Verizon Phone Company is the biggest cellular company in USA. The company earns yearly profit that is above the industry average. Verizon Phone Company's enjoys the largest market share with the with respect to customers. Company was originate in 2004, and with the help of best strategies, company captures the highest market share.
The major reason for the largest share is the strategy of customer retention. According to company's strategy, company does not focus on customer capturing, rather with the help of innovative and technological advance products, company focusing on retaining the customer. As customers are more satisfied with the company, company's market share is automatically increasing with the rapid rate.
Company mainly focuses on change, as the whole industry of cellular company based on this strategy. The major point at which the company can give the edge to other companies in the market is how rapidly company adopts changes. (Piran, 2007)
Problem Facing
The major problem facing by the phone company is the technological change. One thing that will remain constant in this industry and always be the sources of the problem for industry is change. With the technological change, companies like Verizon Phone Company face the problem of technological change. Change in the industry of technology is the core requirement to give the edge to other companies in the industry.
Change Concept
In the phone industry, the major problem company faces are the technological change. These changes would be a competitive advantage for a company if it would take it more positive rather than repulsive over it. One should always be ready for change for the organizational benefits.
Approach
The major edge in the Verizon Phone Company is the constant change. Employees in the company are always ready for positive change. These changes are directly impacting on the company's growth. In order to prepare the employees for change in an organization, the major thing is that leaders of the organization should be strong because it is not an easy task to implement change every time in an organization. It is all depend on the leader ability to implement continuous change in the organization, which is the core requirement of leaders in the organization. The major reason of success for Verizon Phone Company is the managerial skill of their leaders
The major idea for that would directly impact the Verizon Phone Company is the employees' satisfaction. Managers and leader should mainly focus on the employee benefits program in order to motivate them with the continuous change. If employees are not motivated, they will take changes as negative in an organization, and sooner or later the problem of job dissatisfaction will results in job insecurity. (TRAI, 2008)