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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.
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
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.
“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.
Organization culture is the matter that holds a company intact. This is what makes each company stand out from one another. Organizational culture is also what makes employees want to retain employment with a given employer and have a sense of pride in the work that they do. I believe that AT&T is a company who invests a lot in to their employees. According to the company’s career website, AT&T has been named: "America's Most Admired Telecommunications Company" by Fortune magazine nine out of the last 11 years and "World's Most Admired Telecommunications Company" eight out of the last 10 years.
Accounting policies are essential for adequately understanding the information provided in financial statements. An entity as required by GAAP, should present as an integral part of the financial statement a statement identifying the accounting policies adopted and followed by the reporting entity (Kieso, Weygandt & Warfiled, 2015, p.1391). Accounting policies are the specific accounting methods an organization presently uses and considers most appropriate to present its financial statements fairly. The disclosing of accounting policies must incorporate important conclusions as to the relevance of principles concerning the recognition of revenue and allocation of asset costs to current and future periods (FASB). Identifying accounting policies
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.
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).
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.
Even after 9/11 Southwest Airlines has always been the top airlines in the United States. The reason for their unwavering success is based on the simplistic way they execute common values. After extensively reading their value statement, I’ve come to realize the company’s ambition thrives on motivating and taking care of their employees. Southwest’s values revolve around a warrior spirit, a servant’s heart, and a fun-loving attitude. These values transcend the more original ones from other organizations and ultimately represent more than that. For example, a warrior spirit represent the area where Southwest Airlines provides the tools for employees to better serve their customers. A servant heart implies that one is encouraged to treat each other with respect by showing concern for the customer. Lastly, a fun-loving attitude suggests that employees should have fun at work. Value is a strong concept created to guide or direct individuals behavior towards a desired or favorable outcome. For Southwest Airlines, values are not just about what the company believes, it’s about how it sets the culture. Newly hired employees are tested in the company’s three core values and in reward Southwest Airlines provide a recognition program for all employees who are complimented by customers. These values are mentioned in newsletters, staff meetings by the CEO and at special event. Southwest’s
“Ownership of stock by employees strengthens team spirit. "If they are mutually anxious to make it succeed, the future of the company is
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:
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.
*Employees realize their worth in the company, once they realize the benefits of investing in the company.
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