- How will you fund the startup and ongoing costs for your strategic initiative?
The project will be funded by the investment budget at Verizon to increase cyber security, giving customers more options to conduct business with us and cut operational costs with crypto transactions.
- How will your plan improve the organization’s financial health relative to its competitors?
This plan will increase security to prevent a mega data breach from happening to Verizon. Verizon stores a vast amount of data on our customers from individuals to global enterprises, we are a hot target for all hackers; therefore, security and privacy have to be taken at the highest level. Also, adopting cryptocurrency as a form of payment helps reduce operational costs in transaction fees compared to traditional credit cards. Lastly, it makes Verizon be more attracted to the tech-savvy adopters who support the new trends which increase revenue for Verizon.
- How does your plan compare to your company’s average (or industry average) profit margins for similar projects or services?
The telecom industry’s average profit margin is 17% in 2020 (1) and my proposed projects is aligned with the industry’s average.
- Why is your proposed plan superior to other options to strengthen the long-term financial health of the organization?
Digital currencies are being adopted widely across the globe and it’s only expanding. Implementing cryptocurrency as a form of payment is a future-proof plan that will establish a strong foundation for many years to come.
- Provide a summary of how you arrived at your investment, revenue, and cost forecasts.
Forecasting is based on historical and current data internally and externally along with research of what’s hot in the market to adjust the number accordingly. Data is what backup my theory therefore my report will be data-rich to demonstrate how my proposed plan performs compared to others within the company.
Reference:
- https://www.investopedia.com/ask/answers/060215/what-average-profit-margin-company-telecommunications-sector.asp
- JWI599. Week 7. How to Calculate ROI
- JWI599. Week 7. EOP Videos
