Free Essay

Verizon

In:

Submitted By gj52gj52
Words 2162
Pages 9
Running head: Socio-Geographic Factors.
Socio-Geographic Factors
University of Phoenix
Socio-Geographic Factors Companies face many factors that affect the ways management can operate the business. In the United States companies are becoming global and facing challenges of attracting and retaining employees. This paper entails Verizon Communications’ policies and procedures that the company uses to address new and old issues that management faces. In today’s society many people come from diverse backgrounds and companies have to learn to work with the differences. Verizon Communications is a leader in providing broadband and other wire line and wireless communication innovations to business, government, mass market and wholesale customers. The company’s wireless operates the country’s most reliable wireless network. Verizon serves nearly 71 million customers nationwide. The company’s Wire line operations consist of Verizon Business, which produces innovative and flawless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of congregate communications, information and entertainment services over the nation's most highly developed fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,000 and last year originated working revenues of $93.5 billion (Verizon Communications, p.20).

Class and Work Values Class is described as the process of classifying people based on wealth, income, and education, family heritage, and ethnicity. The classifications are upper-upper class, lower-middle class, and working class that help us understand the variations and stratification. People who share certain characteristics tend to pursue the same lifestyles but in today’s multicultural society, classes tend to be more internally different. But in some countries like the U.S for example, believe in an open system where hard work can move a person from poor to upper class. The person has to be determined to change what class they are and can work hard to achieve the goal of moving up in the class system. However, for other countries birth and family heritage, money and education determines the class system and mobility is a slim chance for these people (Kottak & Kozaitis, ch. 13 p. 2). For some people no matter what they do they can’t move from one class to another just because the family they were born into. Even though this isn’t fair people from other countries have learn to accept the idea. But many people don’t want to accept the class that they are given. Some people petition to come to the United States to make a better life for themselves and their family, The company is one of the biggest providers of wire line and wireless communications in the U.S. and internationally. The company serves millions of customers and it’s essential that they have a comprehensive workforce. Verizon believes that the most influential communications solutions come from the thoughts and ideas of the company’s employees and will distinguish the company in the marketplace. The company’s meaning of diversity includes the range of human differences, including age, race, education, sexual orientation, gender, and work style. Over time Verizon has made diversity an integral part of the business (Verizon Communications, pg. 20). The company has Employee Resource Groups (ERG) which is an initiative on how diverse the company is. Some of the Employee Resource Groups are Asian Pacific Employees for excellence, Gay, Lesbian, Bisexual, and Transgender Employees of Verizon and their allies and Hispanic Support Organization. The company has many more groups but it shows that the company is very diverse and people no matter the class are given the opportunity to work for Verizon (Verizon Communications, pg. 20.). For many people applying for other jobs race and gender matter and they don’t even get the opportunity to even apply for the job. Verizon believes that the diverse minds, experiences, culture is what gives the company a competitive advantage. The diversity in the company is a vital connection to the customers, communities and shareholders. Verizon confidently believes that acceptance of diversity in the corporate culture is the right business strategy as well as the right practice to do (Verizon Communications, pg. 20). As a service business, Verizon has pride in the capability to comprehend and respond to the needs of the customer. The company has Multilingual National Centers that are accountable for sales and service to Verizon's small business and consumer customers in many languages, including Russian, Spanish, Mandarin, Korean, Vietnamese, and Cantonese. The company also provides Centers for Customers with Disabilities that give services for customers who are hearing, motion and vision impaired. The teams of employees come from diverse backgrounds that are dedicated to meeting the needs of the customers who have disabilities that may otherwise prevent them from taking advantage of some of the services the Verizon offers (Verizon Communications, pg. 20). Verizon ensures that they hire people from diverse backgrounds in order to fit the needs of the customer base. The goal of Verizon is to have a diversity strategy that the workplace is associated and incorporated where diversity is transparent and that Verizon is a comprehensive organization that leverages the diversity of employees, customers and supplier. The reasoning behind the diversity is to have increased productivity, profitability and enhanced reputation (Verizon Communications, pg. 20). Verizon makes it known that they are a diverse company because the use of advertisement and have publications of ranking high for a diverse company.

