The company was formed with the merger of Bell Atlantic Corp and GTE Corp. At the time of merger GTE Corp had 35 million landlines and 7.1 million wireless customers and Bell Atlantic had 43 million mobile network customers. Verizon is a communication network company involving domestic telecom, domestic wireless, information services and international communication.
Strengths
• Verizon has a great vision of integrated communication solutions to the customers at the place where they are and at any time.
• The Verizon is included in top fifty U.S Companies, being at the maintained position of second ranker.
• Very well established Fiber DSL plant.
• Total Revenue held by the company is $26.4 billion, according to 2010 statistics.
• Covers all major cities of Europe and America and provide a high speed, uninterrupted network.
• A wide range of services are provided including local calls, long distance connections, broadband and wireless connections.
• The company acquires a leading place in printing and publishing the directory.
• Marketing campaigns are very well handled and the brand awareness campaigns are successfully running (Pappalardo, 2003).
• The revenue per share has been $37.66 in 2010.
• Vodafone, the leading telecommunication network owns 45% of the company, which is very strengthening factor, especially in the crisis period.
• The company has very well defined goals and objectives, which includes the cost cutting in per annum expenses as well as increasing sales percentage every year.
• Very well experienced and qualified expertise in different departments.
• Employees are given incentives for their services and bonuses are added as per performance.
• Different broad band packages are provided for gaining the customers attention.
Weaknesses
• Revenue is not incredibly increased and the company has been in debt for long term.
• Company’s profitability has not been more than 4% since 2000.
• Company is lacking its presence in international markets as the marketing and networking policies are only focusing Europe and America.
• Lesser number of customer care centers as compared to other competitors.
Opportunities
• In emerging telecommunication network fastest technologies in UK, Europe and Canada almost 150 million possible customers (Haley, 2002).
• By connecting America and Europe, the dollar and Euro currency advantages the company.
• High speed internet circle is to be worked on a lot more to keep pace with other telecommunication companies.
• Wireless usage is being promoted worldwide.
• The competition is open in which less developed network companies are also consolidating.
Threats
• Network being huge needs to be maintained and regulatory for handling the complaints.
• A there is a tough market competition so brand recognition is the main issue for the company.
• Wireless networking is on its boom.
• Landlines demand is considerably being decreased in the twenty first century era.
• As the network is going on huge day by day, so customer’s records are not completely safe (Thomson, 2010).
• Customer service centers should be in running position with excellent and experienced people out there, which need a heavy cost to be paid at this edge.
References
• Thomson, A. (2010). Verizon Net Beats Estimates as Smartphone Ranks Grow. Bloom Berg Business week.
• Official website. http://www.verizon.com/. Retrieved on March 6, 2011.
• Haley, Colin C. (2002). "Genuity Jilted by Verizon, Mulls Options". Internet.com.
• Pappalardo, Denise (2003). "Changes afoot for Genuity customers". Network World.