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What Is Sprint's Merger?

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Literature Review
In 2005, Sprint’s first major merger was with Nextel Communications. The idea of the two companies merging was to bring two different types of phones services together (personal cell phone and home services) in order to increase their stock price. However, that was not the case, soon after the merger Nextel executives and managers left the new company, stating the two business cultures did not get along. Thus, the company’s stocks plummeted and the merger was considered to be a great failure (Shukla, 2014). In addition, Sprint Corp. 10-K (2016) noted that SoftBank Corp., now SoftBank Group Corp., which merged with Sprint Nextel, demonstrated a pattern of financial problems. As a result of the SoftBank merger, SoftBank Group …show more content…

The most recent lawsuit was in 2017, where Sprint Corporation faced an overtime pay dispute with 153 employees. This case was followed-up by a second lawsuit from another former employee, Tijuana Mingo, who claimed that employees had to under-report worked hours and work outside of paid hours. Sprint had to pay a settlement in the amount of $365,000 dollars. In turn, adding yet more debt to the company (Davis, 2017).
In summary, Sprint first reported a financial crisis in 2008. During this time, top executives implemented a strategic financial plan with a quantitative approach that would increase efficiency and reduce cost. However, because the priority was focused on cost, customer service began to suffer. This led to a decrease in client base and increasingly more debt. Some predict that Sprint will face bankruptcy (Ireland, Hoskission and Hitt, 2008).
Recently, Venenzuela has taking a futuristic step towards their own financial crisis. Maduro, the president of Venezuela, revealed his newest approach to bring his country out of economic sanction. It is apparent that he has taken a strategic shift away from the USD which did not work as expected. Nicholas Maduro, confidently announced that Venezuela will stop accepting dollars for all imports and will only be accepting cryptocurrency (Weir,

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