Transforming Verizon: A Platform for Change
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Recommend and justify a new action that will accelerate change
Lowell McAdam has been the CEO of Verizon and has been performing quite efficiently. Taking up the reins from the previous CEO, McAdam has done quite well and the company has been able to attain profitable results. McAdam is basically considering the transformation of the company from being a traditional telecommunication provider to a global services and technology firm, however, he is concerned about the fact that will his team be able to handle the recent challenges and can adapt to a new culture of being a global provider.
To actually compete in the market and to become effective in terms of adaptable to the new culture, the company needs to take necessary steps. For instance, the recommendation for the company based on more than 194,000 employees worldwide for the company shall be to initially introduce the new business concept in the local market that is the United States.
Since most of the employees of the company work in the US therefore, to bring change, the most efficient method shall be to take up in steps. Once the change initiative is successful at US and the local market, the company can than look to integrate the change management strategies in other markets also. Along with this, employee training programs can also be efficient in order to align the team members towards the change initiative.
Another recommendation to accelerate change and to remain competitive in the market, the organization should look to hire team leaders from local markets. For instance, if the idea of being a global services and technology is launched in any other country, the management should hire tem lead and individuals that are form the local market so that they can further explain the employees about the future prospects and the employees can relate to them in a more organized manner.
Therefore, it can be said that Verizon should look to adapt to the change initiative with a more organized strategy and bring in local individuals to help the decision making more direct and efficient.
Team empowerment is integral for the success of the new strategy at Verizon. The company should look to set priorities and principles in the direction where the results can come in favour of Verizon and its change initiative.