Management Issues in a Geographically Mobile Society In today’s geographically mobile society plenty of issues come about that companies face. According to Kottak & Kozaitis (2003), Americans tend to move around a great deal. Many of the people growing up in the United States tend to separate from the ones who raised them losing their family and cultural background. The costs of moving are to lose family and contact with friends can cause pain and sorrow for many. But the main advantage is for more money. In a geographic mobile society results in lower unemployment, higher labor force participation and is flexible for management. The economy encourages flexible hiring and firing practices, and changes in work conditions, types of jobs, and job descriptions. The United States compared with other technologically and economically advanced societies has a more mobile workforce. The major challenge for companies in a geographically mobile society is to attract good employees. According to Business Week Verizon Communication has been named one of the Best Places to Launch a Career. Out of 119 companies Verizon ranked 22nd higher than any other telecommunications company. "Attracting, retaining and developing the best talent is an essential part of Verizon's strategy for continuing a leadership position in broadband communications and bringing to market the next generation of products and innovations," said Marc Reed, Verizon's executive vice president - human resources (Anonymous, 2008). Verizon strives to create an exciting work environment that recognizes and rewards for performance. The company tries to make changes to fit the competing market and keep the employees from looking elsewhere. Verizon has been recognized as a leader in workplace practices by many publications. The company was named No. 1 among the Top 50 companies for Diversity which they have earned the top spot in the last 3 years. As well, for the 3rd consecutive year they have been on the list for Best Companies for Multicultural Women. For the 6th year in a row Verizon have been one of the Top 13 companies on the list for 50 Best Companies for Latinas to Work for in the United States. Lastly the company for the last 4 years has been named the top 15 for Diversity Elite 60, a list that measure company’s commitment to Hispanic hiring, promotion, marketing, and supplier diversity (Anonymous, 2008).

Regional Variations and the Affect Management Planning According to Kottak & Kozaitis (2003), regional variations can include variations in religion, race, ethnicity and speech. The ethnic diversity is increasing in North America, but in some states is more ethically diverse than others are. Management has to learn to work with the different variations and not expect employees to stand by any given culture. Everyone has many ideas and views in what they believe and in order not to have any problems management has to accept people’s differences. Verizon’s leadership team is devoted to ensuring that the company’s workforce mirrors to the customer base. The company’s senior leaders are held accountable for the company’s diversity through incentive programs. Multicultural employees are 30% of the company’s workforce and hold 16% of the company’s top management positions. Most of Verizon’s employees are women, and 29% of them hold key positions (Verizon Communications, pg. 20). The Development and Leadership Initiative, is an agenda intended to increase the direction of diverse employees. The two-year program assists workers to be aware of professional and personal goals, and provides high visibility access to top Verizon executives. The idea of the program focuses on the retention of women and minorities began with Hispanic employees. It has since expanded to include employees who are representative of Verizon’s entire employee base. The Hispanic Association on Corporate Responsibility cited the Development and Leadership Initiative as a "Corporate Best Practice for 2002." (Anonymous, 2008). Verizon has 23 diversity councils in business units across the company with precise strategies on leadership development, mentoring and diversity training. The company also has 12 employee resource groups that promote personal and professional growth for employees with the same interests (Verizon Communications, pg. 20).

