Comcast Company in Telecommunications Industry

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Comcast Company in Telecommunications Industry

Defining the Industry

The industry of telecommunications has evolved significantly over the course of the last two centuries. From the telegraph to 3D television and virtual reality, there had been quite a few substantial steps forward that defined the industry and allowed numerous manufacturers to ride the wave of innovation (Besanko et al., 2015). Ever since the advent of cable television and mobile phones, the telecommunications industry has experienced enough growth to outrun other sources of entertainment and compete with Internet-based alternatives. Ultimately, the Internet became one of the reasons why the telecommunications industry turned even more successful, involving cell phone and computer owners. The world has changed over the course of the past five decades due to the media advances and all the instances of social exchange that have been generated via telecommunications (Besanko et al., 2015). Therefore, Comcast is a perfect example of a company active in the telecommunications sector.

Even though Comcast started relatively slow when it began deploying its strategy, the company was able to make vital changes to its practices in order to appeal to consumers. The telecommunications industry was rightfully promoted by Comcast since the latter was heavily relying on exquisite customer service and effective communication (McGuigan & Pickard, 2016). Accordingly, the future of technology in the industry was shaped by one of the largest companies that put customers over profit. The company tried to serve the community and prove that the telecommunications industry was a dedicated means of providing services that boosted relationships between stakeholders as well (McGuigan & Pickard, 2016). The influence of Comcast was so huge that the majority of existing telecommunications organizations started working on their new strategies that would be founded on corporate social responsibility.

Analyzing the Structure of the Industry

As for the structure of the telecommunications industry, it may be noted that the primary focus of many organizations, including Comcast, is on customer satisfaction. The notion of leadership plays one of the central roles as well because it affects the ways in which customers participate in strategic planning and product marketing (Besanko et al., 2015). In the case where a company does not pay enough attention to consumer interests, it will most likely lose customers and leave the telecommunications market. Similar challenges may be posed by the presence of technical problems and an ever-changing vision, as both these problems are characteristic of the 21^st century and its dynamics (McGuigan & Pickard, 2016). Comcast is a great example of a telecommunications company because its approaches to business and marketing rarely revolve around expansion and growth. The company picks consumers and integrity over monetary resources in order to support leadership incentives and foster growth in a completely different way.

The telecommunications industry is also severely affected by an increasing rate of competition that can be explained by the increasing demand. Irrespectively, the industry is also shaped by the growing number of risks and threats that relate to technology and innovation (McGuigan & Pickard, 2016). In a sense, every organization has to consider the unexpected in order to succeed and outrun its rivals. This is one of the main reasons why the industry stands on the three fundamental pillars: equipment, services, and wireless communication. According to Besanko et al. (2015), Comcast succeeded because its management put an emphasis on each of these aspects and generated an ample force to control the market. Therefore, it may be stated that the telecommunications industry is equally dependent on hardware, software, and consumers. Nevertheless, the latter variable has much more power when it comes to decision-making and future incentives.

References

Besanko, D., Dranove, D., Shanley, M., & Schaefer, S. (2015). Economics of strategy (7th ed.). John Wiley & Sons.

McGuigan, L., & Pickard, V. (2016). Comcast corporation. In Global Media Giants (pp. 72-91). Routledge.

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