Federal Express The Federal Express is an express transportation company, created in 1973 by an innovative entrepreneur Frederick W. Smith. During his college years, he saw the idea that the United States was becoming more of a service-oriented economy and that it needed a reliable, overnight delivery service company that would transport packages, documents, medicine, computer parts and electronics.
Frederick Smith born in Memphis, TN in 1994 perhaps has became one of the most innovative entrepreneurs with his corporation. In 1966 he graduated from Yale University with an economics degree. While pursuing his career, “he authored a paper describing the concept of a freight-only airline that would fly all packages to one central point, where they would then be distributed and flown out again to their respective destination (Hisrich, 2010, pg. 226).” The operations would take place overnight when airports were less crowded, and with the proper logistics, the packages would reach their destination by the next day. The professor did not think the idea was feasible so Smith received a C grade for his paper. Fortunately for Frederick Smith, he didn’t take it to heart and ended up building that company he dreamed of.
After graduating from Yale, he enrolled in the Marines he served two tours of duty, first as a rifle platoon leader in the U.S. Marines and later as an air controller. His four year term was well spent because it permitted him the opportunity to examine a working logistics system, effectively mobilizing more than half-a-million troops and millions of tons of supplies. The discipline, training, and leadership experience would stick with the Marine captain. He gained entrepreneur experience during the Vietnam War which allowed Smith to glimpse the future.
He found investors willing to contribute $40 million and used $8 million in family money, and