Verizon: Analysis of the Wireless Business

As of late 2004, Verizon is already considered the world's largest telecommunication company with annual revenue of $67.8 billion. Their continued plans are leading toward acquisition and development of fiber technology, which will allow it to offer cable TV services. Apparently they are still apprehensive regarding business customer and plan to extend add-ons again into the private sector, which worked for them in 2003.

The generation of talking face-to-face is slowly fading away, and the technology era is going to keep on growing. One of the most widely used technology services known today is the cellular phone industry. According to the Pew Research Center’s website, 90% of American adults own a cell phone. Of that 90%, the smartphone ownership is at 64% (2013). Verizon Wireless, along with the other major carriers, T-Mobile, Sprint, and AT&T, have taken this data and comprised a growing industry where competition arises from all angles. These companies have battled one another on pricing, plans, and customer service for many years in order to stay on top. Unfortunately, these are major factors in whether or not a customer will choose the particular company over another.

In business, market structure plays an important role, which helps to shape the competitive landscape for businesses at all levels. Each business industry will naturally form a market structure that comes in numerous forms: Perfect competition, monopolistic competition, oligopoly, or monopoly. Verizon Wireless is a well-known communications company and large enough to affect the market. Oligopoly is defined as a market in which only a few firms dominate, and judging from Verizon competition there are only a few firms involve: T-Mobile, AT&T and Sprint. With only few competitors involve the barrier to entry is high, but there still lies a large pool of customers. The barriers are high because of the amount of money that has to into the infrastructure

​Verizon Wireless, officially incorporated as Verizon Communications Inc., is a company that provides communication, information, and entertainment products and services. Its consumer base consists of the general public, as well as businesses and governments. Its business operations can be divided into parts, which are Verizon Wireless and Wireline, though Verizon doesn't advertise its Wireline business by name. Instead, Wireline is advertised to the public as part of Verizon Wireless' services. Some of the services that they provide are phone equipment sales, wireless voice and data services, broadband internet access, network access, internet protocol network services, and various on-demand video streaming. Now providing services in over

“We are committed through our actions and the services we provide to positively impact the communities and customers we serve. We strive to conduct business responsibly and ethically, maintaining our reputation for trust and responsibility wherever we operate,” (Verizon. (n.d.)). At Verizon, they engage their employees with challenging and meaningful work; establish the value that would last for the society. They are devoted to place their customers first by providing excellent service and exceptional communication experiences, (Verizon. (n.d.). They are committed and honor their

Revenue Recognition – since Telco’s main source of revenue is from access and usage of network, it is important to understand how this revenue is recognized and earned. Verizon bills its access revenue in advance and is recognized when the revenue is earned. The usage revenue is billed exactly the opposite, in arrears. This revenue is recognized when services are rendered. When handsets are delivered to a customer, as well as additional equipment revenue, is when the revenue from these transactions is realized (Verizon notes, 2014).

“Verizon Communications Inc. (Verizon) is one of the world’s leading providers of communications services. Verizon’s wireline business, which includes the operations of the former MCI, provides telephone services, including voice, broadband data and video services, network access, nationwide long-distance and other communications products and

As corporations and businesses evolve, they must adapt to the changing landscape of societal, environmental, and corporate-success needs. To achieve such responsibility, Verizon Communications Inc. has, and continues to, meticulously plant its feet into the web of the triple-bottom line. While maintaining their credo which is “a blueprint that directs us to live up to the highest standards when serving our customers, shareowners, communities, and each other”, Verizon aligns their overall goal to “design, build, and operate global networks, information systems and mobile technologies that connect people, grow businesses and economies, and improve communities” (Verizon.com). The

1. Mission, vision, and primary stakeholders Verizon's corporate mission statement is published in the introduction to the 2010 report, "to enable people and businesses to communicate with each other. We are also committed to providing full and open communication with our customers, employees and investors" (Verizon, 2011a, p. i.). This conveniently outlines the primary stakeholders, with customers owning the service delivered through contracts they commit to, employees obviously having a stake in compensation, benefits and retirement, and investors including institutions as well as individuals. Other stakeholders include the general public who benefit from corporate giving and responsibility, and the suppliers and distributors, their shareholders and employees who earn profit and wages generated directly and indirectly as part of the Verizon value chain, and perhaps the taxpayers who enjoy public services from direct and indirect (capital gains) taxes thereby.

Mobile is most useful invention of the science and technology which has helped the world to stay connected. Verizon wireless is the largest mobile network operator in the United State with its head office based in Basking Ridge, New Jersey. Verizon wireless is the most reliable and largest wireless communication service provider providing services such as voice, messaging and 3G data product with total customer base of more than 110 million. Verizon wireless is a trade name which is used by Cellco Partnership Inc. in U.S.

In its 2012 annual report the company states “innovation in networks is the foundation for growth across the whole industry.” Therefore, Verizon has not only developed strong partnerships aimed at enhancing services; the company has also expanded into the digital healthcare industry, reduced reliance on energy usage, and will continue to expand vertically to other industries where their technologies can influence social change.

Verizon's financial position is not very impressive. The company has $49 billion debt load. Moreover the Gross Profit Margin of 2003 has decreased to 0.67, which was 0.70 in 2002 (financial/accounting).

The purpose of training and developing within any organizations is to improve the overall effectiveness of goods, product and services, competitiveness, and emphasizes growth in all aspects. It also increases productivity, develop employee turnover, increases financial gain, and lessens the managerial and supervisory positions. Training and developing is essential to obtain but many employers have different perspectives of what training and developing means for its organization. Verizon is one of the leaders in innovative wireless communication and in delivering broadband to businesses, mass market, wholesale, government, and it services over 80 million customers across the world. The

The success of the economic agents depends on a multitude of forces, such as the managerial ability to combine and exploit the resources in an efficient manner, the ability to manage the labor force or the ability to develop positive relationships with the external stakeholder, such as the customers, the business partners, the public and so on. Still, while all these factors are crucial, they are merely adjacent to the core operational function which builds towards organizational success, namely the organizational operations.

There is the presence of bureaucratic structure. Verizon Company has a very clear hierarchical power arrangement. It is headed by a CEO, Lowell McAdam, and other executive leaders, and then section leaders under them and finally the employees (Freifeld, 2012).