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Business Analysis Introduction Verizon Communications is an international telecommunications company headquartered in New York, United States (US). Previously, it was registered as the ‘Bell Atlantic Corporation’ and has since grown through a number of mergers and acquisitions to emerge as a global leader in providing communications and broadband technologies…
Legal, Social and Economic Environment Given its broad range of products and services, together with the intense competition that is prevalent in the telecommunications industry, Brien (2010) believes that the external environment plays an influential role in determining Verizon’s goals and business strategy. Apart from fulfilling the needs of customers, Verizon is also involved extensively in complying with regulatory requirements besides developing better strategies to tackle its competitors. Winer (2011) analyzed Verizon using an elaborate SWOT analysis and concluded that the company is best placed in terms of marketing as it is an established and recognized brand across the United States and in other countries. However, Bohlander (2009) argues that the company faces multiple threats across legal, social and economic environments. He states that customers have largely refrained from using wireless technologies in favor of long distance services that are offered by local providers. While Verizon has the potential to overcome this trend by expanding its wireless services into newer markets, it will be difficult to offset this threat completely (Winer, 2011). The global financial crisis and the resulting decline in economic activity have had an impact on the telecommunications sector. ...
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