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Verizon Communications Inc. began its new life on June 30, 2000 thanks to a merger
between GTE Corporation and Bell Atlantic Corporation. Verizon does most of its business in
New York; however, they were incorporated in Delaware. Not only do they sell many products
and services but they are also on the New York Stock Exchange (NYSE). Their trading symbol is
VZ and they started on July 3, only three days after they were incorporated. According to
Verizon’s 2007 Annual Report, they had a 6.2% increase in annual dividends (Verizon, Financial
Highlights). Not a bad increase considering they pulled in about $93.5 billion in operating
revenues last year alone (Verizon, Overview).
The services that they offer are residential, business (small, medium, and large), and
wireless. As for residential offerings, they consist of internet, television, phone, and bundles.
Verizon offers High-Speed Internet, FiOS (Fiber Optic) Internet, and Internet Extras. DIRECTV®
and FiOS TV are also supplied from Verizon for a price. As for residential phone service, Verizon
has Local & Long Distance Plans, International Plans, and Calling Features. Bundles, which can
save people a lot of money, are now available through Verizon. Their bundles allow a user to
combine internet, wireless, television, and phone services for one monthly charge. Verizon is
probably best known for their wireless services, which deals with cell phones and internet service.
Again, the business section of Verizon includes services for small, medium, and large
businesses. Verizon offers voice, data and Internet solutions for businesses with up to 20
employees. High Speed Internet, FiOS for Business, Local Calling Plans, Long Distance Service,
DIRECTV®, Wireless Service, and Discount Packages are all the options from Verizon for small
businesses (Verizon, Small Business).
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Voice and data solutions for businesses with 50 to 500 employees, which is a medium sized
business to Verizon, are available through Verizon. Data, IP, and Long Distance can be supplied
to medium sized businesses. In Addition, Centrex, which is, according to Verizon, “central office-
based, full-featured, voice communications systems and services that can grow as your business
grows” (Verizon, Medium Business). Equipment and network support is also available through
Verizon’s website through the following providers: ADTRAN, Alcatel-Lucent, Cisco, and Nortel.
Through the Verizon website, medium sized businesses can look at solutions that Verizon has been
able to offer to many different industries. In addition, case studies can be obtained through
Verizon.com. Finally, a medium sized company can request a free consultation with Verizon.
Products & Services for large sized businesses include VoIP, Data and IP Services, Internet
Access, Security, IT Solutions and Hosting, Managed Networks, Premises Equipment (CPE),
Contact Centers, Conferencing, and Voice (Verizon, Business). The different segments of large
companies that Verizon serves are Education, Channel Partners & VARS, Wholesale, and
Government. Solutions included in Verizon’s offerings are Application and Performance
Management, Collaboration, Mobility, and Business Continuity. Some resources that Verizon
presents its large companies are a Resource Library and Global Capabilities section. Now that an
overview of Verizon’s history and services has been explained, the competitive environment of
Verizon will be looked into.
Verizon, like all other companies, has to keep up with the Joneses so to speak but there are
always going to be those companies that are in first place in certain areas of business. As reported
in a news release on Verizon.com, “Verizon Stands Out With a Consolidated Set of Online
Functions, Study by Customer Respect Group Says” (Verizon, News Release). Verizon’s My
Account and Self-Help web sites were rated number 1 and the fact that those are customer used
4. 4
sites says a lot about Verizon. Responding to the demands of many enterprises, Verizon has,
“assembled an array of assets that can enable those customers – and their customers – to conduct
business better and faster” (Verizon, Press Kits). Some more things that Verizon does to set
themselves apart from the competition include offering small businesses choice, reliability, value
and a collaboration for growth.
Verizon’s competitors include Qwest, Sprint Nextel and AT&T. Qwest, like Verizon,
offers residential, small, and large business products and services. They offer the same type of
services at Verizon such as Bundles, Cell Phone, and TV Services. Sprint Nextel, also like
Verizon, offer a wide array of similar products and services. Mobile broadband cards, cell phones,
and accessories are some of the things that Sprint Nextel offers its customers. The one thing that
Verizon, Qwest and AT&T offer that Sprint did not offer, as far as I could tell, was actual in-home
TV service. However, they do offer it on their cell phones. AT&T offers residential, small and
large business, enterprise, and wireless services. Residential includes Wireless, Internet, Advanced
TV, Home Phone, and Bundles. Small businesses can receive from AT&T: Bundles, Internet,
Local, Long Distance, and Additional Services. Enterprises are divided into Business, Wholesale
and Government for different services.
Finally, there is all this technology out in the world but what really matters to a company is
when and how it is used, and by who. One thing that Verizon does with its technology to gain a
competitive advantage is that Verizon keeps its fiber-optic connection secure. By doing this, for
example, Verizon helps healthcare employees take care of patients more efficiently because much
of their work is communicated over a network. According to Verizon, “A secure fiber-optic
network created and maintained by Verizon Business helps nurses like Jojo Rapipong make a
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difference.” (Verizon, Service and Innovation) By teaming up with their customers to help them
understand how to do different things to help their business, Verizon is promoting growth in the
community.
Verizon looks to diversify what they have to offer to stay atop what is growing everyday
and becoming more competitive then ever before. Verizon seems to know what they are doing and
are doing it right. Verizon has many awards under their belt and continues to prove that customers
are the most important aspect of their company. They know that technology is constantly changing
and are always making plans and goals to focus on to change with the times and hope to come out
ahead.
Articles
http://www.networkworld.com/news/2008/041408-verizon-metro-ethernet.html
http://www.lightreading.com/document.asp?doc_id=151373
