Essay about Verizon Wireless Company Analysis

Words: 916
Pages: 4

A. Identify the company’s vision, mission and strategic objectives
Vision statement: * Be committed to our business and improve benefits to our customers as wireless product technology changes. * Implement greater exposure through expanding, customer referrals, and innovative marketing. * Continue to grow in our market while ensuring sustained profitability. * Lead the market in customer satisfaction by meeting their wireless needs and exceeding their expectation.
Mission statement:
“As a leader in communications, 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”
“We pledge to
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2. Evaluate how the company is responding to the general environment factors and identify the type of strategy the company adopts
From its corporate standpoint, Verizon’s strategic goals are to provide the most reliable wireless services to its customers, and it has done so through investing capital in new technologies in order to stay on top of trends and remain the most innovative provider in the industry. The rapid increases in demand for mobile data has been the biggest driver for Verizon’s innovative technologies, and the company has adapted to these changes in the external environment by embracing Prospector strategy through the following actions: * In 2012, Verizon acquired additional wireless spectrum from a consortium of cable companies, increasing their bandwidth support, which puts them in a strong position to capitalize on the expected growth within the industry. * In early 2013, the company launched its 4G LTE wireless network and became the industry leader thanks to their rapid deployment of this advanced service. * FiOS, the fiber-optic wireline service that named “the fastest residential broadband service in the country” has been expanded into consumers’ homes on a global scale. * Strategic Partnerships: Verizon values their partnerships with high esteem and believe they are a fundamental piece of