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Verizon Untethered: An Insider's Story of Innovation and Disruption
As seen on CNBC!
A history of the transformation of Verizon and the telecommunications industry told through the eyes of founding CEO Ivan Seidenberg and his leadership team, with highlights and commentary from bestselling global leadership guru Ram Charan.
The Verizon leadership team stands apart from most leadership teams today in their willingness repeatedly to put the enterprise before the individual. At first blush, this might look like a hopelessly old-fashioned notion in the age of the selfie. Yet, I would argue this is a trait that future leaders and boards of directors across industries would do well to understand and embrace.
Seidenberg not once but twice in the service of company shareholders and employees subordinated himself and put off taking sole leadership of the company to advance the enterprise’s odds of success. And many others in this story exhibited the same trait to help build this industry-leading enterprise.
They understood that the risk of not acting and thereby destroying value during a period of accelerating technological change and industry consolidation—a situation faced by leadership teams around the world today—was much greater than the risk of stepping in as No. 2 or co-CEO. In my 50 years of experience, it is a rare leadership team that will subordinate itself for the benefit of the industry, customers and the company. That principle, that the company comes first, the individual second, is what will define successful leadership teams of the future.
Multiple leadership principles, some new, some timeless, emerge from this narrative and will be of great use to the next generation of leaders across industries and around the world. By taking a look at a company that successfully executed exponential transformation, we can take the strategies of Verizon leaders and apply them to our own experiences.—Ram Charan
A history of the transformation of Verizon and the telecommunications industry told through the eyes of founding CEO Ivan Seidenberg and his leadership team, with highlights and commentary from bestselling global leadership guru Ram Charan.
The Verizon leadership team stands apart from most leadership teams today in their willingness repeatedly to put the enterprise before the individual. At first blush, this might look like a hopelessly old-fashioned notion in the age of the selfie. Yet, I would argue this is a trait that future leaders and boards of directors across industries would do well to understand and embrace.
Seidenberg not once but twice in the service of company shareholders and employees subordinated himself and put off taking sole leadership of the company to advance the enterprise’s odds of success. And many others in this story exhibited the same trait to help build this industry-leading enterprise.
They understood that the risk of not acting and thereby destroying value during a period of accelerating technological change and industry consolidation—a situation faced by leadership teams around the world today—was much greater than the risk of stepping in as No. 2 or co-CEO. In my 50 years of experience, it is a rare leadership team that will subordinate itself for the benefit of the industry, customers and the company. That principle, that the company comes first, the individual second, is what will define successful leadership teams of the future.
Multiple leadership principles, some new, some timeless, emerge from this narrative and will be of great use to the next generation of leaders across industries and around the world. By taking a look at a company that successfully executed exponential transformation, we can take the strategies of Verizon leaders and apply them to our own experiences.—Ram Charan
- GenresBusiness
384 pages, Paperback
Published August 27, 2019
22 people are currently reading
63 people want to read
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Displaying 1 - 7 of 7 reviews
April 15, 2018
What did it take to get the U.S. stock market up and running just days after the 9/11 attacks? What was Steve Jobs like as a business partner? How does a company close a $130 billion transaction, or choose a new CEO, or disrupt a successful business to stay successful?
“Verizon Untethered” provides an insider’s insight into these questions.
It’s a readable primer of interest to business students, technology geeks, or anyone curious about the collective impact of individuals who work together with a common purpose.
Many stories in this book are from the point of view of Ivan Seidenberg, the longest-tenured CEO in America before his retirement in 2011. The book also includes insights and stories from several dozen business leaders of Verizon and its predecessor companies, dating from 1983 up to present-day CEO Lowell McAdam. The text is interspersed with rare photos, and commentary from consultant Ram Charan about business "lessons learned" that are more relevant in 2018 than ever.
Scott McMurray is the author, but I suspect much of the book’s readability is due to the efforts of Joellen Brown, who is cited in the acknowledgements as helping to provide historical context, research materials and several reviews for accuracy.
Joellen, my friend and former colleague, recently retired as chief speechwriter for Verizon C-level executives and head of the company's executive communications team. She is a masterful editor. Based on her involvement in this project over the past two years, I asked her recently what she thought were key takeaways from this book.
She noted:
-- The development of the wireless business, almost from birth, and the parallels between wireless's early years and the current challenges in growing Oath, telematics, and other new businesses.
-- The audacity of some of the strategic choices (e.g., Fios, AirTouch, even the aborted TCI deal). Hindsight sometimes turns bold moves into sure things... worth emphasizing that risk-taking has always been part of the strategic DNA of the company.
-- The quest to make networks matter, and the longstanding belief that technological leadership would translate into competitive advantage.
