IntroductionFederal Express is an express transportation company, founded in 1973 by Frederick W. Smith. During his college years, he recognized that the United States was becoming a service-oriented economy and needed a reliable overnight delivery service company. In 1965, while a student at Yale University, Smith wrote a dissertation on the passenger routing systems used by most air cargo shippers, which he considered economically inadequate. He wrote about the need for shippers to have a system designed specifically for air cargo, capable of supporting time-sensitive shipments such as medications, computer parts and electronics. Background In August 1971, Smith started his business by purchasing a majority interest in Arkansas Aviation Sales. While running his new business, Smith recognized the enormous difficulty of getting packages delivered in one to two days. This dilemma motivated him to do the research necessary to solve the current inefficient distribution system. This is how the idea of ​​Federal Express was born: a company that revolutionized global business practices and now defines speed and reliability1. The company was incorporated in June 1971 and officially began operations on April 17, 1973, with the launch of 14 small aircraft from Memphis International. Airport. In addition to his own $4 million investment, Smith raised more than $72 million in loans and equity in the first year. Although the company did not turn a profit until July 1975, primarily due to the oil crisis, Federal Express quickly became the premier carrier of high-priority freight in the market and the industry's leading agency. she created. The company has entered its maturation phase. in the first half of the 1980s. Federal Express was well established and, at the time, a market leader, growing at a rate of about 40 percent per year. In fiscal 1983, Federal Express reported $1 billion in revenue, making American business history as the first company to reach that financial level ten years after its start-up, without a merger nor acquisition.1. Over the next several years, Federal Express continued to grow and expand its network. , today employing more than 290,000 people worldwide and delivering more than 3 million express packages daily to more than 200 countries. In 1994, the company changed its image by updating its identity in an effort to distinguish itself from its competitors. By formally adopting the FedEx name, the company established itself as responsive and global. Finally, in 2000, FedEx completed its global brand transformation by integrating the company's service portfolio under a single name: FedEx Corporation..