The FedEx Corporation is a leading global logistics services company that is based in the United States of America in Memphis Tennessee. It was originally founded by Fredrick W smith in 1971. At that time, it was known as Federal Express. FedEx provides access to a growing global marketplace through a network of supply chain, transportation, business and related information services. It also provides a wide range of products meant to satisfy consumers’ needs. (Bartiromo, 2007).
In this day and time, consumers expect to have an easy access to information and ideas, more places and people and at the same time more products and services. Therefore FedEx is a Company that was formed to bridge the gap that consumers are experiencing. The Company makes it easy for consumers to be able to transform what they thought was just a possibility to a reality. FedEx has been able to greatly expand to form a chain or network of companies which offer business solutions, e-commerce solutions and easy transportation. (Wireback: 15) Company Information
The Company originally known as Federal Express was founded by Mr. Smith in 1971 in little rock, Arkansas. There was then a conflict over the fledging of the Company’s planes which necessitated it to move to Memphis, Tennessee in 1973, where it changed its name to Fed Ex Corporation. The chosen name was a symbol of a national market place and this name was thought to have an impact in obtaining government contracts. (Cato Institute, 2007) The Company started its operations on the 17th of April, 1973 while using jet craft for all the services it offered.
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It started with fourteen Dassault Falcon 20s which connected twenty five cities in the United States. (Wireback: 14) Deregulations of the cargo airlines sector, made the airline expand greatly within the many states in the U. S. The FedEx name was chosen to be the company’s brand name in 1994. Within the years that followed, the Company continually acquired assets which enabled it to have a wide range of choices in the delivering of heavyweight cargo. (Wetherbe: 34).
The company has done its marketing rather very well. Slogans such as “absolutely positively”, “Don’t panic”, and “whatever it takes” have been on the company’s advertising strategies. Although the company has tried to demonstrate an increase trend in its transparency in corporate boardrooms, the shareholders have come out strongly on management issues in the Company. They are against the issue of separating the role of chairman and executive deciding on how the executive should be paid. Frederick W.
Smith, the original founder of the Company had served as both the Chairman and Chief executive. Shareholders in the company advocated for better board function and board monitoring. FedEx is one company that is publicly known for the diverse groups of stockholders it has. Therefore, the shareholders wanted a well-informed board which would be involved in the entire decision making that took place in the Company. As a result, 13 board members were re-elected; Gary W. Loveman was elected as the Chairman and was expected to only serve for a year.
The company offers a wide range of services. First, offers small packages deliveries by ground and it is the second provider of such services in North America. FedEx also offers regional freight deliveries which in most cases need urgent delivery. The company provides information technology services, customs brokerage, and a variety of consulting services. The company is unique in that it offers a wide range of services to meet the different consumers’ needs. (Wireback: 13)
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