Key Aspects Of The Company Essay

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Discuss key aspects of the company.

A) What is the nature of the company’s business?
Verizon is motivated and determined to find the most innovative and effective way for its customers to connect and communicate. Its strategy for continued growth and profitability is to deliver great wireless and wireline services.
B) What is its principal industry and where does it stand in relation to others in the industry?
Verizon Communications’ principal industry is Verizon Wireless. It serves about 113 million retail connections, and is the number one wireless phone service in the United States. However, AT&T is its biggest competitor, and compared universally, Verizon is second as the telecom service provider. Through its’ wireline unit, over 18 million voice connections have been made, and Verizon has provided local telephone, long-distance, internet access, and digital TV services to residential and wholesale consumers.
C) How does it generate its revenue?
Verizon’s revenue is mainly generated through its wireless services. In 2015, revenue increased by 4.6%; which was the consequence of a 54.4% growth in equipment revenue. Equipment includes primarily smartphones, but also payment programs. Verizon offers its customers a choice to pay higher wireless service charges, in exchange for subsidized prices for wireless devices. Below is a breakdown of 2015’s revenues.

D) What is the size of the company with respect to sales, assets, number of employees, other benchmarks?
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