Halliburton: Management Planning
June 27, 2010
Halliburton: Management Planning
The world's second largest oilfields services corporation is Halliburton company with operations in more than 70 countries. Halliburton has hundreds of subsidiaries, affiliates, branches, brands and divisions worldwide and 50,000 people are employed with this company. Management planning is one of the most vital functions of management an company can use to achieve its mission. This paper will evaluate the planning function of management, analyze several factors that affect different types of planning and discuss the factors that influence ...view middle of the document...
Some of the areas in the company that Halliburton management want to focus on is the implementation and development of action to contribute long lasting economic benefit to the company and accomplishment of strategic objectives and development of management. Annually Halliburton reviews and evaluates the chain of plans and management development programs for all members of executive management, including the CEO (Halliburton, 2009).
Careful considerations of legal aspects are the responsibility of management and are of the utmost importance before any action to produce, sell, and or acquire products can be finalized. Due to earlier implications of corruption at Halliburton and criminal allegations brought about from the Cheney reign, there exists an extensive management process presently within Halliburton continually keeping check and balance on all actions of management and individual divisions of the company. The Halliburton (2009) Web site “it is the policy of the Company to comply with applicable law.” General policies and practices of (Halliburton,2009) state, “the Company is primarily governed by United States law, and that United States law applies to some of the Company's business outside the United States.” Halliburton (2009), “As a good business citizen, we must observe the applicable laws of the countries in which the Company does business.” All strategic business plans implemented must be approved through the “Board of Directors” and must meet “Corporate Governance Guidelines” (Halliburton 2009) before initializing of a process or procedure can begin. The Halliburton (2009) Web site, “The primary responsibility of the Directors is to provide effective governance over Halliburton's affairs.” Legal questions are researched, (Halliburton, 2009), “including compliance with applicable laws and regulations.” Laws vary from country to country, and extensive educated knowledge of the laws from one continent to another is what global businesses must have if production and delivery in a legal and ethical fashion is to be achieved and kept consistent. Management and the body of employees of Halliburton must familiarize themselves with these general policies and accept them in order to be member of the company.
According to the Halliburton 'Code of Ethics' Halliburton (2009) website, “When acting on behalf of the Company, Directors and employees shall not take unfair advantage through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or other unfair-dealing practices.” This statement is representative of the high expectation imposed upon management and the duties of management to monitor and enforce high ethical standards within Halliburton and the business dealings of the entity. With international responsibilities being met by management within this company, using 'Code of Ethics' principles consistently, one can be assured that ethics are of a high...