Verizon Code Of Ethics
I chose to use the company AT&T because my wife is an employee of this remarkable company. When I researched the company and their code of ethics, I found the following information:
Encourage honest and ethical conduct, including fair dealing and the ethical handling of conflicts of interest;
Encourage full, fair, accurate, timely and understandable disclosure;
Encourage compliance with applicable laws and governmental rules and regulations;
Ensure the protection of the Company 's legitimate business interests, including corporate opportunities, assets and confidential information; and deter wrongdoing. (Corporate Governance, 2014) I chose two other companies similar to AT&T. Those companies are:
1. Verizon Wireless …show more content…
2. T-Mobile
Verizon Wireless ethics state the following: “It is imperative that we conduct business responsibly and ethically, maintaining our reputation for trust and responsibility wherever we operate.” (Ethics and Governance, 2013) When researching T-Mobile, I found out that they are mentioned as one of the top ethical companies for 2014. Here is why:
”Our actions are guided by a strong set of Values, which coupled with our commitment to creating a diverse, open work environment, form the bedrock of T-Mobile. We do not compromise on these basic principles. Our dedication to setting a high ethical standard is something we’ve been recognized for nationally and is something we are respected for in the community.” This was spoken by the CEO of the company. Reviews of the company back up their spoken ethics. (T-Mobile’s Code of Conduct, 2014) AT&T is basically a wireless and wireline company who provides communication services to consumers. When I researched the ethical code for AT&T, I found the following 3 items that were critical when it comes to success in a company:
1. The first critical point is being in compliance with applicable laws. I think for any company it is very important to be in compliance with any federal or state laws because if not, they are not considered as a reputable company. If not in compliant with the law, they will start to lose profits, because they are going to start paying more money in fines and lawsuits.
2. The second critical point is disclosing everything accurately and timely. Telecommunications companies need to ensure to disclose all information necessary, so that the consumer can understand and comprehend. If the consumer does not understand, then the business profitability will decrease.
3. The last critical point for success would be ensuring that the company encourages honest and ethical conduct. This is a critical point for success because if your company is not honest, your consumers will not have faith in your company. If they do not have faith in your company, they will not stay at your company. When it comes to the comparison between Verizon Wireless and T-Mobile, they actually have the same goals. However, based off of reviews and research, T-Mobile actually was rated one of the top ethical companies in the United States because they strive to ensure that their employees practice ethical policies and procedures by staying in the loop with the ethics hotline. When it comes to T-Mobile, they actually provide a hotline that allows anyone to reach out and report anything nonethical that is going on. When it comes to AT&T and Verizon Wireless, their principles are pretty much the same. Their procedures and principles are the same because the companies are so much in competition with each other that they actually compete when it comes to ethical procedures. Here is the breakdown of Verizon Wireless and T-Mobile’s code of ethics compared to AT&T:
Verizon Wireless: “Our commitment to operate a responsible and ethical business starts with the Verizon Credo.
“We believe integrity is at the core of who we are,” is a principal tenet in our Credo. We know that to succeed in today’s global market, our brand must stand for integrity, trust and the highest ethical standards. We live up to these ideals through a comprehensive ethics and compliance program that is built on our Verizon Code of Conduct, ongoing educational communications and mandatory training requirements, and readily accessible tools through which all employees are encouraged to raise questions, report concerns and get information about ethics, policies, procedures and applicable laws. We have implemented a robust lineup of resources to operationalize our commitment, including:
1. The VZ Ethics and EEO GuideLine, which is available 24 hours-a-day at 800-856-1885 (U.S.), (+) 800-0-624-0007 (International) or online at www.verizonguideline.com and the Verizon Wireless Compliance Guideline available 24 hours-a-day at 800-488-7900 or online at www.verizonwirelessguideline.com.
2. A Security Control Center operated by Verizon’s Security organization, which employees can reach 24-hours a day (800-997-3287) to report or inquire about issues ranging from international cyber-security to legal compliance.
3. A reporting/inquiry channel for accounting matters managed by the Verizon Internal Audit group at
accountingcomplaints@verizon.com.
4. Environmental and Safety Hotlines for reporting emergencies, arranging for waste disposal or getting on-site help from the company’s environmental and safety specialists (Wireline, including international, 800-386-9639 and Wireless, 800-488-7900).
