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Strategy Formulation

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Running Head: STRATEGY FORMULATION 1 Strategy Formulation Name Institutional Affiliation STRATEGY FORMULATION 2 Long-term Goals and Objectives Strategy Formulation After it began operations in 1998, the strategy of the company is customer oriented. Strategy formulation process normally utilized by the company includes setting objectives, environmental scanning, setting quantitative targets, performance analysis, and selection of strategy. Utilizing both horizontal and vertical integrations, FedEx has positioned itself as an important logistic service provider both in the domestic and foreign market (FedEx, n.d). The strategy of FedEx is to identify a market niche and show how the ideals of its target market and prospective market are similar to that of the company. The overall strategy of the company is differentiation through precision, speed, and teamwork. Over the recent past, the company has targeted several lucrative market segments. Market that FedEx will pursue To leverage on the growing demand for courier services in the global market, FedEx will pursue both domestic and foreign markets. With more than 90 percent of the world's growing population located outside the US, FedEx Express aims at expanding services to the global market. The company targets market for corporate firms, individuals, and small and large companies (Keyes, 2016). With rising competition in the global market, FedEx aims at winning both the attention of the customers across the world. To exp ...
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