-- The role of culture in the building of a company. Or (maybe this is the same point) the primacy of culture over personality/individual ego.
-- What makes a merger work? The book is full of mergers and acquisitions that work, but also plenty that didn't. What's the difference?
Finally, she asked about Verizon’s “essential character”: “If you could transport yourself back to 1984, what would you recognize as familiar to the Verizon of 2018?”
With full disclosure, let me try to answer that.
If one takeaway from this book is, “Verizon is not your father’s phone company,” I know that for a literal fact. My father worked 35 years for New York Telephone, NYNEX and then Verizon, and I have worked 33 years for NYNEX, Bell Atlantic and now Verizon. Still, it has never seemed that I have worked for the “same company,” even over the course of my own career, since whatever-the-company-is has changed so radically over that time.
“Verizon Untethered” is the story of that radical change, told from the perspective of people I’ve been honored to know and work beside.
There’s irony in this story too. Verizon has been changed by outside forces that it itself has hastened and enabled. The infrastructure and new technologies deployed by Verizon and its predecessor companies have been the prime catalysts for sweeping changes in the way we all live, work and play.
So to answer Joellen’s question, I would say simply:
Verizon, existentially, has always been a part of something bigger than itself.
The people who work there realize that – they always have, and always will. That connected-ness has added value to the world, added value to customers, and added value to our personal and professional lives.
In that spirit, all proceeds from this book are being donated to the VtoV Fund, which provides emergency assistance to Verizon employees unable to live in their primary homes after a natural disaster. There are no administrative fees; every penny goes to someone in need, and the Verizon Foundation provides a match for every dollar donated.
In the end, “Verizon Untethered” isn’t a history book about a company. If history has taught us anything, it’s that companies come and go. This book tells stories about people, and the things some people do to try to make a positive difference in the world.
“Verizon Untethered” provides an insider’s insight into these questions.
It’s a readable primer of interest to business students, technology geeks, or anyone curious about the collective impact of individuals who work together with a common purpose.
Many stories in this book are from the point of view of Ivan Seidenberg, the longest-tenured CEO in America before his retirement in 2011. The book also includes insights and stories from several dozen business leaders of Verizon and its predecessor companies, dating from 1983 up to present-day CEO Lowell McAdam. The text is interspersed with rare photos, and commentary from consultant Ram Charan about business "lessons learned" that are more relevant in 2018 than ever.
Scott McMurray is the author, but I suspect much of the book’s readability is due to the efforts of Joellen Brown, who is cited in the acknowledgements as helping to provide historical context, research materials and several reviews for accuracy.
Joellen, my friend and former colleague, recently retired as chief speechwriter for Verizon C-level executives and head of the company's executive communications team. She is a masterful editor. Based on her involvement in this project over the past two years, I asked her recently what she thought were key takeaways from this book.
She noted:
-- The development of the wireless business, almost from birth, and the parallels between wireless's early years and the current challenges in growing Oath, telematics, and other new businesses.
-- The audacity of some of the strategic choices (e.g., Fios, AirTouch, even the aborted TCI deal). Hindsight sometimes turns bold moves into sure things... worth emphasizing that risk-taking has always been part of the strategic DNA of the company.
-- The quest to make networks matter, and the longstanding belief that technological leadership would translate into competitive advantage.
-- The role of culture in the building of a company. Or (maybe this is the same point) the primacy of culture over personality/individual ego.
-- What makes a merger work? The book is full of mergers and acquisitions that work, but also plenty that didn't. What's the difference?
Finally, she asked about Verizon’s “essential character”: “If you could transport yourself back to 1984, what would you recognize as familiar to the Verizon of 2018?”
With full disclosure, let me try to answer that.
If one takeaway from this book is, “Verizon is not your father’s phone company,” I know that for a literal fact. My father worked 35 years for New York Telephone, NYNEX and then Verizon, and I have worked 33 years for NYNEX, Bell Atlantic and now Verizon. Still, it has never seemed that I have worked for the “same company,” even over the course of my own career, since whatever-the-company-is has changed so radically over that time.
“Verizon Untethered” is the story of that radical change, told from the perspective of people I’ve been honored to know and work beside.
There’s irony in this story too. Verizon has been changed by outside forces that it itself has hastened and enabled. The infrastructure and new technologies deployed by Verizon and its predecessor companies have been the prime catalysts for sweeping changes in the way we all live, work and play.
So to answer Joellen’s question, I would say simply:
Verizon, existentially, has always been a part of something bigger than itself.
The people who work there realize that – they always have, and always will. That connected-ness has added value to the world, added value to customers, and added value to our personal and professional lives.
