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Business Policy&Strategy
Frederick W. Smith and his Foundation of FedEx
Initially known as Federal Express, FedEx is one of the largest courier companies in the world. But they came to this position after years of struggling and countless processes of organizational change. The resources on which founder Frederick Smith had to rely were rather limited. He would operate with a total of 25 small planes which delivered collets to 25 cities in the United States. A first opportunity arose with the deregulation of the airline industry and the cargo company was then able to transport packages to various locations across the U.S. In the 1980s, the company's financial resources had increased significantly, allowing it to benefit from the opportunities of the external environment, often materialized in mergers and acquisitions. The managerial team had also grown professionally and was able to make better and more informed decisions for the overall benefit of FedEx. In this particular instance, with better prepared staff, more financial resources and favorable external opportunities, Frederick Smith engaged in numerous operations of acquisition of smaller companies that would add more value to the organization. This then led to an enlargement of the fleet and also made possible the purchasing of other means of transportation. Due to these changes, the company could now operate internationally and in 1988, made their first flight to Japan (Official Website of FedEx, 2008).
Another opportunity presented by the external environment was the need for a courier services, but the limitation of this need was that it was unknown how the public would react to a company that delivers packages; and a negative reaction would have been disastrous after so many investments had been made. But this was not the case and the growing economy only offered more opportunities for international expansion. All in all, with rather limited resources, but with a highly skilled and capable team of entrepreneurs who knew how to benefit from the opportunities presented by the external environment, Frederick W. Smith managed to found an international leader.
Works Cited
1995-2008, FedEx History in APAC, Official Website of FedEx, http://www.FedEx.com/cn_english/about/history.htmllast accessed on May 20, 2008
FedEx Corporation, Funding Universe, http://www.fundinguniverse.com/company-histories/FedEx-Corporation-Company-History.htmllast accessed on May 20, 2008
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