...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...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...
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...History of Verizon Verizon Communications, Inc. was formed on June 30, 2000 with the merger of Bell Atlantic Corporation and GTE Corporation, in New York City and incorporated in Delaware. On July 3, 2000 Verizon began trading on the New York Stock Exchange (NYSE) under the VZ symbol. On March 10, 2010 they began trading on the National Association of Securities Dealers Automated Quotations (NASDAQ). The mergers that formed Verizon had roots going back to the beginning of the telephone business in the late nineteenth century. With the regulation by the government and the signing of the Telecommunications Act on February 8, 1996, Verizon saw promise of a new competitive marketplace. In 2004 Verizon was added to the Dow Jones Industrial Average. And in 2006, with the addition of MCI, Inc,, Verizon became a leading provider of advanced communications and information technology to large businesses and the government customers worldwide. The merger of Bell Atlantic and GTE was valued at more than $52 billion. The purpose of the merger was to build a dynamic company that is capable of competing in the industry’s top-tier level. It took two years for the merger to close. In the meantime, Bell Atlantic and Vodafone Air Touch, now Vodafone Group, announced their agreement to create a new wireless business. The new “Verizon” brand was launched on April 3, 2000, after a six month wait for regulatory approval, and began operating as Verizon Wireless on April 4th. GTE’s wireless operations...
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