Verizon is regarded as one of the most powerful brands in America, having specialized in the mobile services provision for the last seventeen years without bias or conditional circumstances of use. Being one of the best, the company has a cross-section of loyal customers, with its brand name further guarantying a further and more coverage of the company through the available resources. The brand uniqueness of the company has served to increase and attain more clients for the company, this further propelling the enterprise into a success. However, despite the continued success the company has in the United States, there is always a risk of the company being toppled, for example losing the clients in the very competitive environment the company operates, high product variations or the extreme regulation caused by industrial and environmental protection regulations. The above-stated aspects can affect the operation and progress of the company, this, therefore, calling for the enterprise to have a flawless and effective contingency plan, one that circumnavigates all the setbacks to ensure it attains the highest probable level of success.
The communication industry has today been filed with many players, these strategically aligning their products to be unique and distinct from the competitors, an aspect that is meant to give them a competitive edge over other companies. Some major players in the industry like Apple Inc. have succeeded in this, proving a brand that is today respected and desired by many people not only in America but throughout the world. This product or brand specifications and customization may prove to be a hindrance for Verizon’s bid to capture an additional market share ( Kowalewski, Moretti & McGee 2011) . Therefore, realizing this prospect the company has instilled measures to counter all triggers, the company is considering the diversification of its product, this meaning to ensure they retain their customers when one line of operation fails and also preserve them amidst an increased level of competition.
Delegate your assignment to our experts and they will do the rest.
The extreme regulation sets rigid rules and measures which a company must operate within and not compromise. Verizon must consider the many rules which now regulate the operations of companies in the American business industry, these including the environmental, labor and human rights laws. Compliance with all the above regulations determines and sometimes undermine the operations of a business, especially one that has thrived through cheap labor. In this case, the high cost of production act as the trigger, this risking to the closure of the company or the production of more expensive products, some of which may not augur well with the clients, especially the royal customers ( Chen, Macwan & Rupe, 2011) . By realizing these measures are meant to benefit not only the client or the public but also the company, Verizon may initiate a community drive, one meant to push for environmental protection, a move that would place them as forerunners towards an eco-friendly environment and consequently ensuring the increment of their sales and profits.
As noted before, Verizon operates in a very competitive environment, a market whereby then mobile and network providers compete for the available customer. Though this may be an advantage to Verizon, especially in a market where the brand name of importance, the same could be a disadvantage to the corporation’s progress. A competitive environment means other providers offering similar services are present, some of which might offer the same at a reduced cost or its equivalent. This, therefore, calls for a contingency plan by the company; one may involve the amalgamation with the top competitors and adding the operational advantages of the companies together and consequently for the creating of a more efficient corporation with the capability to sway the market ( Verizon Wireless, 2018) .
References
Chen, C. M., Macwan, A., & Rupe, J. (2011). Network disaster recovery [guest editorial]. IEEE Communications Magazine , 49 (1), 26-27.
Kowalewski, S. J., Moretti, L., & McGee, D. (2011). Succession planning: Evidence from'best companies in New York'.
Verizon (2017). 2016 Annual Report: Building a Connected World and a Better Future for Everyone. http://www.verizon.com/about/sites/default/files/annual_reports/2016/index.html
Verizon Wireless, (2018). Verizon Wireless ( Cellco Partnership ). https://www.verizon.com/about/homepage
