Fedex History
Essay title: Fedex History
FedEx Mission Statement
FedEx will produce superior financial returns for shareowners by providing high value-added supply chain, transportation, business and related information services through focused operating companies. Customer requirements will be met in the highest quality manner appropriate to each market segment served. FedEx will strive to develop mutually rewarding relationships with its employees, partners and suppliers. Safety will be the first consideration in all operations. Corporate activities will be conducted to the highest ethical and professional standards (FedEx Website, 1995-2005).
The FedEx Strategy
The unique FedEx operating strategy works seamlessly – and simultaneously – on three levels.
Operate independently by focusing on our independent networks to meet distinct customer needs.
Compete collectively by standing as one brand worldwide and speaking with one voice.
Manage collaboratively by working together to sustain loyal relationships with our workforce, customers and investors (FedEx Website, 1995-2005).
Overview of FedEx
In 1971 a former U.S. Marine by the name of Frederick W. Smith founded Federal Express in Little Rock, Arkansas. Two years later the company was moved to Memphis, Tennessee after airport officials decided to not provide facilities for the new-fangled enterprise. Smith chose the name Federal Express to be a symbol of a national marketplace while also hoping to help the company attain government contracts. Connecting 25 cities by using 14 Dassault Falcon airplanes, the company officially began business operations on April 17, 1973 (Wikipedia).
Federal Express was the first company to use the spoke-hub delivery model in air shipments, which has allowed them to become a worldwide leader in their industry (Wikipedia). The hub for much of its U.S. overnight shipping is Memphis, Tennessee. In August of 1989 Federal Express bought out a company called Flying Tigers which was an international cargo airline. This helped them to expand their fleet of planes and take on more customer deliveries (FedEx Website, 1995-2005).
The company chose the name “FedEx” as its chief