Frederick W. Smith wrote a term paper about the inefficiency of the air freight system in the U.S. while attending Yale University in 1965. In 1971, he experienced this inefficiency firsthand when he was unable to get airplane parts delivered quickly and easily for the planes of his Arkansas Aviation Sales company. He was inspired to revisit the premise of his college term paper and create a solution for one and two day freight delivery. He called his company Federal Express initially because he had wanted to secure a contract with the Federal Reserve Bank. The contract never materialized, but Smith kept the Federal Express name, which was incorporated in 1971. The company did not become FedEx Corp. until 1998.
The FedEx international headquarters are located in Memphis, Tennessee, which is also the location of its original U.S. delivery hub, chosen because of its central geographic location.
Fedex Mission Statement and Values:
Known more for efficiency than for the touchy-feely soft side of business, the FedEx mission statement is as focused and efficient as customers have come to expect that every aspect of FedEx will be. The mission statement of FedEx shipping and business services company is:
"FedEx Corporation will produce superior financial returns for its shareowners by providing high value-added logistics, transportation 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 Corporation 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."
More About U.S. Company Mission Statements, History, and Headquarters:
- Complete List of Non-Retail Mission Statements
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- Oldest Retail Companies in the U.S. - Founding Dates
- Headquarters and Management Jobs in the U.S. Retail Industry
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