Faculty of Business Management
Bachelor in Business Administration (BBA) in Marketing.
Individual Assignment : Frederick W. Smith, Founder of FedEx.
Prepared by:Wan Azmir Bin Wan Hashim
Course :ENT530 (Principles of Entrepreneurship)
Prepared for:Puan Noor Faizah Binti Mohd Lajin
Facilitator for :ENT530 (Principles of
Submitted on :13th of May 2012.
TABLE OF CONTENT.PAGE
Preface – How I conducted my research3 - 3
1. Introduction – Absolutely Overnight3 - 4
2. The Opportunity – On His Own5 - 7
3. From Opportunity To Business – Bringing A Dream To Life8 - 11
4. The Entrepreneur’s Network12 - 12
5. The Future – Building Toward The Future13 - 16
6. Analysis and Conclusion 17 - 18
7. References19 - 19
PREFACE – HOW I CONDUCTED MY RESEARCH.
Assalamualaikum wbt dan salam sejahtera Puan Noor Faizah Binti Mohd Lajin and all my friends. In order for me to fulfill the coursework for Principles of Entrepreneurship, I choosed Frederick W. Smith the founder of FedEx as my research subject for my individual assignment. While doing my research, I had been searching and collecting varies of information through a book which I borrowed from INTEC library. The title was Frederick W. Smith : Founder of FedEx by an author named Sheila Wyborny. I am also conducting my research through information searching using main important global medium nowadays which is an internet
1.INTRODUCTION – ABSOLUTELY OVERNIGHT
Young Fred Smith had an idea. He believed it was possible to get shipments from one place to another overnight, even all the way across the country. In fact, he believed he could put together a transportation network that could guarantee overnight delivery. With this network in place, he would build a business empire. Smith first wrote about his plan in a college paper. His professor was unimpressed. Smith was not discouraged, though, and did not forget his idea. After college, Smith entered the military service. He served in Vietnam, earning several medals for bravery. In the service, Smith learned a great deal about how to lead people successfully. Upon his discharge from the service, Smith moved to Arkansas, where he took over and rebuilt a failing family business. As he worked to rebuild the business, one of the biggest problems he encountered was the slow delivery of airplane parts that he needed. He realized that the idea he had written about in college would solve the problem of delayed shipments. Smith decided it was finally time to put his idea to work. That idea grew to become Federal Express. Smith set up the company’s headquarters in Memphis, Tennessee, in 1973. The company was not an overnight success. At first , it lost a great deal of money. By the end of the 20th century, however, FedEx Corporation was handling over 6 million shipments a day.
2.THE OPPORTUNITY – ON HIS OWN.
In the fall of 1962, eighteen-year-old Fred Smith left Memphis and traveled over a thousand miles (1,609 km) to attend Yale University in New Haven, Connecticut. Smith’s mother had often told her son that his father had wanted him to have a top-notch education, and Yale is one of the most esteemed colleges in the country.
Big Changes and Personal Tragedy
At Yale Smith was far away from the people who had helped him make wise choices. He intended to study economics and political science, but for a while he was more interested in social activities and sports than in studying. Later, he made no excuses for his poor grades that first year. “I was a crummy student,” he admitted. Smith played football, but he badly injured his knee in a practice session and had to drop off the team. He also interested in a Yale organization called Skull and Bones, which was for seniors. Many important people...