Changing Definition of Family and the Affect on the Functions of Management According to Kottak & Kozaitis (2003), in the past decades family structure was defined as a nuclear family. They define family as consisting of two or more people, one of whom is the head of household, living together, who are related by birth, marriage or adoption. But in today’s society family can come in different forms. A family may consist of single parent and children, a domestic partnership, common law marriage, or many generations living together in one household. Verizon has adapted like many companies and offers benefits to the employees and their domestic partner. The company offers medical, dental, vision, prescription drug and life insurance. In today’s society family consists of just a mother, father and child so Verizon offers benefits to the employee and who is considered family whether it be a spouse or domestic partner. The company also offers flexibility for employees who need to balance work and home. The case may be caring for a child or a sick parent. Some positions offer alternative scheduling options, such as flextime. Telecommuting and a compressed work week. Verizon cannot offer this to every position in the company but makes every effort to accommodate the needs of the dedicated employees that they have (Verizon Communications, pg. 20). The company also offers 401(k), tuition assistance, and company discounts. Verizon also has an incentive program that recognizes individual performance in a direct way. The program is a Total Rewards Program that provides eligible employees incentives (cash bonus) to reward individual and company performance. The company also has many other benefits like backup care that reassures employees that they have backup if a regular caregiver is ill or on vacation. This program is intended to help the employee if ever stuck in a crisis. Verizon offers childcare discounts and employees assistance programs to help employees stay healthy (Verizon Communications, pg. 20). The company offers many benefits to attract and retain the employees from looking elsewhere. Verizon offers adoption assistance for employees to expand their families through adoption. The company is there to help with the financial burden by defraying some of the costs. The program also provides time off for the employee to spend with family when needed most. Lastly the company offers paternity leave as well as maternity leave giving the opportunity for each family member to have time off (Verizon Communications, pg. 20). The company offers benefits not only for the employee themselves but for whoever may be considered as family. Times have changed and Verizon has adapted to these changes making it beneficial for the employee.

Conclusion Companies face many socio-geographic factors that influence the ways management conduct the business. The paper outlines that Verizon has already recognized itself as corporate leader in diversity and will continue to keep diversity at the front position of the company. The company addresses many of the socio-geographic factors with policies and flexibility to the employees.

References

Anonymous. (2008). Verizon; BusinessWeek Names Verizon to Magazine’s List of Best Places To Launch a Career, for Third Consecutive Year. Internet Networks & Communications. Atlanta. pg. 60.

Kottak, C.P., & Kozaitis, K.A. (2003). On Being Different: Diversity and Multiculturalism in the North American Mainstream, 2e. Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary/content/eReader.h.

Verizon Communications (n.d). Company Profile. Retrieved January 9, 2008 from: http://www.vzmultimedia.com/diversity/index.asp?PageID=message

Similar Documents

Free Essay

Verizon

...Running Head: VERIZON: STRATEGIC TRAINING AND DEVELOPMENT REPORT Verizon: Verizon Who doesn’t remember asking or being asked, “Can you hear me now?”? This phrase was used in effort to find a good signal so that both parties on a mobile phone conversation can be heard? Consequently, the commencement of the cell phone dance would continue until a successful signal was found. Verizon took the negative sting off of this phrase by breaking out the “Test Man” in 2002. The “Test Man” moved around to all sorts of weird places from manholes to the deep ends of a swamp, all while repeating, “Can you hear me now? Good!” (Test Man Launch, 2009). Currently, “Can you hear me now?” is regarded in a positive and humorous light expressing that customers will not have the same experience as they did with other cell phone providers. This cutting edge approach of introducing those commercials was an ingenious way of highlighting Verizon’s products’ efficiency and greater coverage areas that well surpassed their competition. People that never heard of Verizon or was not too familiar with their products and services know now that this company is associated with excellence in the quality of what they deliver. This communications giant is headquartered in New York City, New York and has an annual revenue $106.6 billion dollars (Freilfeld, 2012). Verizon employs almost 200,000 employees and touts an impressive 12th consecutive year of being recognized as one of the world’s top...

