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Verizon's Corporate Social Responsibility

1039 Words5 Pages

“Verizon focuses its corporate social responsibility strategy on the customers, with the goal of reaching and achieving high customer satisfaction. Archie Carroll’s theory on corporate social responsibility states that businesses must work to satisfy the interests of stakeholders. Stakeholders are individuals or groups of people that affect and are affected by the business. In this case of Verizon, the stakeholders are invested into the various markets where the company operates. For example, the interests of stakeholders in the wireless telecommunications market are beneficial to the company’s corporate citizenship programs because of the operations of Verizon Wireless. The company’s continued expansion also translates to the corresponding …show more content…

and GTE Corp. Building upon their successful wireless partnership, Bell Atlantic and NYNEX agree to merge their remaining operations. The $23 billion deal forms the “new” Bell Atlantic, one of Verizon’s direct predecessors. In anticipation of its wide-area 4G rollout, Verizon introduces the LTE in Rural America Program to provide customers in smaller markets access to this high-speed network. Verizon Wireless launches the nation’s first wide-area 4G LTE network, setting a new standard for high-speed wireless communication. Initially available in 38 major markets, the 4G LTE network covers more than 110 million people at launch. Ushering in a new era for Verizon Communications, the board of directors names Lowell McAdam president and chief executive officer. McAdam previously served as president and CEO of Verizon Wireless. Verizon's groundbreaking Share Everything Plans forever change the way customers purchase wireless services by providing a single data plan that can be shared among devices. Proving that it's ready to meet the future needs of its customers, Verizon successfully doubles the capacity of fiber-optic cable by using next-generation 200G …show more content…

“Verizon said it earned $3.16 billion, or 52 cents per share, in the quarter. During the same quarter a year ago, the company earned $3.4 billion, or 66 cents per share.” Verizon then went on to state that regardless of the drop in cost of shares they went on to increase revenue to $26.86 billion from $24.1 billion last year, an 11 percent increase. “The company's chief financial officer, John Killian, said during a conference call with analysts and investors that the weak economy, which caused layoffs at many companies, was the main reason for the reduced spending. He also said the company would continue to cut costs in an effort to mitigate the negative effects.” Verizon has cut over 8,000 jobs over the past year in a effort to minimize company

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