I must say.. initially I thought Dan did not have a strategy. But when Board member said he didn't want to get ahead of Dan on strategy it's now obvious.
Dan's strategy is to rebalance expenses and eliminate Han's DEI stink.
How? Appoint Consumer President and Consultants outside of legacy Inept Vz Execs to reset Verizon for aquisition.
There is zero operational/marketing strategies for growrh on purpose.
Buckle up!
There is no strategy, he just told Harvard Business Review that the turnaround is about culture.
Here's his culture:
@BR Schulman board member 2018- present, inability to influence any one, VZ lost 30% marketshare, when did the Schulman get enlighted happen, 32 financial quarters failing adding net adds, and you think something will change, is this the definition of insanity.
This company has always had a too many EMPTY heads problem. Cutting headcount won’t fix that if the remaining heads are all still empty. Even if you have a couple solid leaders in the 7 layers of management we have. Those leaders are given talentless contractors to execute their visions. These contracting agencies don’t have an original idea or the means to execute a stale one. They just fill seats and blame the client when things go sideways. The shake up needs to happen across basically all middle management from Associate Director to VP. There needs to be some flattening mostly to get inept talent out of key roles. The same can be said at band 6 levels in IC roles. There are tons of IC’s that are functionally henchmen for the layers of management above them, working for 3+ different managers pipe dreams at any given time. It’s too many Generals not enough Grunts. From where the sausage gets made these issues are plain as day. There are a ton of people I talk to in person that see all of this. The sign of a dying brand is when the issues are crystal clear to the operators but management is too thick and entrenched for those obvious issues to be addressed. In our case due to too many managers all with their own agenda’s.
I love the ignorance of saying strategy is grow market share. Thats a dream... zero execution other than reduce hedcount and put CMO in timeout so we can stop wasting money on useless commercials.
Look who is running Vz now.. Paypal and Consiltants. Company is getting set for a transformation.
Dan is an activist, not a CEO. Just look at his sordid history, especially when he was at PayPal and what he did there. He was also a mega DACA supporter.
Dan's strategy is simple: cut costs + implement AI as substitute + regain market share. End of the story.
@d2 yep, su-k off the wealth like a vampire.
aka En$#ittification
Caption under a photo in a July 16th WSJ article about Verizon:
"Management has decided Verizon needs a minimum of 1,000 corporate-owned stores for the next three years as part of its long-term strategy, according to an internal memo reviewed by The Wall Street Journal."
@a5 there is none that is why it is a secret. But my suspicion from the start, that Dan will continue laying off and sell portions of the company. the industry is mature with no real growth. they are probably thinking of what is the best way to monetize and unleash shareholder value. it is either they spin off parts of it, or merge with another company, or sell. It is a typical playbook. but either way, the company cannot operate like it is. It is no longer competitive and too big, too hard to change.
CAGR...thats not a strategy... that's a goal since measurable... and yes Associates can read and when you see a Vz truck at Wawa.. buy the Associate inside a Hoogie!
Thanks for showing why we need less Mgmt and more Associates
Strategy is CAGR, do associates know how to read?
maybe dan golfs with mike myers and is getting a proportion of the Austin powers 4 sales...
There is a strategy but there is no intention to share it with employees as there would be widespread dissatisfaction and unease with it. Therefore the leadership including San prefer this vacuum of uncertainty and speculation as the lesser of two evils