In that spirit, all proceeds from this book are being donated to the VtoV Fund, which provides emergency assistance to Verizon employees unable to live in their primary homes after a natural disaster. There are no administrative fees; every penny goes to someone in need, and the Verizon Foundation provides a match for every dollar donated.
In the end, “Verizon Untethered” isn’t a history book about a company. If history has taught us anything, it’s that companies come and go. This book tells stories about people, and the things some people do to try to make a positive difference in the world.
September 19, 2018
As a telecom buff, it was not a hard choice to purchase and read this book. After having read quite some books on the history of AT&T and its split-up in the “baby-bells”, this is the first book (to my knowledge) that discusses what happened after the split-up.
This book starts thereby from the NYNEX. The baby-bell with the bell operating companies in New York and New England. From the point of Ivan Seidenberg (future CEO), it discusses many aquisitions, mergers and JV’s. The latter with part of Vodafone.
The book also gives away quite some info on the original rationale to start massively investing in fiber (Fios). That the management already in 2005/2006 decided to start heavily investing in fiber, lead to one of the largest stand-alone CAPEX projects ever in the USA. One just has to have the guts to decide to start investing over 20 billion dollars in one project. This based on the believe that copper wire (DSL), won’t be able to compete in the long-term future with cable.
I found this book a great read, which for me finally gives a good background on what is the story of some of the baby-bells. It easily deserves four stars.
What I still hope, is that someone will write-up the story of the current AT&T. Although some information could be found in this book, many many more can be said I think on what eventually happened from the SBC baby-bell.
This book starts thereby from the NYNEX. The baby-bell with the bell operating companies in New York and New England. From the point of Ivan Seidenberg (future CEO), it discusses many aquisitions, mergers and JV’s. The latter with part of Vodafone.
The book also gives away quite some info on the original rationale to start massively investing in fiber (Fios). That the management already in 2005/2006 decided to start heavily investing in fiber, lead to one of the largest stand-alone CAPEX projects ever in the USA. One just has to have the guts to decide to start investing over 20 billion dollars in one project. This based on the believe that copper wire (DSL), won’t be able to compete in the long-term future with cable.
I found this book a great read, which for me finally gives a good background on what is the story of some of the baby-bells. It easily deserves four stars.
What I still hope, is that someone will write-up the story of the current AT&T. Although some information could be found in this book, many many more can be said I think on what eventually happened from the SBC baby-bell.
November 9, 2020
Having read this immediately following Matthew Stewart's The Management Myth, I was on the lookout for the many telltale signs of Bad Business Books. This didn't disappoint. Aphorisms, management advice from gurus, and common sense told with hushed reverence. There are some mildly interesting snippets about how Verizon missed out on the iPhone (really wasn't in the game due to CDMA, it turns out), and one actual humanizing moment describing the company response to 9/11. Other than that, be prepared to THRILL in hearing unending descriptions of (mostly) dudes who are promoted to this or that executive position in charge of... something? (Exactly what those executives do is never really explained). But be damned sure that those executives were really, really important. The other employees? You'll learn that union members were not even invited to "employee" meetings. Take a shot whenever you hear a non-executive mentioned by name - don't worry, you'll still be sober after finishing the book. And board meetings -- board meetings! You'll learn how Verizon made their board, like very effective by... forcing them to attend meetings in person, sit around a round table (oval actually) and eat dinner together. Seriously. I, for one, am ready for my board seat!
Oh, and spoiler alert: the CEO at the end of the book has already retired.
Oh, and spoiler alert: the CEO at the end of the book has already retired.
October 23, 2021
Massive telecom company with sufficient cash reserves makes reasonable decisions to continue to evolve and remain relevant in the telecom industry…
This strikes me more as a well managed company than anything else. Verizon seems to be a book covering what you should expect from management rather than novel management strategy or unexpected success. In sum, this is the Tim Duncan of management chronicles—very solid but not flashy or overly entertaining.
This strikes me more as a well managed company than anything else. Verizon seems to be a book covering what you should expect from management rather than novel management strategy or unexpected success. In sum, this is the Tim Duncan of management chronicles—very solid but not flashy or overly entertaining.
February 12, 2019
I purchased this as a family member was part of the Verizon leadership team before retirement and is pictured in the book and mentioned in the acknowledgements. That being said, I enjoyed reading about the history of Verizon, how it has evolved with opportunities and technology and the vision of its leadership throughout. A really interesting read.
August 31, 2019
Very insightful and interesting to understand Verizon‘s path and important role in the history of telecommunication!
February 12, 2022
It started slow for me but then I really got in to it. If you're in the telecom world it's worth the read.
Displaying 1 - 7 of 7 reviews