External & Internal Factors: Verizon's strategic planning to deal with these factors

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Verizon Communications, (NYSE:VZ), formed by the merger of Bell Atlantic and GTE, is one of the world's leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with over 137 million access line equivalents and over 34 million wireless customers. Verizon is also the world's largest provider of print and online directory information. A Fortune 10 company with more than 221,000 employees and $67 billion in 2002 revenues, Verizon's global presence extends to over 30 countries in the Americas, Europe, Asia and the Pacific.

As a company of this size, corporate planning is a vital function to deal external and internal factors, in which, the company's goals or objectives are achieved. In addition, a well-defined strategic planning implemented will be the guidelines in dealing with each factor, such as, rapid change, globalization, technology, e-business, innovation, diversity, and ethics. We will break down each factor as how Verizon's business plans set their objectives in being the leader of communications services.

Rapid Change

If there are two issues that characterize the challenges twenty-first century corporations face today, those issues can be summarized as "competition and change." (Dessler, p. 13) Rapid change is a common factor that most corporations needed to prepare itself, in order, to be competitive. That is, Verizon is implementing a restructure of their lines of business. One of their focuses is constantly providing improvement of customer services for their customers, such as a faster internet connection, bundling of services, or offering more flexible phone service (local & long distance) packages. The downturn of this restructure is management position reduction, in which, approximately 200 managers will be losing their jobs due to departmental merger.

Globalization

Research in the solid state technology for the improvement of telephony switching systems made it possible the development of a new kind of electronic device which also helped the rapid evolution of computers. Computers were gradually interconnected through telecommunication lines. Initially they allowed terminals to access the main frame and later they were used to interconnect several computers in the network. In the early nineties these telecommunication networks covered most of the planet with different communication technologies. An era of knowledge had been birth, telecommunication engineering for computer systems. These new systems allowed information to travel at the speed of light. Such information exchange was the bases of a new economic phenomenon called Globalization of the world economy. The new profile will basically require the following,

*To be continuously curious and eager to keep updated with everyday change.

*To learn and adjust fast to new administrative routines.

*To contribute and efficiently work in small teams.

*The perseverance and courage to look for new solutions, for technical and economic improvements.

*To print one' own ideas in a clear and objective way.

Technology:

Verizon Wireless is on the cutting edge of technology. There are several different types of technology such as new DSL lines, dedicated internet access and Integrated T-1 access to name a few. As a growing business you would have a wide variety of choices available to you, in order to build the type of network that you would need to operate in the most efficient way. Verizon also has a variety of services for networks, voice communications, they will also configure, manage and do project management for a business. A lot of customers don't have a sophisticated network department so in order to have a network that functions to its fullest potential these services would be a great benefit especially to a small business. There are also several different types of programs for the disabled with a variety of issues such...
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