Verizon Communication Swot Analysis - 716 Words

SWOT ANALYSIS INTRODUCTION. 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 Strengths Opportunities Strong reputation of network coverage Brand recognition and Global Goodwill Largest wireless carrier in the US High customer†¦show more content†¦Threats Some of the biggest threats for Verizon is their competition. In the telecom industry there are some new growing competitors. (Olsen,2015) Sprint and T-Mobile seems to the fastest growing ones, neither of them have as many locations as Verizon although they are still a threat because they are expanding. Sprint and T-Mobile are both working to provide service at a lesser price and they are probably one of the biggest threats with their major presence across the globe and multiple locations. (Olsen,2015) This means that Verizon must adapt to any new technologies by offering ease of access for our customers. They must also keep up on competitive advantage to remain a leading company in the Telecom industry. Conclusion It is important for companies to perform such things as a SWOT analysis to evaluate their positions with internal and external factors. 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