Problem Solution: Global Communications Corporation
Global Communications has faced problems in the past, and they are facing more problems now. Still, Global Communications has been a profitable company and it can be profitable again. Through researching other companies and using the principals of generic benchmarking illustrating changes that have been successful for other companies, it will be shown the steps that Global can and will take to bring them into a new era of success.
Situation Background (Step 1)
Until recently Global Communications had always been a successful leader in the telecom industry. Because of Global Communications position as a telecom giant in the telecom market they have always been one of the highest paying telecom companies in the industry. Global has prided itself on the ability to provide only the best, for only the best employees. With outstanding pay and unheard of retention rates even the telecom union has rarely ever taken issue with the Global Corporation.
3 years ago the market started to thin for Global Communications. As the Internet industry started to boom, the Telecommunications Act of 1996 went into effect. The 1996 Act opened the playing field of telecommunications to a wider range of companies by removing many of the restrictions that existed. Many of the government imposed anti-competition regulations were removed and allowed for any company to enter the telecom market. (FCC, 2004)
The 1996 Act was supposed to open the market and help push competition of the services of cable, broadcast, broadband, phone, VoIP (Voice over Internet Protocol), and other such telecom services. Because of how fast the internet was growing, it was assumed that the few te ...