Organizational Planning: SWOT Analysis for Verizon Wireless Before planning can begin, a framework should be built to guide the decision making process by identifying what the overall goal is to be. At Verizon Wireless, the mission statement, or credo, is broken into 5 sections that are the pathway for leadership within the company, as well as for internal stakeholders, to ensure the success of the company. Verizon Wireless identifies strengths as being a high quality provider of communications services, being committed to customers through teamwork, and acknowledging that just being the biggest is not the same as being the best. By identifying weaknesses such as being reactive to competitor offerings, pricing structure of plans, and the perceived lack of a global presence, reviewing the credo can initiate change to address these weaknesses and create opportunities from them. Identifying the opportunities of network infrastructure growth, simplification of pricing plans for both businesses and consumers, and providing varied equipment pricing options allow the company to address some of the weaknesses.
Threats are identified as competition from other providers, market penetration for services, and proposed regulations from the F.C.C. with regard to net neutrality. As a whole, these identified areas provide the roadmap to achieve success for both the internal and external stakeholders. When setting a long term goal, or strategic plan, the credo is consulted to ensure that the areas identified in the SWOT are being addressed. With a strategic plan in place, Verizon Wireless can set long term goals on how they plan to broaden their strengths, lessen their weaknesses, capitalize on their opportunities and minimize the threats. One of these strategic plans in place is to grow market share by gaining additional customers. Long term growth of customers is fundamental to the longevity of the company. Without new customers the company becomes stale and profits may fall. Both the internal and external stakeholders would be unhappy if Verizon Wireless did not provide a value to them either monetarily or through the service itself.
Review and confirmation of programs being offered to customers is constantly being revised as changes within the marketplace dictate. This long term strategic planning will be fluid as the needs of the customer change. An operational plan has a shorter time line to achieve the goal. The target of initiating new growth through new products and service can be accomplished through the Verizon Wireless Partner Program. The adoption of new technology and integration of devices ensure Verizon Wireless to achieves this goal going forward by partnering with companies to provide equipment and services. According to “Partnerships – Verizon” (n.d.), ” Verizon’s award-winning Partner Program focuses on better serving the needs of customers by enabling them to simplify how they consume communications and IT services in a way that best meets their needs, while giving them access to the full Verizon portfolio.
Whether teaming with Verizon directly, indirectly through program members, or as a hybrid, customers can take advantage of Verizon’s next-generation services portfolio.” (2). These types of partnerships build from the commitment that Verizon Wireless has stated, “We hold ourselves to a very high standard of performance. We prize innovative ideas and the teamwork it takes to make them happen. We never stop asking ourselves how we can make the customer experience better, and every day we find new answers.” (Commitment & Values, n.d.) In this operational plan, the internal stakeholder is satisfied because the company is initiating new growth, and the external stakeholder is satisfied because the new products and services are providing additional revenue. With both strategic and operational plans in place, Verizon Wireless is poised to achieve success in both the near term as well as far into the future.
Verizon Wireless. (n.d.). Commitment & Values. Retrieved 2/28/15 from http://verizonwireless.com/about/commitment-values Verizon Wireless. (n.d.). Partnerships – Verizon. Retrieved 2/28/15, from http://www.verizon.com/about/our-company/partnerships/ (2)