Strategic management practise Assignment Example | Topics and Well Written Essays - 5000 words - 1

Strategic management practise - Assignment Example The purpose of this report is to conduct a strategic audit of a real-life organization and on the basis of strategic issues being faced by the organization, the goals, actions and key elements of performance management system to develop strategy are discussed in this organizational context. The report has four major sections, wherein the first section, the strategic issues are identified by employing a strategic audit. The strategic analysis is performed with the help of some strategic tools, such as PESTEL Analysis, SWOT Analysis, and Porter’s five forces model. Then to address these issues, the goals are set in the context of the organization in the second section. Thirdly, the actions are recommended which the organization should take. A strategy statement is also summarized in this regard. In the last section, the key elements of the performance management system are elaborated, which are important to develop the strategy for the organization. To address the purpose of the report, FedEx Corporation is selected. The FedEx Corporation was originated in 1971 by Frederick Smith, where its previous name was Federal Express, centered in Little Rock, Arkansas, and headquartered in Memphis, Tenn. The founder’s business visions have been esteemed all over the years, who always concentrated on providing superior customer services than rivals. During the start of the company, after fronting a number of funding problems, the company struggled and strived for its survival. The company entered into the initial public offerings in 1998, and its renowned itself as the name of FedEx Corporation in 2000 (FedEx Co., 2014). The FedEx Corporation is involved in delivery and shipping services mainly, and also it has developed a portfolio of business. It delivers different services to the different segments of the customers, which are business consulting services or support solutions, logistics services, e-commerce, and mainly