Changing How the World Does Business : Fedex's Incredible Journey to Success - The Inside Story

For a long time, it looked like FedEx would never get off the ground. The company's early years were an unending series of legal, financial, and operational crises that continually threatened its ability to stay in business. Yet FedEx's leaders and employees were incredibly resourceful and resilient. Pilots used personal credit cards to gas up planes, paychecks weren't cashed, and in one of the most famous episodes, founder Fred Smith literally gambled the company's last remaining funds to keep the planes flying. Becuase Roger Frock was with the companies from the start, he is able to chronicle these real-life hardships and hard-fought triumphs as only an insider can. With humor and insight, he describes how FedEx overcame impossible odds to become one of the world's greatest success stories, a revolutionary company that truly changed the way the world does business. Contents......Page 8 Foreword......Page 10 Acknowledgments......Page 16 Introduction: A Case History of Courage and Tenacity......Page 18 PART I: From Skepticism to Affirmation: Before May 1972......Page 24 1 The Trail of Inspiration......Page 26 2 Checking with the Experts......Page 32 3 Feeling More Comfortable......Page 36 4 This Dog Might Hunt!......Page 40 5 An Irrational Decision......Page 44 6 Kick the Tires, Light the Fires......Page 48 PART II: Naïve Optimism: May 1972 to March 1973......Page 52 7 A Climate of Chaos......Page 54 8 Looking for a Few Good People......Page 60 9 Mr. Smith Goes to Washington......Page 68 10 The Humble House Gang......Page 74 11 Good-bye, Little Rock—Hello, Memphis......Page 78 12 The Company Lodestar......Page 82 13 More Obstacles......Page 88 PART III: Within an Inch of Failure: March 1973 to May 1974......Page 94 14 Let’s Call it a System Test!......Page 96 15 The Marine Corps Boot Camp Mode......Page 100 16 An Inauspicious Beginning......Page 106 17 Rescue at the Edge of a Precipice......Page 110 18 Light at the End of the Tunnel......Page 118 19 A Little Help from Our Friends......Page 128 20 Summoned to a Special Meeting......Page 134 PART IV: One for All and All for One: June 1974 to May 1978......Page 142 21 A General in the Guerrilla Camp......Page 144 22 Fund-Raising—Round Three......Page 152 23 America, You’ve Got a New Airline......Page 158 24 A Threatened Resignation......Page 164 25 Three Division Offices......Page 172 26 Just Step out of the Way......Page 176 PART V: Transformation and Separation: May 1978 to January 1982......Page 186 27 From Caterpillar to Butterfly......Page 188 28 Mach 1 to Idle......Page 194 29 Concordes, Dirigibles, and Separation......Page 202 PART VI: A New Model for Success......Page 216 30 People Are the Wind beneath Our Wings......Page 218 31 Changing How the World Does Business......Page 228 Appendix: Time Line for the Startup, 1971 to 1982......Page 234 A......Page 240 C......Page 241 D......Page 243 F......Page 244 K......Page 247 M......Page 248 P......Page 249 R......Page 250 S......Page 251 U......Page 253 Z......Page 254 About the Author......Page 256 From humble beginnings, FedEx has literally revolutionized the way business is conducted. Not too long ago, overnight shipping was barely an option for even the largest companies. Today, thanks to FedEx, it's available to every living room start-up. With annual revenues of $30 billion, more than 250,000 employees, 600 aircraft, and 70,000 surface vehicles, FedEx handles nearly six million shipments a day in two hundred countries. FedEx has become a household name, and has been named one of the top ten of America's Most Admired Companies by Fortune magazine. But it wasn't always easy. From his inside vantage point as the company's first general manager and chief operating officer, Roger Frock reveals the remarkable details of how Fred Smith and his team endured their tumultuous early years--fraught with a seemingly unending series of legal, financial, and operational crises that continually threatened the company's ability to stay in business--and, in the end, created an entirely new industry. Frock chronicles the dramatic last-minute saves and turnarounds the company engineered from its inception to the present. He entertains with stories of the trials and tribulations of the company's early struggles and victories--from Pilots using personal credit cards to fuel planes, to the courier who hocked his watch to put gas in his delivery van, and, one of the most memorable episodes, the time that founder Fred Smith literally gambled the company's last remaining funds to keep the planes flying. Frock's story introduces all the players--FedEx's resourceful and resilient leaders and employees--and shows how these remarkable individuals gave Fred Smith's original concept wings and, through flexibility, creativity, and commitment, made a fledgling startup into one of the great success stories in modern business. Changing How the World Does Business is an inspirational tale for leaders and entrepreneurs everywhere. From humble beginnings, FedEx has literally revolutionized the way business is conducted. Not too long ago, overnight shipping was barely an option for even the largest companies. Today, thanks to FedEx, its available to every living room start-up. With annual revenues of $30 billion, more than 250,000 employees, 600 aircraft, and 70,000 surface vehicles, FedEx handles nearly six million shipments a day in two hundred countries. FedEx has become a household name, and has been named one of the top ten of Americas Most Admired Companies by Fortune magazine. But it wasnt always easy. From his inside vantage point as the companys first general manager and chief operating officer, Roger Frock reveals the remarkable details of how Fred Smith and his team endured their tumultuous early yearsfraught with a seemingly unending series of legal, financial, and operational crises that continually threatened the companys ability to stay in businessand, in the end, created an entirely new industry. Frock chronicles the dramatic last-minute saves and turnarounds the company engineered from its inception to the present. He entertains with stories of the trials and tribulations of the companys early struggles and victoriesfrom Pilots using personal credit cards to fuel planes, to the courier who hocked his watch to put gas in his delivery van, and, one of the most memorable episodes, the time that founder Fred Smith literally gambled the companys last remaining funds to keep the planes flying. Frocks story introduces all the playersFedExs resourceful and resilient leaders and employeesand shows how these remarkable individuals gave Fred Smiths original concept wings and, through flexibility, creativity, and commitment, made a fledgling startup into one of the great success stories in modern business. Changing the Way the World Does Business is an inspirational tale for leaders and entrepreneurs everywhere. The Trail Of Inspiration -- Checking With The Experts -- Feeling More Comfortable -- This Dog Might Hunt! -- An Irrational Decision -- Kick The Tires, Light The Fires -- A Climate Of Chaos -- Looking For A Few Good People -- Mr. Smith Goes To Washington -- The Humble House Gang -- Good Bye Little Rock, Hello Memphis -- The Company Lodestar -- More Obstacles -- Let's Call It A System Test! -- The Marine Corps Boot Camp Mode -- An Inauspicious Beginning -- Rescue At The Edge Of A Precipice -- Light At The End Of The Tunnel -- A Little Help From Our Friends -- Summoned To A Special Meeting -- A General In The Guerrilla Camp -- Fund Raising / Round Three -- America, You've Got A New Airline -- A Threatened Resignation -- Three Division Offices -- Just Step Out Of The Way -- From Caterpillar To Butterfly -- Mach One To Idle -- Concordes, Dirigibles, And Separation -- People Are The Wind Beneath Our Wings -- Changing How The World Does Business. Roger Frock. Includes Index.