2020. The company has significant operations in China. It operates an Asia Pacific hub at the Guangzhou Baiyun International Airport in Southern China to leverage the fast-growing China and Asia Pacific ma
27、rkets. Further, In 2007, FedEx signed a lease with Hangzhou Xiaoshan International Airport opening its Chinese transfer centre in the city, which can sort up to 9,000 packages per hour. Further in 2007, the company purchased Tianjin Datian W. Groups (DTW Group) 50% share of the FedEx-DTW Internation
28、al, a priority express joint venture； and also the DTW Groups domestic express network in China for approximately $400 million in cash. Moreover, the FedEx transfer centre in Guangzhou Baiyu Airport was opened in 2009. It is the companys largest facility outside the US. The company, with its increas
29、ed focus, is well positioned to benefit from the growing Chinese market. （ 3） Growing global transportation services industry The transportation services industry, primarily comprising of freight transportation by road, rail, air, and marine, witnessed stronger growth during 2004-08. This industry g
30、enerated total revenues of $2,965.6 billion in 2008, representing a compound annual growth rate (CAGR) of 6.3% for the period spanning 2004-08. In 2013, the industry is forecast to have a value of $3,252.1 billion, an increase of 9.7% since 2008.The transportation services industrys production volum
31、es increased at a CAGR of 5.7% 2004-08, to reach a total of 25,396.3 billion freight tone kilometers (FTK) in 2008. In 2013, the industry is forecast to have a volume of 29,279.5 billion FTK, an increase of 15.3% since 2008. FedEx offers freight and logistics services. An expanding end market is lik
32、ely to drive the demand for the companys services. 4.Threats （ 1） E-substitution FedEx faces its biggest ever threat from the growing popularity of internet. In recent years,electronic email has more or less replaced the postal letter as a means of communication. Advances such as free email services, wireless broadband, and text messaging (SMS) are
