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Frederick W. Smith is the founder of a company that changed the world: Federal Express. His invention of the overnight delivery system is something that we depend on on a daily basis now, and this page will analyze just what made him and his company so successful. Fred Smith founded Federal Express in 1971. After many ups and downs, innovative inventions, and business negotiations, his company is now the leading overnight delivery system in the world. |
Peristence
Putting enduring work into something and never giving up.... At the end of the first year, Federal Express had lost $27 million. Smith had lost most support, including support of his family, and the company was about to become bankrupt after only one year. However, he did not give up and was able to get the banks on his side through intelligent negotiation. FedEx was no longer on the verge of bankruptcy. |
A photograph of Fred Smith in FedEx's early years.
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Dumaine, Brian. "FedEx CEO Fred Smith on... Everything- Fortune Management." Cable News Network, 11 May 2012. Web. 14 Nov 2013. <http://management.fortune.cnn.com/2012/05/11/500-fedex-fred-smith/>.
"Father of the Overnight Delivery Business." Frederick W. Smith Biography -- Academy of Achievement. American Academy of Achievement, 09 Jan 2009. Web. 14. Nov 2013. <http://www.achievement.org/autodoc/page/smi0bio-1.>
Foust, Dean. "Frederic W. Smith: No Overnight Success- Businessweek." Bloomberg, 19 Sept 2004. Web. 14 Nov 2013.
< http://www.businessweek.com/stories/2004-09-19/frederick-w-dot-smith-no-overnight-success>.
Google Images. Google.com. 2013.
"Father of the Overnight Delivery Business." Frederick W. Smith Biography -- Academy of Achievement. American Academy of Achievement, 09 Jan 2009. Web. 14. Nov 2013. <http://www.achievement.org/autodoc/page/smi0bio-1.>
Foust, Dean. "Frederic W. Smith: No Overnight Success- Businessweek." Bloomberg, 19 Sept 2004. Web. 14 Nov 2013.
< http://www.businessweek.com/stories/2004-09-19/frederick-w-dot-smith-no-overnight-success>.
Google Images. Google.com. 2013.