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Verizon communications inc case study
Verizon communications inc case study
Verizon communications inc case study
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The article “Verizon is Creating a Culture That Focuses on Shareholder Value,” that is written by Kinicki and Williams (2013) discusses the company’s [Verizon] desire to bestow their direct attention on culture toward the value of their shareholders (pp. 257-258). Through the importance of employee training guidelines, Verizon’s primary goal in business is to form a structure within the company that will benefit the business in becoming an exemplary industry among their competitors in the world of technology (Kinicki & Williams, 2013).
Plans to accomplish and develop this goal include enlisting individuals who are more than qualified to take on the organizational responsibilities that Verizon has come to expect from their associates.
Each organization big or small has its own values, ways of doing things and assumption that it operates in. The principles and ethics that exist in each of these companies are the baseline through which the company operates its affairs. This is what can be called as that organization’s culture. The culture in existence has an impact on the productivity, effectiveness and efficiency (Keyton, 2011). The basis of setting the most appropriate culture of a company is not only to move or increase the profitability but also to make the stakeholders happy and satisfied. One aspect of that is the employee or the human resource the firm who put their expertise in the firm and add a bit of creativity and innovativeness to move the products. Chick-Fil-A operates in a competitive industry thus it requires all the stakeholders.
The mission that Verizon Wireless pursues is as a leader in communications, Verizon's mission is to enable people and businesses to communicate with each other. We are also committed to providing full and open communication with our customers, employees and investors. That’s just the beginning on their home page. Verizon has other values like customers first because they are ultimately the people that make them. Integrity always at the heart of everything they do. Respect is the critical component at every level of business. Performance Excellent Verizon holds itself to high standard of performance. Accountability holds each other responsible. “Great Companies are judged by what they do, not by what they say” Verizon Wireless
“Culture is not the most important thing. It’s the only thing.” (Gabler, The Magic in the Warehouse, 2016). It has been said that “Costco acts more like a cheerful cult than a hard-driving business.” (Gabler, The Magic in the Warehouse, 2016). Costco hasn’t wavered from their founder’s strategy of promoting within; over 98% of their management started their careers with Costco. This strategy clearly works; the environment is one of family not just coworkers. They are loyal to the brand and motivated to work hard and climb the corporate ladder. Costco sees this as ensuring the future of their values which in turn ensures their
In conclusion, this organization should focus more on their employees and less on profitability. This reasoning comes from the idea that efficient and appreciated employees will dictate the future of an organization through their quality of work and their outlook on the company they work for. Implementing rewards for employees and showing appreciation towards them will make them feel honored to work for such a company. In addition, word of mouth from employees will dictate in the inflow of new or current customers. If employees are treated fairly and respectfully, they are more likely to recommend their place of employment for shoppers. Finally, the implementation of a hybrid culture will benefit the company by meeting the needs of the employer, employees and customers alike.
The leading retailer of prescription drugs, CVS Health, has positioned itself as a growing and sustainable healthcare platform for an aging populace and changing healthcare dynamic. The officers, along with the board of directors have made strategic moves in the past few months and years to better position itself in obtaining a large market share, while providing its shareholders with obtainable growth potential. In the case of CVS Health, I believe that the executives and management team are the largest influencers of the culture and with setting goals for the company and customers.
Verizon hit a spot in the top ten five times throughout six years, and then they became number one on the “Training Top 125” in 2012 (Kinicki & Williams, 2013, p. 257). Even with the flat training budget and a work stoppage, Verizon stayed focused on its commitment to efficient training that is linked with corporates strategic goals that circle the proper training. The three main goals for Verizon for 2011, was going to be the key to culture change for the company’s fulfillment of Leading for Shareholder Value (LSV) (Kinicki & Williams, 2013, p. 257).
To employ our technical and human resources with optimum efficiency, we must ensure that managers are carefully selected, appropriately trained, and work together to achieve our long-range goals.
“Ownership of stock by employees strengthens team spirit. "If they are mutually anxious to make it succeed, the future of the company is
The company's management put a lot of emphasis on taking care of its employees, encouraging an entrepreneurial spirit, treating each other with respect, and being committed
One of the most innovative organizations in the world is Starbucks. From a rollercoaster of performance Starbucks has overcame record losses in 2008 of $6.7 million (Rooney, 2008). Starbucks required a massive overhaul to move from slump to top fifty organizations in the world. In the same year, Howard Schultz, (C.E.O) recognized this organization required significant changes. The changes required had a major impact on the organization’s culture. A huge emphasis was previously placed on the overall yearly profit rather than core values. Unlike any other organization in its class; Starbuck’s core value is focused on rewarding performance and experience. In order to create rewarding experience employees need to be treated like assets rather than replaceable robots.
Values are considered the heart of the organizational culture. They are the driving and organizing the force for the behaviors, in which the individual uses in his assessment of situations and its importance is shown as follows:
In a study of several different companies, it was found that “building the right culture is imperative, but promoting a fun environment isn’t nearly as important as promoting one that champions high-level performance and ethical behavior” (Nohria, Joyce, and Robertson). In great companies everyone works at their highest level and encourage outstanding individual and team behavior. The company can be fun for the employees, but the enjoyment should stem from competing the goals that they set for each other. Setting high standards for employees and offering performance-based bonuses is a good way to establish a strong culture. All companies have some sort of culture whether it's good or bad. When you have disciplined people, you don’t need hierarchy. When you have disciplined thought, you don't need bureaucracy. When you have disciplined action, you don't need excessive controls” (Collins). Most companies have hierarchy that have full control of what their employees can do. Collins describes how if you form a culture of discipline then the good results will follow. For companies to give employees freedom to do what they want, requires them to have discipline and be trusted by their
You would not buy a home, car or other large purchases without researching what product offered you the most for your money. The same is true when investing in a company. Investors do avid research on multiple companies to find what company matches the investors' criteria. In this paper Team C will research both AT&T and Verizon's financial documents. Team C will compare selected ratios, cash flow and make recommendations how both companies can manage cash flow for the future.
*Employees realize their worth in the company, once they realize the benefits of investing in the company.
Corporate culture is the shared values and meanings that members hold in common and that are practiced by an organization’s leaders. Corporate culture is a powerful force that affects individuals in very real ways. In this paper I will explain the concept of corporate culture, apply the concept towards my employer, and analyze the validity of this concept. Research As Sackmann's Iceberg model demonstrates, culture is a series of visible and invisible characteristics that influence the behavior of members of organizations. Organizational and corporate cultures are formal and informal. They can be studied by observation, by listening and interacting with people in the culture, by reading what the company says about its own culture, by understanding career path progressions, and by observing stories about the company. As R. Solomon stated, “Corporate culture is related to ethics through the values and leadership styles that the leaders practice; the company model, the rituals and symbols that organizations value, and the way organizational executives and members communicate among themselves and with stakeholders. As a culture, the corporation defines not only jobs and roles; it also sets goals and establishes what counts as success” (Solomon, 1997, p.138). Corporate values are used to define corporate culture and drive operations found in “strong” corporate cultures. Boeing, Johnson & Johnson, and Bonar Group, the engineering firm I work for, all exemplify “strong” cultures. They all have a shared philosophy, they value the importance of people, they all have heroes that symbolize the success of the company, and they celebrate rituals, which provide opportunities for caring and sharing, for developing a spiri...