5. Protecting privacy is one of our highest priorities. We require all management employees to complete on-line training that reviews how to safeguard privacy and Verizon confidential and sensitive information.
6. We also maintain a zero tolerance policy for unethical business practices such as bribery. Verizon instructs employees to avoid even the appearance of improper influence. Anti-corruption training has been implemented to provide guidance and practical examples to help employees understand and comply with various anti-bribery laws, including the UK Bribery Act and the US Foreign Corrupt Practices Act.” (Ethics and Governance, 2013)
T-Mobile:
(T-Mobile’s Code of Conduct, 2014) In the world of technology, these goals tend to be repetitive, however all of the companies are slightly different when it comes to their integrity and goals. When it comes to the extent of each goal that each company uses, I have provided a clear breakdown of both:
For Verizon Wireless:
The 2 key issues that I chose for Verizon Wireless was the following:
1. A Security Control Center operated by Verizon’s Security organization, which employees can reach 24-hours a day (800-997-3287) to report or inquire about issues ranging from international cyber-security to legal compliance.
2. Protecting privacy is one of our highest priorities. We require all management employees to complete on-line training that reviews how to safeguard privacy and Verizon confidential and sensitive information. (Ethics and Governance, 2013) I chose these two issues as these are one of the most popular issues to choose when it comes to corporate responsibilities and remaining ethical. When it comes to the positive results of both of the above practices, the company will continue to have a large consumer base, remain within the competition race, and continue to rake in profits from their consumers. Basically, it boils down to this: If the company does not have any type of ethical behavior to present, they might as well close down, because they will not have any customers. Another adverse attack on not having these principles in place would be a lot of legal matters. A company that does not protect privacy, will go out of business really fast. The company would have so many lawsuits, that they would go bankrupt. For example, a couple of years ago, I was watching CNN and saw that Verizon Wireless customers were being monitored by the government. Conversations were being heard, was the summary of the story. Basically the government was stating, “If you are not doing anything illegal, then you will not have anything to worry about.” Many customers were upset, because they felt that this was a breach of their contract. Verizon Wireless lost 10% of their customers due to this uproar. Even though Verizon Wireless lost some of their revenue due to this issue, it was not on Verizon Wireless as they were being responsible and abiding by the documents provided to them from the government for this issue. When it comes to T-Mobile, I used the following 2 issues:
1. “I act ethically and obey the law.”
2. “I act honestly and openly.” (T-Mobile’s Code of Conduct, 2014) When it comes to these issues, T-Mobile holds their employees responsible for the ethical laws for their company. Every employee has to abide by each of these laws. When it comes to the positive side of the two concerns addressed above, T-Mobile will always have revenue and consumers, because they are making all of their employees responsible of abiding by policies and practices within the company. If there were no laws such as these, T-Mobile will lose business and no longer have the best customer service within the group of wireless competition. Going back to my original company, AT&T, I would like to propose 2 techniques that they could follow to ensure that the code of conduct remains relevant throughout all business changes. The first technique AT&T could use would be, to ensure they communicate with their employees on all levels when it comes to integrity and ethics. Even though employees take the code of conduct trainings in the beginning of being hired with the company, the code of conduct still needs to be enforced as a continuous training every 6 months. This way the employee stays in the loop with any changes within the company’s policy. This would be very effective, because the employee will become more knowledgeable about the company and how AT&T presents themselves. The second technique would be to promote living the corporate values. This simply means to do the right thing in everything you do. We are not perfect, however most mistakes that we make are because we caused it or made it complicated. When you live by corporate values on the daily basis, it can make your life easier and also make your work life easier because you are doing the right thing by yourself, customers, and other employees. AT&T is on the move when it comes to embracing technological change. They took the following approaches to embrace change for the company:
1. Double bandwidth- AT&T doubled the bandwidth within their network to avoid a lot of congestion for their consumers. Doubling the bandwidth allows you to access your data at better speeds as well as enhance the call quality.