Words: 2028 - Pages: 9

Premium Essay

Verizon

...Verizon Tony Gauvin All images from www22.verizon.com ©2005 Tony Gauvin, UMFK Overview    Existing Condition New Vision and Mission External opportunities and threats   CPM EFE   Internal strengths and weaknesses  IFE SWOT Matrix SPACE BCG IE matrix Grand Strategy Matrix QSPM Analysis         Possible strategies Recommendations   Strategic implementation and desired results Annual objectives (goal) and polices  Evaluation Procedure Wednesday, March 23, 2005 © 2005 Tony Gauvin, UMFK Verizon Overview  Verizon Communications Inc. is a provider of communications services with four operating segments:  Domestic Telecom  Domestic Telecom services principally represent Verizon's telephone operations that provide local telephone services in 29 states and the District of Columbia  Domestic Wireless  Domestic Wireless products and services include wireless voice and data services and equipment sales across the United States. The Information Services segment encompasses Verizon’s domestic and international publishing businesses, including print SuperPages and electronic SuperPages.com directories, as well as Website creation and other electronic commerce services. This segment has operations principally in North America and Latin America The International segment has wireline and wireless communications operations and investments primarily in the Americas, as well as investments in...

Words: 3995 - Pages: 16

Premium Essay

Verizon

...Verizon 1. Business Unit * Operates three business units * Verizon Wireless – Wireline * Verizon Business 2. Mission Statement Mission Statement13“Verizon’s mission is 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.” 3. Vision Statement For our Core Goals, we decided on just one: To create the most respected brand in communications. 4. Internal Resource (1)Organizational Culture: • Employees Own Their Career • Employee Training - Tools & framework available to resolve any customer problems - Support - Passion & Training • Place to Grow • Get Degree Verizon Pay • Medical / Health Benefits compensation for tuition • Day care program/Mother’s Room (2) Technological Resource: * Reliable / Robust Wireless Network * advance Fiber Network (3) Financial Performance / Position (4) Physical Resource: Acquisition & Merger • January 2006 4- Verizon Communications closed its $8.44 billion acquisition of long-distance carrier MCI • January 2009 5- Verizon Wireless $28.1 billion acquisition of regional carrier Alltel Wireless is finally complete, making the combined company the largest wireless carrier in the United States. • April 20116 - Verizon Communications (VZ) has closed its $1.4 billion acquisition of Terremark Worldwide, clearing the way for Verizon to lead the rapidly evolving global managed...

Words: 264 - Pages: 2

Premium Essay

Verizon

...VERIZON COMMUNICATION INC. Telecommunication industry is one of the fastest growing industries in the world, with advancement in internet technology, advancement in trade and commerce, social dynamics and an ever-expanding global market. Telecommunication has become one of the most essential mediums that facilitate communication, interaction and transaction in both social and economic platforms. To this end, many companies have invested billions of dollars world wide in an attempt to rip some of the benefits the young but lucrative industry has to offer. Verizon Communication Inc. is one such industry that has grown to become an international player. Verizon is one of the largest telecommunication company in the U.S. with a vast network in the U.S. and Europe and roaming capabilities that have enabled the company to have a world wide access. Verizon Communication was formed in 2000 after a merger of Vodofone and Bell Atlantic to form Verizon wireless. The company later merged with GTE a long distance fixed line provider to form Verizon communication and became the largest long distance coverage provider covering 29 states. The company later merged with MCI inc. to form the second largest wireless service providers in America. Verizon Communication has three major segments, namely fixed line communication, information and directory services and wireless services with numerous innovative and distinct products that it offers to consumers. Verizon Communication industry is the...

Words: 3059 - Pages: 13

Free Essay

Verizon

...VERIZON FIOS VS BRIGHT HOUSE TRIPLE PLAY Whether you're moving to a new area or you're just shopping for the best deal, it's smart to compare broadband providers. If you live in an area with both Verizon Fios and Bright House Networks then you've got a tough decision ahead of you. Having been a customer of both Verizon FiOS and Bright House Networks, I've created a simple comparison guide to help you make an informed decision. Verizon FiOS is the nation's largest fiber optic provider offering service to over 40 million people across the country. Verizon FiOS is known for it's blazing fast internet, thanks to it's state-of-the-art fiber optic cables technology. The biggest problem is it isn't available in all areas. Overall if you are looking for the fastest internet in your neighborhood Verizon FiOS is your choice, unless you want to pay $$$$ for a business class broadband connection. Bundle / Triple Play Pricing: Like most providers, Verizon FiOS offers bundle and triple play deals regularly. Fiber Optic Internet: Verizon FiOS offers some of the fastest broadband plans in the industry, with plans starting at 25/25mbps ranging all the way up to 500/500mbps, consumers are finally able to get "business quality" internet connections without paying thousands of dollars a month. Additionally, while most providers just advertise fast download speeds, Verizon offers symmetrical download speeds meaning that your upload speed is as fast as your download speed. This fact alone is almost...

