Sprint Corporation Environmental and financial analysis
A well-documented strategy would provide directions and promote the achievement of the goals set (Barkauskasa & Jasinskas, 2015). It benefits the stakeholders both in short and long-term. Therefore, planning for the future is not an option for the organizations. However, to develop a proper plan requires the incorporation of many aspects of the economy. Any given company is expected to conduct an extensive scanning and survey. It is ranked as the third best firm in the United States with regard to provision of wireless services to consumers in the country. It spread roots to cater for all the consumer needs in all the 50 states. The firm owns both the wireline and wireless networks hence enabling them to diversify their services to suit the different client needs.
The company utilizes some technologies to achieve its consumer satisfaction. It includes the incorporation of both 3rd and 4th generation networks, LTE (Long Term Evolution) and WiMAX (Worldwide Interoperability for Microwave Access). For a company in the telecommunication field, proper analysis of the customer characteristic is a significant undertaking. It would help the company to be ahead of the competitors regarding the service delivery. The consumers tend to complain about the high charges for the services. The client’s bargaining effect has got an influence on the company’s provision of services. Sprint needs to capitalize on such a trend by providing better quality than the competitors. For example the assembly may come up with laws and regulations to be adhered to by firms.
The executive asserts the rule, and later the judiciary ensures compliance with the regulations. There are regulations that Sprint company is expected to adhere to. The standards are set by the government in orders to maintain uniformity in the telecommunications industry. The company also needs to be aware of the laws concerned with contracts and partnerships. Thus, it is mandatory to follow where the technological wind goes for sustainability purposes. The non-economic indicators also include the environmental factors. It affects business operations in distinct ways. It is due to the industrialization aspect whereby industries are growing in numbers hence raising concerns about the environment (Coban et al. Pollution of both the skies and water has been the concern for many industries.
Sprint Company is always expected to address the societal habits and way of doing things. It needs to conduct the study of the different cultures that exist among the people. It ensures proper market penetration and easy conduction of business. The firm would be able to deliver the expected to the consumer. The overall American culture can be described as liberal. A stiff competition keeps a company on toes to provide quality services and products or risk losing the consumers (Barkauskasa & Jasinskas, 2015). Sprint Corporation has made significant steps in ensuring their sustainability is guaranteed. There are many rivals in the industry that work days and nights to win the hearts of the customers. Some of the players in the wireless industry include Verizon, T mobile, and AT & T companies.
Such competitors are a threat to Sprint firm. Sprint Company offers wireless services including voice calls and mobile data provisions. Such provisions are provided on a prepay or post-pay basis to the subscribers. Recently the company minimized the issue of consumer contracts. Instead, they embarked on cost subsidy program. The firm unleashed a leasing strategy where the consumers can be able to use it for a specified period rather than buying. Verizon firm makes about twice what Sprint records each year. During the year 2008 when the recession was the order of the day, Sprint suffered a lot. It seems that recovery has not yet been achieved, but the progress is commendable. Market In any business, the priority is to reach as many consumers as possible.
An environment whereby there is sufficient market enables business success. It tells more about the market share of the firm. Besides, the company has got few retail stores compared to the other leading players in the telecommunication game. It has about 1300 outlets while both Verizon and AT & T have more than 2000 stores out there. It is a concern that needs to be addressed through an increased retail presence in the country. It might be the problem behind the difference in the market share. The company was the first to offer 4G services enabling them to gain a significant market share. Conclusion Sprint Company needs to come up with a clear strategy to maintain its competitiveness in the industry. It is evident that the telecommunication industry is a stiff environment.
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