Verizon’s already existing LTE (Long Term Evolution) Innovation Center has greatly benefited Verizon in many ways. It has spurred development for products, services and solutions. These include, but are not limited to, home monitoring and control, health care, visual collaboration, and gaming. The AIC will follow a similar collaborative model in the respect that companies will spend time creating, optimizing, and polishing their ideas, eventually turning them into applications for wireless customers. Verizon Wireless partners will now be connected to developers for a collaborative approach at innovation (Fine).
For a company like Verizon having the reputation of fastest and most advanced 4G network and largest most reliable 3G network, innovation is very important. Verizon’s goal is to apply the power of their technology to the challenges faced by society by improving to be the best it can be, while also stressing the safety of its users. In Verizon’s words, they say that, “Our networks play a central role in energizing the marketplace, stimulating innovation and improving the quality of life for our customers. (Verizon)” In order to continue to meet their goals, Verizon is at a constant need for new ideas, but not just any ideas, the best ideas. The AIC is the next step for Verizon’s innovation for new technologies that meet these goals.
Innovation is an important aspect of any company. New ideas are what fuel them to survive in a competitive world and without innovation, a company will not keep up with technology and thus slowly but surely fade away. Verizon takes great pride in its expertise with technology and its ability to collaborate the ideas of all its developers to create the best applications possible. And how can it be argued? Verizon is the leading network in the nation and continues to be following this strategy. The most important aspect is that this shows their care for their customers. For example, Verizon has developed products specific to the needs of people with disabilities. They also show a great deal of care for their employees, providing over $3.8 billion in health care benefits for over 830,000 employees. All of this is possible because Verizon is so advanced in its field. Is this the way all companies should go about innovation? Perhaps not exactly, but it’s certainly a good place to start. Having specific innovation groups will certainly spur growth and improvement.
Works Cited
Fine, Richard. "Verizon Wireless to Open Application Innovation Center In... -- BASKING RIDGE, N.J., and SAN FRANCISCO, March 21, 2011 /PRNewswire/." PR Newswire: Press Release Distribution, Targeting, Monitoring and Marketing. 21 Mar. 2011. Web. 22 Mar. 2011.
"Verizon | Corporate Responsibility | Results | Innovation." Verizon | Corporate Responsibility | Doing the Work. Web. 22 Mar. 2011.
As with any company in such a competitive and fast changing industry, those who have the competitive edge in innovation will surely win out in the end. With the recent moves of the IPhone and more importantly the buy-out of T-Mobile, there will need to be new and better ideas out there. Verizon’s idea of the AIC is the way to do it. We have all at some point or another been told that you need to give a little to get a little. As the article states, “The goal of the AIC is to engage developers, pro-actively share Verizon Wireless' technical and marketing experience and expertise, and ultimately bring truly innovative applications and services to all of Verizon's customers.” This will surely produce some of the innovative ideas that Verizon will be looking for. I hope that more companies such as Verizon begin to take this approach and if they do, the possibilities could be limitless.
ReplyDeleteI agree with Dilshan. In today's business world, it is extremely important for companies to constantly innovate and take advantage of all of the opportunities that technology offers. An Application Innovation Center is a great idea for Verizon, especially in the Silicon Valley. Location is key, and it is a good idea to be surrounded by other technologically advanced companies, in order to obtain new information and ideas as quickly as possible and to just simply be around people who are passionate about technology. I think it's a good move for Verizon because they need to stay up-to-date with their competitors. Apple is obviously the major competition in the computer and technology industry today. Verizon needs to innovate in order to maintain their reputation and grow as a company. An AIC will allow them to keep up with the competition and come out with new applications or ideas that will make their customers happy and keep Verizon in one of the number one spots of technology.
ReplyDeleteAll companies can choose their own ways to go about innovation. Companies like Apple have most likely already implemented AICs. I think that businesses will need to have specific centers to be in control of innovation, so they are sure that people are completely devoted and focused on technological advancements that will satisfy customers.