Verizon Communication Inc. is a major U.S service provider. The company is represented by colors red, black and white, and a symbol of a check that represents the speed of the Verizon network provided to its customers. Verizon describes its self as a company that “help people, business, and things communicate better”. Verizon’s mission statement states, “inspire tomorrow’s creators to use technology to build brighter futures for themselves, families, and the world”. The word Verizon, is derived from the Latin word “veritas” connoting certainty and reliability, and horizon, signifying forward looking and visionary. Amazingly, this corporation has not even existed a decade and is a top U.S business. Verizon has only existed since 2000, and has …show more content…
This transaction was among one of the largest in U.S business history. Bell Atlantic and GTE were major telecommunication companies during the late 1900’s. GTE, which stands for general telephone & electric corporation had revenues in 1999 of more than $25 billion. It serviced approximately 35 million access lines, which are individual landline connections from a customer premises to the telecommunication network. Which differentiated it from Bell Atlantic was its ability to be the U.S leading wireless provider. Bell Atlantic had revenues in 1999 of more than $33 billion. It served 43 million access lines, including 22 million households and more than 2 million business customers (). Bell Atlantic was the world’s largest publisher of directory information. The transaction generated to join Bell Atlantic’s sophisticated network that served its densely-packed, data-intensive customer base with GTE national footprint, advanced data communication capabilities and long distant expertise (). The merge of these two companies in 2000, was valued at more than $52 billion. The fact that both companies were very successful and established has given Verizon an advantage to react to unexpected opportunities and challenges and produced a company that has a set plan to obtain and maintain success as it has over the last 17 …show more content…
To remain #1, Verizon must do what the competitors aren’t doing, or do what they’re doing better. AT&T is the second leading wireless provider. It runs second, only to a shortage of about 10 million in revenue compared to Verizon. AT&T along with the other competitors, T-Mobile and Sprint, oppose a threat to Verizon. To keep up with competition Verizon is investing in superior network to prepare for the technology advances and growing demand. In the year of 2015, Verizon cut the price of their data package and gave $100 credit to anyone who made the switch. Their acquisition of AOL, in June 2015, was another action to keep Verizon ahead of its competitors. The acquisition of AOL was a significant step in building digital and video platforms to drive future growth. The deal is expected to increase Verizon’s aspiration in mobile video and advertising because AOL has developed advanced technology to create web videos and selling ads. This also gives Verizon the chance to move into the video market. This action will give Verizon a competitive advantage over its competitors to remain