Business-Finance-Accounting work

Implementation, Strategic Controls, and Contingency Plans: Verizon

Qassam Alshaikh

STR/581

March 7, 2015

Christina Behling

Implementation Plan

Based on the operating income, Verizon Company considers the most profitable wireless and communication that provides benefits in the United States. Their mission is to continue to implement the key factors of their strong business strategy of global differentiation.

A differentiation strategy can create a service or product that is identified and perceived as being unique in the industry. This strategy can create a strong distributor network for other aspects, new technology, and provide services. In addition, the conditions that should involve to support a differentiation strategy include effective product engineering, strong marketing abilities, and the ability to perform basic research and a good reputation. This strategy relates to Michael Porter's book - Competitive Advantage.

Differentiation strategy is the strategy that will help the company to create efficient implementation plan. The company is providing a high-quality service that is designed to meet the growing needs of the customers. The company’s strategy share entails a global dimensions as it is a joint venture of Verizon communications covering a population of 260 million within the United States, and Vodafone Group, which is the largest mobile telecommunications network company in the world. Verizon continues to fulfill all of the company’s promises and is proud of the growing expansion within the wireless industry. The following objectives explain how Verizon Wireless can build on their business strategy to provide superior service. In order to be able to differentiate their service from other competitors.

Verizon Wireless tries to accomplish these objectives:

· Efficient distribution that involve organizational sales, full services, and distribution channels.

· Provide the highest network quality through CDMA (Code division multiple access) technology.

· Improve data transmission rates through EV-DO (evolution data optimized technology.

· Continue to expand the wireless data, messaging, and multi-media offerings for both customer and business segments.

· Focus on efficiency and satisfaction rates in customer’s services, distribution, and product development divisions.

The Generic strategy will allow the management to have a competitive advantage over its competitors and also will help the company to increase the generic. Differentiation strategy is an option for Verizon to develop the company’s services so that it can offer and provide value, quality, and new services to its customers. Differentiation considers a key and a unique achievement in the market because it will keep the company gain advantages over others communication firms, create the right information, and to be strong to achieve the competition. This strategy can help Verizon to reach customers and provide them support and assistance.

Functional Tactics

The functional tactics consider the procedures that help the company to take place and to help start the plan process. The buyer power that used by Verizon is very high and Verizon is seeking to reduce the buyer power by making a competitive advantages that will attract many customers to thank innovation of their services, and the quality of their features like GPS system. Also Version will take the action to improve their customer services and provide a high network quality through new technology like EV-DO that improves data transmission rates and crates a competitive advantages in this buyer power industry.

Action Items, Tasks, Development, Milestones

Verizon will seek to provide different services of wireless devices and telephone to increase their clients. These services involve different offers, such as sizes, colors, and new system of telephones. These devices can increase wide range of targeted users and will create high satisfaction.

Verizon will determine to create efficient distribution through offering sales and full services. The company can use these distribution actions:

· Distribute the services or products to the retailer’s.

· Using self-services retail methods of distribution

· Using direct sales that involve the house sales, Internet, and Facebook.

· Using all distribution channels to facilitate the advertising.

Another action plan will be developing innovation. The technology help people to use labtops and paid wireless network services of free communication.Verizon made skype programs that can be used through the world by providing the advantages features, a visula image, and no cost telecommunication serivce. Due of competions, Verizn decided to make charges fees and create contract to lower the threat of subsitute services or products and to prevent losing clients to another competion. Verizon implement the action plan by reducing the prices to satisfy customers. The reduction of pricing can help the company to face the competition.

To create succesful results, the company must create efficient tasks. The company leadership seeks always to create success. The company has been rewarded for creating their mission to be efficient and powerful. These tasks involve:

· The leadership promote customers satisfaction

· Consider the top for diversity.

· Leader in loyalty

· Training the staff

Also the e-commerce allows Verizon to create the relationship with millions of their consumers, customers, and companies from all over the world. The technology allow the company to gain benefits.

Marketing task:

To create Differentiation strategy, a company must promote efficient marketing task. The efficient distribution channels can create financial stability, utilization, and the effectiveness of services. For example, advertising channels can create relationships demonstrate the benefits of the offering, support capabilities, and make relationship with distributors and can help to make appropriate prices due of competition.

