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Global Communications Generic Benchmarking Paper

2695 words - 11 pages

Benchmarking: Global Communications PAGE \* MERGEFORMAT 1
Running head: GENERIC BENCHMARKING: GLOBAL COMMUNICATIONSGeneric Benchmarking: Global CommunicationsUniversity of PhoenixGeneric Benchmarking: Global CommunicationsAnalysisGlobal Communications is one of many companies facing tremendous economic pressure in today's market. Many companies are looking for ways to decrease costs, and increase their profits. A common practice used today is looking at the best practices of other companies to find creative ways to improve your own. This process, called generic benchmarking, has proven to be very effective. In this paper, the six companies that were examined to find solutions for Global Communications were NEC Corporation of America, Nitsuko Corporation, Sears Holding Corporation, Pier One Imports, Fed EX, and Whirlpool. Each company had their own unique issues, but was similar in the fact that they all recognized the need for change, and found creative ways to overcome their problems, and the result was a stronger, more efficient business. In trying to find the best practices of each of these companies, each one had to be closely examined. This paper will focus on the issues each company was facing, how they overcame them, and how the solutions used by these companies could be beneficial to Global Communications as well.Company SynopsisFederal Express by Ernest Adams IIIThe importance of open communications is underscored by the fact that business leaders cited good communications as the single most important factor in improving workforce productivity in another survey conducted by Watson Wyatt Worldwide (2001, Best Practices). More companies are beginning to find that people are the foundation of a company's success and FedEx is no exception. By communicating with their employees, FedEx has built a company with employees who are well informed and, in turn, perform well as a result.After earnings fell 75% in the fiscal second quarter of 2009, FedEx has seen the impact of the failing economy. However, even though the stock price is down, FedEx still focuses on employee communication to keep the company afloat. FedEx chairman, president and chief executive officer, Frederick Smith, explains, "FedEx operations performed well even with strong economic headwinds, thanks to decisive management actions to control costs and committed team members who delivered outstanding service to our customers," (Berman, 2009). Inside the company walls FedEx uses every means possible to ensure every employee is involved with the company's growth. The depth of FedEx's commitment to employee communication may startle executives at other companies. The company maintains an employee communication department of 50 people and spends an estimated $100 per employee each year on both print and audiovisual programs. Perhaps the most impressive communications tool is FXTV, a multimillion-dollar investment in television broadcast technology that enables Federal Express...

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