Verizon Communication Swot Analysis Essay
A business must analyze their general environment and their industries competitive environment in order for the business to understand their environment. (Dess, Lumpkin, Eisner, & McNamara 2014.) This comes by doing a SWOT Analysis which is a basic technique. By doing a SWOT Analysis, the company can identify its strengths and weaknesses which are the internal forces. The analysis also identifies the external forces which are the opportunities and threats in the industry. Verizon Communications is the company that will be reviewed.
Verizon SWOT Analysis
Strong reputation of network coverage
Brand recognition and Global Goodwill
Largest wireless carrier in the US
High customer …show more content…
External Forces The external forces in a SWOT analysis are the opportunities and threats, they are part of the competitive environment for the industry. Verizon’s biggest threat is the competition. The wireless services have grown so much that there is so much more competition. These competitors seem to have better prices, yet they do not have the level of coverage that Verizon carries.
Verizon is great at seeking out opportunities that arise with all of the technology advancements. Whenever they become aware of upcoming trends for technology they work hard and fast to capitalize on it. With the new technology that comes out every year, customers are able to change cellular devices as soon as new products come out. This has been great for keeping customers satisfied by offering ease of service and product. The company is always looking for and trying new ways to serve their customers. They strive to keep up with the times. Verizon must work to stay