2. Lower pricing plans for suit customer’s needs- To promote smartphones and data products, (and to also make life simpler) AT&T lowered their calling plans to suit the consumers’ needs and wants. They started offering “4 Smartphones at $160.00” which gives the customer 10 Gigabytes of data. This is reasonable for 4 smartphones because as we all know, AT&T is expensive in price. This allows the consumer to choose that new smartphone they want without the hassle of increasing their bill. In every positive aspect of technology, there are always challenges that are faced. AT&T could face the following 3 challenges when it comes to the changes in technology:
1. Competition is now shifting to other companies. AT&T and Verizon Wireless have been the two main rivals, since the turn of the century. However, these two companies may start to shift a little as T-Mobile, Sprint, and other carriers start to rise.
2. Being able to support trending issues and resolve them efficiently. As more and more people turn to new smartphones and new data products, they are going to need efficient support for trending issues with their devices. AT&T will have to step their game up in ensuring that the customer’s needs are addressed on the first call to promote customer satisfaction.
3. Promote Awesome Customer Service. This basically is self-explanatory. I have heard so many issues and people talking negatively about AT&T lately. This would have to change if AT&T plans to stay on top with their revenue on the new technology changes. If there is no customer satisfaction, there is going to be an issue with their profits and consumer base. Over the next 5 years, if AT&T does not change, they will suffer a decrease in profits over the next 5 years. To minimize some of the challenges that AT&T may face in the future, the company should prepare their employees now. To ensure that customer satisfaction is excellent, constantly review the feedback from the customer. AT&T does have surveys that come in the form of a text message after your calls. AT&T needs to ensure they address each survey and review what could have changed within the call to ensure customer satisfaction. AT&T also needs to ensure that these surveys are given to all departments, including U-Verse and also high speed internet departments, because if the customer is angry at his U-Verse service and he is routed to customer service for his cell phone, he will rate the company negatively because the survey comes to wireless customers only for their wireless service. AT&T boosted their lobbying spending by 30% to acquire T-Mobile in a business deal. As we all know, AT&T tried to acquire T-Mobile to increase their revenue and consumer base. “AT&T 's lobbying strategy has been guided by 13-year company veteran Jim Cicconi, a Washington insider since serving in the Reagan White House. It produced letters to regulators from more than 70 members of Congress, multiple economic studies aimed at supporting the deal, and a pledge to preserve 5,000 jobs. Yet the Justice Department on Wednesday sued to halt the $39 billion deal, calling it harmful to competition.” (Shields, 2011) In this case, lobbying was not appropriate. When it comes to global corporate sponsorship, AT&T has devoted a lot of time to ensure that they incorporate the company in a lot of sponsorships within the community: “The Civic 50 identifies and recognizes companies for their commitment to improving the quality of life in the communities where they do business. AT&T was recognized as the Number 1 most community-minded company in the communications category in 2013, and earned the number three spot in this inaugural list of America’s most community-minded companies in 2012.” (FAQ’s, Governance, and Policies, 2014) “In 2014, more than 4,000 AT&T employees received the Presidential Volunteer Service Award, the highest award recognizing employee volunteerism. A record number of employees volunteered more than 100 hours in 2013! We are proud of our employees’ commitment to service.” (FAQ’s, Governance, and Policies, 2014) In conclusion, AT&T is a very good company as they try to balance their challenges and positives as much as they can to ensure they remain ethical and also responsible as a corporation.
