Business-Finance-Accounting work

Strategic Choice and Evaluation: Verizon

STR/581

February 26, 2015

Christina Behling

Strategic Choice and Evaluation

The directors of Verizon management are looking to create and develop new strategies for Verizon and needs some ideas to improve the company. The Board of Directors and the strategic planners has asked to maintain several strategies that will help take the company to a new road. Following these strategies recommendations of the best strategy will be selected based on the research and information about Verizon. And to increase company growth and build revenue it is important to determine efficient strategic choices, analysis, and evaluation that help the company create development. Making a good strategic choice can help a company evaluate alternatives in order to realize growth.

New Strategy Options

The directors of the company know that it is necessary to become more profitable and to develop a new strategy to keep the company strong, increase the firm resources, and increase profits. The board management of the company has been selected three options that help them to create success and to be in the right direction.

First 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.

The second option is the Value Discipline Strategy. This value discipline strategy will help the Verizon to providing customer value. Value discipline will reduce the cost, increase productivity and assist in increasing bargaining power with suppliers. This strategy will provide efficient communication services, focus on customers, create consumer revenue growth, and create customer’s satisfaction. This strategy also can increase the services efficiently by pursuing sale of its directory business. One of the value disciplines that will work for this company is operational excellence. Operational excellence can help the company to corporate better by focusing efficient operations. This strategy will help Verizon Company to establish a system to collect input from customer’s points, to create customer’s insights, decisions, and decrease cost where needed. This option can also help the company to make social media, market analytic, and network operation. Operational excellence can create different aspects, such as to attend the information, network activities, leads to lower production cost, and improve the overall organization cost strategy.

Grand Strategy is the third strategy that will provide the board of director’s management the power of leadership a competitive advantage over its competitors. The grand strategy is to help the organization accomplish the long- term goals of the company. 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 grand strategy. Service development is critical to stay stable with the needs of the consumers. By using the Grand- service development strategy 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)

These options will help the directors of the company to achieving the objectives for the company and to creating new opportunities

Recommended Strategy for Verizon

Verizon Communication Inc. should seek to increase its services actively by pursuing sale of its directory business. It is important for the company to continue to create the sale of rural access lines that can help to increase cash for returning value and for a combination of debt. The directors of Verizon should focus innovation to enhance the profitability of the company and also can increase the company chances to face competitors. The company needs to increase customer satisfaction, increase surveys to perceive customer’s decisions. Verizon needs to offers services to support the clients, such as application infrastructure, IT professional services, business continuity services, and create low prices.

The service market strategy assist 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. Thus, it is important to develop programs and to make training for their workforce employees because this can develop programs and educate their employees about new technologies.

My recommendation also to Verizon is to focus on is to increase the amount of stores in rural areas that do not have larger stores to provide more services. 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.

Conclusion

Different business strategies were presented to the board of directors and way of giving some ideas on what corporation can do to have a competitive advantage over competitors in the marketplace. The new business strategy was recommended to the board of directors as the grand – product development strategy. This new business strategy will assist in meeting the new market demand and be ready each time to respond to current and new homebuyers’ wants and needs.

After reviewing the three strategies, the company should focus on one strategy to create an efficient implementation. All strategies will help the company to create promotion and growth, but it is important to focus on one to create success. The strategy that would be efficient for Verizon is that to focus on opening two more distribution centers.

“If a company does not find the solutions of these problems then these problems affect their business very badly and it rotten not only the performance level of its employees, but create bad impression for its name.” (Verizon Communication Inc., 2013)

This new business strategy will assist to respond to client’s wants and needs. In addition, the new strategy will meet the new market demand.

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