Verizon determines to deal with the market research and marketing needs. Verizon strives to develop the technologies and concerns of development. Most of its services are offered in the smaller rural markets and most customers agree that its new technologies apply their needs, such as CDMA network, all-digital nationwide, and VoIP that relate to voice over internet protocol. Verizon seeks to keep market efficient by downloading software into clients’ computers that customer may not know about it.

This strategy will help the company to focus on service development and also to create the competitive position through concentrated growth of the company that supports the strategy. Service development is critical to stay stable with the needs of the consumers. By using the development, the owners can help the company to be able to focus its attention on developing a process and having a competitive edge over its competitors. Innovation is very necessary specially, when they go through transition period and modify their business strategies. In that way, they found a high level of competitive advantage can increase the expectation level of their customers and find ultimate existence.

“The network architecture provides the company with the flexibility to adapt its facilities more easily to future product development. “ (Verizon Wireless Interactive Timeline, 2014)

Milestones for The Verizon will involve obtaining financing, building the facility, setting up a corporation, support training, opening the facility, and leasing the equipment. In order to do profitable and dependable tasks, it must always look for new types of innovation that can help to make differentiation strategy and face the competitors. Different needs for training and expands wireless networks can make Verizon create more changes.

Organizational Change Management Strategies

To implement this strategy the company needs to look at an organizational change management strategy. The company to develop services that will achieve the needs of the consumers and make them satisfied. Verizon needs to use different methods to increase their business circle, such as change the process of their business, must keep modernizing their products and services to use new ways of technology, and to provide best customer services to their clients. Through the external and internal environment of Verizon, we noticed that the company faced difficulties in innovation and technologies and also Verizon faced a huge level of threats in the sector of innovations. These changes can help managers to observe customers more confident and satisfied and also the services will be easier for managers and employees.

It is important to develop programs and to make training for their workforce employees because this can develop programs, face hard completions, and provide experiences to employees about new technologies.

These distribution strategies can also increase the amount of inventory and to provide connection and services to each house or store more quickly. Verizon investments would be efficient and can create effective long-term goals for the company.

Financial Control

Pricing

It is important to implement financial plan that help Verizon to make a comparable pricing strategy. Verizon is not the only market leader in the market so it important to create a price expectation. Leaders have to create a price expectation in the minds of the marketplace. Thus, the company can offer comparable of their competitors. The leaders can create rapid market penetration for eventual market control and critical income by decreasing prices to be low.

The Budget

The budget is very important to manage the project and to create changes in the company. The budget can facilitate the action items and help to achieve commotions strategy. The company needs the budget to promote the operations efficiently by providing sessions, new locations, and create new connection with customers.

Verizon should focus on budget operations that will running the business and getting the new facilities open. In order to meet the needs of the budget, the operations managers will need to manage the budget, such as distributions, advertising, new locations, new innovation, and employees’ raining. These operations can help Verizon to create success and efficient differentiation strategy.

According to the researches, Verizon raised $49 billion in debt to help pay for Vodafone's 45%. Verizon also closed the acquisition in 2014 for $130 billion. The cash flow from operations fell 21%.

The budget involve:

· Revenue $21.5b in 2013

· Revenue of the company is $31.5billion in 2014

· 32.5 Million for customers services

· Spent 12 billion in 2013 to build out fiber plant (DSL)

A detailed budget provided help Verizon strives to find resources to add benefits and revenues. The budget can build control innovation in its networks.

Conclusion

After defining the strategy, the company must use these information that gathered to ensure that this strategy will achieve the objectives of making competitive in the market. The strategy is a guidance for the directors to make market growth and a final decision for achieving the goals and increase the company success.

References

Verizon Wireless interactive Timeline. (2014). Available from EBSCO Host. (No. 100453685)  p1-10. 10p –University Library EBSCO Host

http://web.b.ebscohost.com.contentproxy.phoenix.edu/ehost/pdfviewer/pdfviewer?vid=7&sid=1e6b6136-d81a-4d9d-9a3a-bcc828f1e485%40sessionmgr111&hid=102