Strategic Management: A Competitive Advantage Approach, Concepts and Cases, 16/e
by Fred R. David, Forest R. David
History
FedEx traces its history to 1971, when Frederick Smith (the current CEO) bought a controlling interest in Arkansas Aviation Sales. The frustration of being unable to effectively deliver packages in 2 days created the idea of determining a more effective way to handle freight. Smith named his new company Federal Express in hopes of obtaining a contract with the Federal Reserve Bank and to draw public interest though the term Federal. The contract proposal with the Federal Reserve was denied, but the company officially began operating in 1973 with 14 small aircraft from Memphis, Tennessee, by delivering 186 packages to 25 different U.S. cities. Federal Express did not officially change its name to FedEx until 1994.
FedEx first turned a ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access