References
1. “Corporate Governance.” (2014) Retrieved from: http://www.att.com/gen/investor- relations?pid=5595
2. “Ethics and Governance.” (2013) Retrieved from: http://responsibility.verizon.com/ethics-and-governance/2013
3. “FAQ’s, Governance, and Policies.” (2014) Retrieved from: http://about.att.com/content/csr/home/frequently-requested-info/external- recognition.html
4. Shields, Todd. “AT&T spent 30% more on lobbying for T-Mobile deal” (2011) Retrieved from: http://usatoday30.usatoday.com/money/news/telecom/story/2011-09- 01/ATampT-spent-30-more-on-lobbying-for-T-Mobile-deal/50231132/1
5. “T-Mobile’s Code of Conduct.” (2014) Retrieved from:
http://www.t-mobile.com/Cms/Files/Published/0000BDF20016F5DD010312E2BDE4AE9B/0000BDF20016F5DE0119A7D7D6BB641F/file/CodeOfConduct_US.pdf
Encourage honest and ethical conduct, including fair dealing and the ethical handling of conflicts of interest;
Encourage full, fair, accurate, timely and understandable disclosure;
Encourage compliance with applicable laws and governmental rules and regulations;
Ensure the protection of the Company 's legitimate business interests, including corporate opportunities, assets and confidential information; and deter wrongdoing. (Corporate Governance, 2014) I chose two other companies similar to AT&T. Those companies are:
1. Verizon Wireless …show more content…
2. T-Mobile
Verizon Wireless ethics state the following: “It is imperative that we conduct business responsibly and ethically, maintaining our reputation for trust and responsibility wherever we operate.” (Ethics and Governance, 2013) When researching T-Mobile, I found out that they are mentioned as one of the top ethical companies for 2014. Here is why:
”Our actions are guided by a strong set of Values, which coupled with our commitment to creating a diverse, open work environment, form the bedrock of T-Mobile. We do not compromise on these basic principles. Our dedication to setting a high ethical standard is something we’ve been recognized for nationally and is something we are respected for in the community.” This was spoken by the CEO of the company. Reviews of the company back up their spoken ethics. (T-Mobile’s Code of Conduct, 2014) AT&T is basically a wireless and wireline company who provides communication services to consumers. When I researched the ethical code for AT&T, I found the following 3 items that were critical when it comes to success in a company:
1. The first critical point is being in compliance with applicable laws. I think for any company it is very important to be in compliance with any federal or state laws because if not, they are not considered as a reputable company. If not in compliant with the law, they will start to lose profits, because they are going to start paying more money in fines and lawsuits.
2. The second critical point is disclosing everything accurately and timely. Telecommunications companies need to ensure to disclose all information necessary, so that the consumer can understand and comprehend. If the consumer does not understand, then the business profitability will decrease.
3. The last critical point for success would be ensuring that the company encourages honest and ethical conduct. This is a critical point for success because if your company is not honest, your consumers will not have faith in your company. If they do not have faith in your company, they will not stay at your company. When it comes to the comparison between Verizon Wireless and T-Mobile, they actually have the same goals. However, based off of reviews and research, T-Mobile actually was rated one of the top ethical companies in the United States because they strive to ensure that their employees practice ethical policies and procedures by staying in the loop with the ethics hotline. When it comes to T-Mobile, they actually provide a hotline that allows anyone to reach out and report anything nonethical that is going on. When it comes to AT&T and Verizon Wireless, their principles are pretty much the same. Their procedures and principles are the same because the companies are so much in competition with each other that they actually compete when it comes to ethical procedures. Here is the breakdown of Verizon Wireless and T-Mobile’s code of ethics compared to AT&T:
Verizon Wireless: “Our commitment to operate a responsible and ethical business starts with the Verizon Credo.
“We believe integrity is at the core of who we are,” is a principal tenet in our Credo. We know that to succeed in today’s global market, our brand must stand for integrity, trust and the highest ethical standards. We live up to these ideals through a comprehensive ethics and compliance program that is built on our Verizon Code of Conduct, ongoing educational communications and mandatory training requirements, and readily accessible tools through which all employees are encouraged to raise questions, report concerns and get information about ethics, policies, procedures and applicable laws. We have implemented a robust lineup of resources to operationalize our commitment, including:
1. The VZ Ethics and EEO GuideLine, which is available 24 hours-a-day at 800-856-1885 (U.S.), (+) 800-0-624-0007 (International) or online at www.verizonguideline.com and the Verizon Wireless Compliance Guideline available 24 hours-a-day at 800-488-7900 or online at www.verizonwirelessguideline.com.
2. A Security Control Center operated by Verizon’s Security organization, which employees can reach 24-hours a day (800-997-3287) to report or inquire about issues ranging from international cyber-security to legal compliance.
3. A reporting/inquiry channel for accounting matters managed by the Verizon Internal Audit group at
accountingcomplaints@verizon.com.
4. Environmental and Safety Hotlines for reporting emergencies, arranging for waste disposal or getting on-site help from the company’s environmental and safety specialists (Wireline, including international, 800-386-9639 and Wireless, 800-488-7900).