Words: 672 - Pages: 3

Premium Essay

Verizon Wireless

...Verizon Communications Inc. Financial Management Analysis Table of Contents Executive Summary 4 Mission Statement 5 Vision Statement 5 History 5 Business Summary 9 Financial 10 Employees 10 Products Offered 11 Wireless 11 Enterprise/Mid-Market Business 12 Key Enterprise Products and Services 12 Residential/ Small Business 13 Key Residential and Small Business Products and Services 13 Community Work 14 Fast Facts 15 Customers and Target Market 15 Financial Ratios Balance Sheet Balance Sheet Financial Analysis Income Statement Analysis Cash Flows Statement and Analysis WACC Calculation Financial Planning Forecast Forecast Analysis Forecasted Balance Sheet and Analysis Forecasted Income Statement and Analysis Conclusion [pic] Executive Summary Verizon Communications, Inc., with Headquarters in New York City; Operations Center in Basking Ridge, N.J. is a Dow 30 company and the most reliable wireless network with 106.3 million total connections. Verizon, a global leader in providing broadband and other wireless and wire line communications services to mass market, business, government and wholesale customers; operates nearly 143.7 million customer connections (wireless, wire line, broadband and TV) served every day. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic...

Words: 5170 - Pages: 21

Premium Essay

Swot Verizon

...without talking about Verizon Wireless. It is the leader in the wireless world for cellular phones, tablets as well as service. They launched the first 3G (third generation) wireless broadband network in 2000 as a joint venture of Verizon Communications (About Verizon Wireless, n.d.). Verizon plans to be the leader in technology, "The Verizon commitment is to put our customers first by providing excellent service and great communications experiences. This is what we do, and this is why we exist. By focusing on our customers and being a responsible member of our communities, we will produce a solid return for our shareowners, create meaningful work for ourselves and provide something of lasting value for society. As a result, Verizon will be recognized as a great company” (About Verizon Wireless, n.d.). We can see the strengths and weaknesses of Verizon Wireless, along with the different opportunities and obstacles that have and will be coming in the near future. When you’re paying a monthly bill for your cell phone, you want to make sure that it is for the best service available. With Verizon Wireless, you get the largest 4G LTE (fourth generation long term evolution) coverage area that covers over 90% of the United States population (About Verizon Wireless, n.d.). Living in a small town, at your workplace or traveling all over the U.S. making sure you’re getting the most of your money is important. There are over 100 million wireless connections due to Verizon Wireless all around...

Words: 1441 - Pages: 6

Free Essay

Verizon Case

...Verizon: A Platform for Change The name says it all – “a platform for change.” Although steeped in an ever-changing market, Verizon has been able to not just keep up, but excel. With innovations rampant, and competition always on its heels, Verizon has to keep up in ever aspect of the game. This was a challenge for the managers but they were able to change and change and change, which was key. Verizon is a full-service communications provider, which means major competition from every side. Competing against cable providers such as Time Warner Cable, wireless providers like AT&T and Sprint, and Voice over Internet Protocol like Vonage, means that Verizon has A LOT to keep up with. It would take an innovative managerial system to fight back against all this competition, which is exactly what Verizon had. When Seidenberg and his team decided to split the wireless and wireline sections of the company, they proved just that. They needed to protect the formation of wireless as the wireline segment provided more than just sales for all types of consumers. Even more importantly, with the purchase of MCI, they ushered in a new segment in Verizon Business that would bring even more to the table, shifting orientation toward global markets. The acquisition of MCI also helped with the transitioning culture jumpstarted by the growing wireless market, which was faster in nature than the wireline culture. MCI was entrepreneurial in culture, which helped Verizon adapt to the changing conditions...

