Despite the fact that Verizon is the largest provider of local and wireless telecommunications service in the United States and the world’s largest directory publisher, the company is relatively young in comparison with its competitors. Created on June 30, 2000 through the mergers of Bell Atlantic Corporation and GTE Corporation, Verizon is a modern organization that has taken advantage of marked changes in government regulation of the telecommunication industry. According to the company’s website, in 1996, the federal government signed the Telecommunications Act which served as the basis to shift the industry toward a market based economy. This shift promulgated the merger of Bell Atlantic and GTE and has literally revolutionized the way in which companies in the telecommunications industry compete for business.
At the time of the merger, both GTE and Bell Atlantic were among the most notable companies in the telecommunications business. The merger, which is noted to be the largest in the industry to date, was a significant undertaking that required more than two years to complete. The goal of the merger was to combine Bell Atlantic’s international recognition with the technology and innovation of GTE. The end result was the formation of Verizon, which takes its name from the Latin world veritas meaning certainty and reliability.
Mission of the OrganizationWith the realization that Verizon is a unique twenty-first century organization, instead of developing a mission statement to guide the organization, Verizon took this process one step further and developed a Code of Business Conduct that is predicated upon the simple idea of connecting through integrity. Although the Code of Business is a complex document, its central focus is to elucidate the organization’s core purpose and goals. The Code supports the core purpose of the organization by noting, “We bring the benefits of communication to everybody.” To achieve these goals, the organization focuses on the following core values: integrity, respect, imagination, and passion.Paper Masters