NEW YORK -- Verizon Communications (NYSE:VZ) announced Monday (April 16) that it has become the first Board Company Member of The University of Texas at Dallas School of Management's innovative new global business and education consortium, Enterprise 2020.
Markets change quickly, making it increasingly important for companies to identify and develop distinctive competencies that are applicable across all industry segments as well as corporate-wide functions. The Enterprise 2020 program, a partnership between the university and industry leaders, is designed to develop new approaches to creating and enhancing corporate and customer value through transformation.
John W. Diercksen, Verizon executive vice president for strategy, development and planning, said, "This consortium is expected to be a key component of Verizon's ongoing transformation. Verizon will contribute to, and benefit from, this unique coalition of thought leaders and senior executives -- substantially enhancing our position for continued success in changing markets."
Professor Michael D. Oliff, Enterprise 2020 Director at UTD's School of Management, said, "Increased global turbulence has impacted the effectiveness of many management theories and practices -- and placed a premium on a firm's ability to accelerate and sustain transformational change. The creation of sustained customer value -- leveraged by more effective/rapid resource allocation -- is limited today by our ability to establish a stretch culture and sustain peak performance at team and individual levels."
With access to a broad and unique variety of educational resources and business experience, Enterprise 2020 participants will share and develop best practices, establish value-creation strategies, and participate in events and onsite studies. With Verizon's help, the program launched on January 1, 2007, and it is planned to continue for five years.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 59 million customers nationwide. Verizon's Wireline operations include Verizon Business, which operates one of the most expansive wholly owned global IP networks, and Verizon Telecom, which is deploying the nation's most advanced fiber-optic network to deliver the benefits of converged communications, information and entertainment services to customers. A Dow 30 company, Verizon has a diverse workforce of approximately 242,000 and last year generated consolidated operating revenues of more than $88 billion. For more information, visit www.verizon.com.
Enterprise 2020, based in the School of Management at The University of Texas at Dallas, is a five-year global consortium of cross industry firms and executive teams working in collaboration with a multidisciplinary faculty. It serves as a catalyst and conduit of innovative solutions to guide, accelerate and sustain enterprise and individual transformation. For more information, visit www.som.utdallas.edu/et2020.