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Lemont Feb 27, 2008
Management Planning Paper
In management, each of the four functions, planning, organizing, leading, and controlling,
are crucial to the development of any business. Involving employees in the planning
process help them understand the goals of the organization. Planning is analyzing a
situation, determining the goals that will be pursued, and deciding in advance the actions
needed to pursue the goals. This paper will evaluate the planning function of the
Halliburton Company and analyze the impact that legal issues, ethics, and corporate social
responsibilities have on management planning along with examples of each, and analyze
three factors that influence strategic, tactical, operational, and contingency planning.
Planning is the core area of all the functions of management. Halliburton Company was
founded in 1919 and is headquartered in Houston, Texas with an additional headquarter in
Dubai, the United Arab Emirates. Halliburton Company provides various products and
services to the energy industry worldwide. Halliburton serves the upstream oil and gas
industry throughout the lifecycle of the reservoir, from locating hydrocarbons and
managing geological data, to drilling and formation evaluation, well construction and
completion, and optimizing production through the life of the field. The company operates
in three divisions: Drilling, Evaluation, and Digital Solutions; Fluid Systems; and
Production Optimization. The Drilling, Evaluation, and Digital Solutions division offers
processes coupled with software and hardware solutions to visualize and simulate well
activity, while its drilling tools, logging, and perforating technology enables optimal
placement and production of the well. The Fluid Systems Division focuses on fluid
management and technologies to assist in the drilling and construction of oil and gas wells.
The Production Optimization division tests, measures, and provides means to manage and
improve well production, immediately after a well is drilled or after it has been producing
for some time (Businessweek, 2008).
The Board of Directors believes that the primary responsibility of the Directors is to
provide effective governance over Halliburtons affairs for the benefit of its stockholders.
Responsibilities responsibility includes: reviewing succession plans and management
development programs for members of executive management; reviewing succession plans
and management development programs for members of executive management;
reviewing and approving periodically long-term strategic and business plans and
monitoring corporate performance against such plans; adopting policies of corporate
conduct, including compliance with applicable laws and regulations and maintenance of
accounting, financial, disclosure and other controls, and reviewing the adequacy of
compliance systems and controls; evaluating annually the overall effectiveness of the
Board; and reviewing matters of corporate governance