Words: 1039 - Pages: 5

Premium Essay

Verizon Wireless

...Verizon Wireless Nancy Wilcox Strayer University Prof. Ali Kalantari Verizon Wireless Verizon Wireless officially entered into the communications market on April 4, 2000. A joint project of Verizon Communications and Vodafone, Verizon Wireless is the self-proclaimed leading supplier of wireless communication in the United States, offering service in more places across the country than any other service provider. While Verizon Wireless did not begin corporate operations until 2000, its history can be traced back many years.  The company’s roots can be traced to two distinct companies: Bell System and General Telephone & Electronics Corp. (GTE). Verizon Communications was formed on July 27, 1998, from a merger of Bell Atlantic Corp. and GTE Corp. (Verizon Communications, 2003) At the time of the merger, GTE was the leading provider of wireless phone service in the United States with 7.1 million customers and another 6.7 million customers in the international market.  Bell Atlantic’s Global Wireless service had 7.7 million customers of its own at the time of the merger.  In the works for more than two years, this merger had to be approved by stockholders of both companies, 27 separate state regulation committees, and the Federal Communications Commission (FCC), as well as needing clearance from the Department of Justice.  The merger combined the extensive infrastructure of Bell Atlantic with the advanced data communications ability of GTE (“(History Of Verizon...

Words: 1498 - Pages: 6

Premium Essay

Verizon Finanacial

...Verizon Communications Inc. NYSE: VZ   Student Investment Fund Stock Report Analysts: Xi Cheng, Tanner McAndrew, Luke Thompson, and Daniel Wadsworth Recommendation: Buy Market Cap: $86.2 B Recent Price: $32.69(12/1/2009) Target Price: $47.11 Industry: Telecom Services Sector: Technology HIGHLIGHTS  VZs subsidiary (Verizon Wireless) is the world’s largest wireless service provide  VZ is expanding its presence in wireline services through an advance fiber optics network service called FiOS  VZ has experienced growth in revenue over the past five years and is on pace for an 11% increase in 2009  VZ has a consistently increased its dividend payout  There is large potential growth and development in the Telecom Industry  VZ has competitive advantages in distribution network and pipelines  Early Adoption of 4G Network  Ranked as top 1 wireless service provider in annual consumer report INVESTMENT THESIS  Demand for and dependence upon wireless technology has exhibited a strong upward trend which is expected to continue in the future. Verizon is competitively positioned to take advantage of this trend.  Broadband service and the popularity of bundled services have increased substantially. With Verizon’s recent investment in this sector, the firm is expected to capture an increasing portion of demand.  VZ’s ability to successfully generate a strong ROIC, add economic value, and further improve their dividend payout coming out of a deep recession demonstrates the...

Words: 10151 - Pages: 41

Free Essay

Verizon Wireless

...Verizon Communications, Inc. was originally started as Bell Atlantic. Bell Atlantic merged with another regional Bell company, NYNEX but remained under the name Bell Atlantic, but later in 2000 they merged with phone company GTE and took on the name Verizon, which is Latin for truth and horizon. Later in 2005, Verizon acquired MCI Inc. also known as WorldCom. Verizon gained large scale business customers, long haul carriers, control of most of the east coast and it became the beginning of a market advantage when they officially incorporated MCI and became Verizon Business. Verizon Business became the largest telecommunications company in the world in terms of assets and profits (Forbes 2007). The transition from land wire-based to wireless communications has been a major change driver for the whole telephone market, including Verizon. As of August 2011, the profitability of the company's "wireline" business had slipped substantially below that of its mobile division and continued to degrade, a situation reflected in and used to directly support downward revisions to "wireline" worker compensation, potentially impacting on the order of 45,000 workers in the United States (Eltman 2011). The company offers several services. These include fixed-line voice, fixed-line data, fixed-line television, wireless voice and data and directory operations. As of 2011, Verizon Communications is the largest wireless carrier in the United States and in 2012 became the largest fixed-lined provider...

