Verizon's innovative technology enhances people's lives. We address critical needs in our communities and create long-term growth by sharing our success.
SHARING OUR SUCCESS
Verizon has deep roots in the communities we serve. Our networks are an engine for economic growth, and our products enhance the relationships that support our society.
Our advanced technology is providing exciting new opportunities to find powerful answers to some of the enduring challenges that face our society, such as, how can we transform healthcare?
Is there a better way to manage our energy usage? How can we give our students a better education? How can we become more sustainable?
We can now address these questions in innovative ways, using our wireless and broadband services to help our communities grow.
This creates a sustainable long-term growth strategy — one that opens new markets for Verizon, provides value for shareowners and helps solve community problems. Our goal is to take our corporate responsibility to a higher level of social impact, because we believe that creating a healthy, sustainable society is the best way to create a healthy, sustainable business.
BUSINESS AND SOCIAL VALUE METRICS
In 2011, we formalized our strategy for creating business and social value under the mantle of “Shared Success,” a term that derives from the Verizon Credo. We made strong progress last year. We laid the groundwork for our “Powerful Answers” campaign, which helps us identify and accelerate deployment of technology solutions that create shared value. We developed a process to capture data that measures the value of our technology to the communities we serve. We also revised our philanthropic strategy to use our technology to address the challenges of underserved communities and accelerate social change in education, healthcare and energy management.
In the healthcare market, we created metrics for our mHealth products. In addition to capturing data on business performance measures such as revenue and market share, the metrics will help us understand how our products improve patient outcomes. In 2013 we will work with our healthcare customers to apply these metrics. The information we collect helps our customers measure improvements in patient care and helps us demonstrate the effectiveness of our solutions. We will develop similar measures for our education and energy products.
A FOUNDATION FOR SOCIAL INNOVATION
2012 was a year of transition for the Verizon Foundation as it revised its strategy to become a channel for social innovation. Its new focus is on accelerating social change by combining our advanced technology with its philanthropic resources to address challenges in education, healthcare and energy management.
The Verizon Foundation's programs enable us to better understand how our technology can benefit society and deliver innovative solutions that transform lives. This is especially true in underserved communities, which might experience the most benefit and rapid improvement from the adoption of Verizon's newest technologies.
INNOVATIVE SOCIAL SOLUTIONS
Our new philanthropic strategy parallels the corporate strategy of our Innovation Program. Verizon's LTE Innovation Centers provide a wide range of companies with opportunities to generate new ideas, refine concepts and bring breakthrough products to market through a process that stimulates innovation and change.
Just as these Innovation Centers are incubators for new products and applications of technology, the Verizon Foundation aims to become an incubator for new social solutions. It is collaborating with leading nonprofit organizations to apply our sophisticated technology and expertise to address some of the most critical challenges in education, chronic healthcare and energy efficiency.
By partnering with dynamic, forward-thinking organizations to design programs to address these urgent problems, the Verizon Foundation is demonstrating how technology can be used to engineer positive social change, faster and easier.
TRACKING OUR SUCCESS
As a technology incubator, the Verizon Foundation will track and measure outcomes and improvements at every stage. It will evaluate the social value of these initiatives, providing new insight and research into how best to integrate technology into solving social problems and scale-up results. In this way, we can demonstrate how our social investments create new technology-based solutions and validate the ability of our products to address unmet needs.
To learn more about Verizon's commitment to shared success, visit our Corporate Responsibility site at http://responsibility.verizon.com/sharedsuccess.