5. Protecting privacy is one of our highest priorities. We require all management employees to complete on-line training that reviews how to safeguard privacy and Verizon confidential and sensitive information.
6. We also maintain a zero tolerance policy for unethical business practices such as bribery. Verizon instructs employees to avoid even the appearance of improper influence. Anti-corruption training has been implemented to provide guidance and practical examples to help employees understand and comply with various anti-bribery laws, including the UK Bribery Act and the US Foreign Corrupt Practices Act.” (Ethics and Governance, 2013)
T-Mobile:
(T-Mobile’s Code of Conduct, 2014) In the world of technology, these goals tend to be repetitive, however all of the companies are slightly different when it comes to their integrity and goals. When it comes to the extent of each goal that each company uses, I have provided a clear breakdown of both:
For Verizon Wireless:
The 2 key issues that I chose for Verizon Wireless was the following:
1. A Security Control Center operated by Verizon’s Security organization, which employees can reach 24-hours a day (800-997-3287) to report or inquire about issues ranging from international cyber-security to legal compliance.
2. Protecting privacy is one of our highest priorities. We require all management employees to complete on-line training that reviews how to safeguard privacy and Verizon confidential and sensitive information. (Ethics and Governance, 2013) I chose these two issues as these are one of the most popular issues to choose when it comes to corporate responsibilities and remaining ethical. When it comes to the positive results of both of the above practices, the company will continue to have a large consumer base, remain within the competition race, and continue to rake in profits from their consumers. Basically, it boils down to this: If the company does not have any type of ethical behavior to present, they might as well close down, because they will not have any customers. Another adverse attack on not having these principles in place would be a lot of legal matters. A company that does not protect privacy, will go out of business really fast. The company would have so many lawsuits, that they would go bankrupt. For example, a couple of years ago, I was watching CNN and saw that Verizon Wireless customers were being monitored by the government. Conversations were being heard, was the summary of the story. Basically the government was stating, “If you are not doing anything illegal, then you will not have anything to worry about.” Many customers were upset, because they felt that this was a breach of their contract. Verizon Wireless lost 10% of their customers due to this uproar. Even though Verizon Wireless lost some of their revenue due to this issue, it was not on Verizon Wireless as they were being responsible and abiding by the documents provided to them from the government for this issue. When it comes to T-Mobile, I used the following 2 issues:
1. “I act ethically and obey the law.”
2. “I act honestly and openly.” (T-Mobile’s Code of Conduct, 2014) When it comes to these issues, T-Mobile holds their employees responsible for the ethical laws for their company. Every employee has to abide by each of these laws. When it comes to the positive side of the two concerns addressed above, T-Mobile will always have revenue and consumers, because they are making all of their employees responsible of abiding by policies and practices within the company. If there were no laws such as these, T-Mobile will lose business and no longer have the best customer service within the group of wireless competition. Going back to my original company, AT&T, I would like to propose 2 techniques that they could follow to ensure that the code of conduct remains relevant throughout all business changes. The first technique AT&T could use would be, to ensure they communicate with their employees on all levels when it comes to integrity and ethics. Even though employees take the code of conduct trainings in the beginning of being hired with the company, the code of conduct still needs to be enforced as a continuous training every 6 months. This way the employee stays in the loop with any changes within the company’s policy. This would be very effective, because the employee will become more knowledgeable about the company and how AT&T presents themselves. The second technique would be to promote living the corporate values. This simply means to do the right thing in everything you do. We are not perfect, however most mistakes that we make are because we caused it or made it complicated. When you live by corporate values on the daily basis, it can make your life easier and also make your work life easier because you are doing the right thing by yourself, customers, and other employees. AT&T is on the move when it comes to embracing technological change. They took the following approaches to embrace change for the company:
1. Double bandwidth- AT&T doubled the bandwidth within their network to avoid a lot of congestion for their consumers. Doubling the bandwidth allows you to access your data at better speeds as well as enhance the call quality.
