Verizon Communications : Analysis And Company Overview

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.

§ Diverse markets - Telecommunications markets can local, regional, or global. Furthermore, customer can include residential, business, and government markets.

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.

Verizon Wireless is a big time cell phone company in which for years now, has been widely regarded as the top of competition. Which include companies such as at&t, sprint, and T-Mobile. While there are many other companies these are seen as the tops of competition in regards to others. Verizon in many of its commercials use a variety of rhetorical tactics to persuade you to believe they are truly the best in service. These tactics include providing coverage maps, using colorful balls in which compare between the four companies, and using written text stating facts about their coverage and overall service. While verizon may be the top in service all around I do believe some things are a little stretched.

Verizon Communications Inc. is a provider of communications services with for operating segments: Domestic Telecom, Domestic Wireless, information Services and International.

“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

Verizon is a major telecommunication provider in the United States. The company is the market leader, with $110 billion revenue and $2.4 billion in profit (MSN Moneycentral, 2012). Verizon has steady revenue streams that are largely based on a subscription model. It has several business segments, including wireless (63.3% of revenues) and wireline (36.7%) (2011 Verizon Annual Report). Most of this report will therefore focus on the wireless business, not only because this is the largest business that the company operates but because it is a rapidly growing and evolving business as well, a function of the rapid pace of smartphone adoption in America.

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.

From a business-level strategy, Verizon Wireless is the leader in customer service, according to consumer reports, with an overall satisfaction score of more than 72 percent.

Verizon Communications is not well placed against its competitors like AT&T who offer services using technologies like TDMA (time division multiple access) (production).

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.

The Verizon Communication Company deals with the sale of products like mobile and fixed telephone and offers broadband wireless internet services in America. It was founded in 1984 as Bell Atlantic and later changed the name to Verizon Company after merging with GTE in 2000 (Sbeit, 2008).

In analyzing Verizon's strengths, it is apparent that they have strong brand recognition in the market and industry. They are not only the leader in market share for wireless presence in the U.S., they were also ranked at the top for branding and customer loyalty in the wireless phone category and received the 2005 BrandWeek Customer Loyalty Award as a result (Verizon Customer Satisfaction – Award & Recognition, 2005). In addition to strong brand recognition, Verizon is ranked the