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Unformatted text preview: Elizabeth Christy Strategic Management Project June 12 th 2010 Cherrietta Prince Management Capstone Rasmussen Business College Strategic Management Plan Project Vision and Mission Statements On April 30, 2000, Verizon Wireless officially entered the wireless communication market (Verizon Wireless). The company’s roots can be traced to two distinct companies: Bell System and General Telephone & Electronics Corp (GTE) (Verizon Communications). Verizon Communications was formed on July 27, 1998, from a merger of Bell Atlantic Corp. and GTE Corp (Verizon Communications). At the time of the merger, GTE was the leading provider of wireless phone service in the United States with 7.1 million customers and another 6.7 million customers in the international market (Verizon Communications). Bell Atlantic’s Global Wireless service had 7.7 million customers of its own at the time of the merger. In the works for more than two years, this merger had to be approved by stockholders of companies, 27 separate state regulation committees, and the Federal Communications Commission (FCC), as well as needing clearance from the Department of Justice (Verizon Communications). The merger combined the extensive infrastructure of Bell Atlantic with the advanced data communications ability of GTE (“The History of Verizon Communications”). Verizon Communications was created on a scale to compete as a top-level telecommunications company. The business was divided into four separate sectors that included a separate sector for domestic wireless communications and international communications (“The History of Verizon Communications). Verizon Wireless further expanded its network over the next few years. In February 2001, it acquired 20 PCS licenses in six different states from ALLTEL. In December of 2001, it completed two of the largest mergers ever for the company. Verizon Wireless and Price Communications agreed to combine services in a contract valued at $1.7 billion. Also, Verizon Wireless acquired Dobson Communications Corp. ownership of a wireless system in Arizona valued at $85 million (Verizon Wireless). Verizon operates over 1,200 stores and kiosks in the United States alone (Verizon Wireless). Over 40,000 employees work for Verizon Wireless (“Verizon Communications”). The number of customers has increased by nearly 2 million in 2003 to 36 million patrons. Annual revenue from 2002 exceeds $19 billion (“Verizon Communications”). From the company’s inception to the summer of 2003, over $8 billion was invested into the domestic network (“Recent History”). With this investment, Verizon Wireless created the United States’ first national high-speed data network and offered, for the first time, downloadable applications available for cell phones (“Recent History”). Verizon uses Code Division Multiple Access (CDMA) digital network technology and has 140 switching centers located around the United States. In addition, Verizon deployed two-way short messaging service across its network in 2003. In addition to its cellular network, Verizon Wireless has also set up a high-speed data network using 1XRTT technology, calling the nationwide service Express Network (“Recent...
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This note was uploaded on 11/02/2011 for the course ECONOMY G123/EC100 taught by Professor Melissa during the Spring '10 term at Rasmussen College.
- Spring '10