2. Lower pricing plans for suit customer’s needs- To promote smartphones and data products, (and to also make life simpler) AT&T lowered their calling plans to suit the consumers’ needs and wants. They started offering “4 Smartphones at $160.00” which gives the customer 10 Gigabytes of data. This is reasonable for 4 smartphones because as we all know, AT&T is expensive in price. This allows the consumer to choose that new smartphone they want without the hassle of increasing their bill. In every positive aspect of technology, there are always challenges that are faced. AT&T could face the following 3 challenges when it comes to the changes in technology:
1. Competition is now shifting to other companies. AT&T and Verizon Wireless have been the two main rivals, since the turn of the century. However, these two companies may start to shift a little as T-Mobile, Sprint, and other carriers start to rise.
2. Being able to support trending issues and resolve them efficiently. As more and more people turn to new smartphones and new data products, they are going to need efficient support for trending issues with their devices. AT&T will have to step their game up in ensuring that the customer’s needs are addressed on the first call to promote customer satisfaction.
3. Promote Awesome Customer Service. This basically is self-explanatory. I have heard so many issues and people talking negatively about AT&T lately. This would have to change if AT&T plans to stay on top with their revenue on the new technology changes. If there is no customer satisfaction, there is going to be an issue with their profits and consumer base. Over the next 5 years, if AT&T does not change, they will suffer a decrease in profits over the next 5 years. To minimize some of the challenges that AT&T may face in the future, the company should prepare their employees now. To ensure that customer satisfaction is excellent, constantly review the feedback from the customer. AT&T does have surveys that come in the form of a text message after your calls. AT&T needs to ensure they address each survey and review what could have changed within the call to ensure customer satisfaction. AT&T also needs to ensure that these surveys are given to all departments, including U-Verse and also high speed internet departments, because if the customer is angry at his U-Verse service and he is routed to customer service for his cell phone, he will rate the company negatively because the survey comes to wireless customers only for their wireless service. AT&T boosted their lobbying spending by 30% to acquire T-Mobile in a business deal. As we all know, AT&T tried to acquire T-Mobile to increase their revenue and consumer base. “AT&T 's lobbying strategy has been guided by 13-year company veteran Jim Cicconi, a Washington insider since serving in the Reagan White House. It produced letters to regulators from more than 70 members of Congress, multiple economic studies aimed at supporting the deal, and a pledge to preserve 5,000 jobs. Yet the Justice Department on Wednesday sued to halt the $39 billion deal, calling it harmful to competition.” (Shields, 2011) In this case, lobbying was not appropriate. When it comes to global corporate sponsorship, AT&T has devoted a lot of time to ensure that they incorporate the company in a lot of sponsorships within the community: “The Civic 50 identifies and recognizes companies for their commitment to improving the quality of life in the communities where they do business. AT&T was recognized as the Number 1 most community-minded company in the communications category in 2013, and earned the number three spot in this inaugural list of America’s most community-minded companies in 2012.” (FAQ’s, Governance, and Policies, 2014) “In 2014, more than 4,000 AT&T employees received the Presidential Volunteer Service Award, the highest award recognizing employee volunteerism. A record number of employees volunteered more than 100 hours in 2013! We are proud of our employees’ commitment to service.” (FAQ’s, Governance, and Policies, 2014) In conclusion, AT&T is a very good company as they try to balance their challenges and positives as much as they can to ensure they remain ethical and also responsible as a corporation.
References
1. “Corporate Governance.” (2014) Retrieved from: http://www.att.com/gen/investor- relations?pid=5595
2. “Ethics and Governance.” (2013) Retrieved from: http://responsibility.verizon.com/ethics-and-governance/2013
3. “FAQ’s, Governance, and Policies.” (2014) Retrieved from: http://about.att.com/content/csr/home/frequently-requested-info/external- recognition.html
4. Shields, Todd. “AT&T spent 30% more on lobbying for T-Mobile deal” (2011) Retrieved from: http://usatoday30.usatoday.com/money/news/telecom/story/2011-09- 01/ATampT-spent-30-more-on-lobbying-for-T-Mobile-deal/50231132/1
5. “T-Mobile’s Code of Conduct.” (2014) Retrieved from:
http://www.t-mobile.com/Cms/Files/Published/0000BDF20016F5DD010312E2BDE4AE9B/0000BDF20016F5DE0119A7D7D6BB641F/file/CodeOfConduct_US.pdf