Verizon sales and marketing communications inc

Category: Organization,
Topics: Market share,
Published: 24.04.2020 | Words: 763 | Views: 506
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Human Resources, Environmentally friendly Development, Ideal Management, Business

Excerpt from Essay:

IV: Achievement Factors and Risks

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A:

Verizon, like any other organization seeking to flourish in an more and more competitive market place has set up financial and strategic priorities which, essentially, guide the companys operational and strategic decisions. To ensure competitive advantage, Verizon makes use of a differentiation technique. It is important to note that this technique comes in handy as the business enterprise seeks to hold the various external forces that may in some way impact its profitability at bay. In adopting this kind of strategy, the organization seems determined to not just defend it is market share yet also enhance its brand image. Verizons selling point in cases like this is top quality as it tries to not simply win clients, but likewise keep the existing ones. It should be noted that the business ensures this kind of generic approach is implemented across most its business units and activities with Verizon Wireless advertising campaigns, for instance, staying seen to largely focus on the companys wireless companies quality. The company, according to Clegg, Schweitzer, and Cut (2016), has also heavily used infrastructure, and continues to take hold of new systems so as to make sure that it continues the superior quality narrative. The companys workers, and especially its customer satisfaction representatives, are well trained with the company, every now and then, implementing teaching programs to increase enhance the proficiency of the staff. To successfully deploy this strategy, Verizon has to, among other things, engage in customer accounting through expense analysis and customer success analysis; and competitor accounting via rival performance evaluation and expense assessment (Clegg, Schweitzer, and Whittle, 2016). For its ownership of this strategy, Verizon handles to demand a premium because of its services. This effectively implies that for the same surface covered by rivals, the company makes more. The better quality from the companys providers also enhances customer royals, with dedicated customers selecting to stick with all the company instead of switching towards the competition.

B:

There are various methods through which Verizon could make profit on non-financial factors. To start with, Verizon could further keep pace with enhance the capacities of its human resources by offering additional schooling particularly in the areas of modify management and technology. The industry in which Verizon runs, as Mountain, Schilling, and Jones (2016) point out, can be prone to continuous changes as businesses seek out better plus more efficient techniques for servicing the needs of their clients. Capacity chance can, in essence, slow down the companys ability to adapt to new market conditions. About this front, the company could also spur creativity in the workforce simply by amongst other things implementing motivating teamwork and stimulating better employee relations. Further, the business could seek to ensure that this further increases employee inspiration by researching its worker compensation procedures. This would enhance employee loyalty and cause a reduction in worker turnover rates.

Technology is likewise another nonfinancial factor that Verizon can seek to monetize on. A report Verizon subsidized four years back came to the conclusion that companies that adopt fresh technologies early enough are likely to have quickly mover positive aspects, in that they can be likely to business lead in not only the technology of revenues, but as well in the additional expansion with their market share (Verizon, 2017). First mover advantages are often difficult to beat, efficiently meaning that by embracing better applications and methods, Verizon would be significantly ahead of the remaining competition. Further, in addition to erecting entry barriers, continuous improvement worldwide of technology could help Verizon revolutionize their operations and become more effective in the delivery of its companies to consumers.

Next, popularity is also of big relevance so far as the companys capitalization in nonfinancial factors is concerned. As time passes, Verizon has become awarded many awards based on its commitment to superior service. Lately, Verizon was ranked the best in wifi network overall performance and quality in the whole of the us in 2017 (Verizon, 2017). The company also has excellent standing as the same opportunity workplace. Recently, it had been awarded a 100% rating on the Impairment Equality Index (DEI) displaying the value of our diverse and inclusive experience for employees, clients and suppliers. Verizon may continue this reputation simply by amongst other things being more visible around the CSR entrance. While the organization already has excellent CSR reputation, it could further develop the same by opting for a specific trigger and contacting it. Areas