Words: 477 - Pages: 2

Free Essay

Verizon Company Paper

...Financial Outcomes for Verizon Communications Financial Outcomes for Verizon Communications Verizon communication is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, and government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with 107.7 million total connections as of September 30, 2011. Verizon also provide converged communications, information and entertainment services over America’s most advanced fiber-optic network, and deliver integrated business solutions to customers around the world. A Dow 30 company, we employed a diverse workforce of approximately 195,400 as of September 30, 2011, and generated consolidated revenues of $82.4 billion for the nine months ended September 30, 2011(Verizon Communications, 2011). In 2011, chairman and CEO Ivan Seidenberg discussed in his annual report one financial initiative Verizon was working on in 2011. Mr. Seidenberg stated “We have a vision of the future based on expanding markets and mobility, broadband and video. We invest capital in network technologies that put us in the center of these growth markets,” (Seidenberg, 2010). In 2011, one initiative Verizon will be working on is to invest capital to expand in the mobile, broadband and video markets. Team A will compare and contrast the potential initiative Verizon has stated for 2011. Team A will...

Words: 684 - Pages: 3

Premium Essay

Verizon Financial Summary

...June 30, 2000, Bell Atlantic Corp. and GTE Corp. merged to form the company known as Verizon Communication, Inc. Being the new 21st Century company this merger, in which formed Verizon, had been years in the making, roots can be traced to the beginning of the telephone business. Although government regulations framed the industry, the federal law shifted to more of a market based policy. This became a driving force that built Verizon in a competitive market place. In recent history “Verizon is the leading provider of advanced communications and information technology solutions to larger businesses and government customers worldwide” (Verizon). However, since 2008, Verizon has upgraded and expanded its company, from investing $9.4 billion...

Words: 941 - Pages: 4

Free Essay

Verizon Swot Analysis

...SWOT Analysis Of Verizon Communications Author DeVry University Instructor Principles of Management/MGMT-303ON Spring Session A March 22, 2008 Introduction As Stacy Collet stated, “In order to swat the competition you need to understand SWOT. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. It's a way to analyze a company's or a department's position in the market in relation to its competitors. The goal is to identify all the major factors affecting competitiveness before crafting a business strategy. “Verizon, formerly a Communications has now evolved into an Entertainment Company. Verizon now provides Telephone, Television and Internet services. (ComputerWorld, 2002) History Verizon Communications Inc., based in New York and incorporated in Delaware, was formed on June 30, 2000, with the merger of Bell Atlantic Corp. and GTE Corp. Verizon began trading on the New York Stock Exchange (NYSE) under the VZ symbol on Monday, July 3, 2000. The symbol was selected because it uses the two letters of the Verizon logo that graphically portray speed, while also echoing the genesis of the company name: veritas, the Latin word connoting certainty and reliability, and horizon, signifying forward-looking and visionary. While Verizon is truly a 21st century company, the mergers that formed Verizon were many years in the making, involving companies with roots that can be traced to the beginnings of the telephone...

Words: 1302 - Pages: 6

Premium Essay

Verizon Organizational Culture

...The case study titled "Verizon Is Creating a Culture That Focuses on Shareholder Value" describes competing values. Using that framework as a guide, Verizon's current organizational culture is the Clan Culture. "A clan culture has an internal focus and values flexibility rather than stability and control" (Kinicki & Williams, 2013, p.229). Verizon has taken the time to educate and train their employees. They have also taken the time to develop special programs to help senior members understand their shareholder value. The program is ran by the CEO Lowell McAdam and CFO Fran Shammo. In this program called L.S.V. for short the senior leaders identifies obstacles that may prevent more or future shareholder value. They also have them crossing...

Words: 290 - Pages: 2