STR 581 Week 2 Organization’s Innovation Strategy,
“Verizon Wireless is an innovative wireless communications company that connects people and businesses with the most advanced wireless technology and service available” (verizonwireless.com). Verizon wireless is owned by Verizon communications and is headquartered in Basking Ridge, NJ. Verizon wireless is the nation’s largest wireless company. Verizon currently serves about 123.4 million customers and have more than 1,700 retail locations nationwide. They were the first wireless company to bring 3G wireless broadband network to the States. The nation’s largest and most reliable 4G LTE network is operated by Verizon wireless.
With the 4G LTE, customers can access fast internet and stream media faster than before. Now, Verizon has expanded to a new technology called XLTE. This new technology offers doubling speed and capacity over 4G LTE and still using the same Advance Wireless Services (AWS) spectrum. Now customers who live in the most congested areas for wireless and data traffic can access internet, download videos and send multimedia messages without experiencing delay or reduced speed, even during times of peak usage. In this paper, we will discuss how this innovative service from Verizon will keep them in the competitive advantage in the wireless industry.
Strategy of innovation
Verizon’s creation of XLTE is part of its corporate innovation strategy. “Corporate innovation strategies include product innovation, process innovation, marketing innovation and management innovation; such as creating new products, new services, new production methods (production/technology innovation), new markets, new supply sources and new organization approaches, and so on” (Johannessen, Olsen & Lumpkin, 2001). Verizon’s XLTE is a
technology innovation that provides a new service that surpasses the current 4G LTE technology, which was the fastest data service available.
As stated, Verizon has the largest, fastest