Halliburton Management Planning Paper Mgt 330
Haliburton Management Planning
Curtis B. Goodson
MGT/330
Aug 18, 2011
Michael Golojuch
Halliburton Management Planning
The corporation that I decided to write about is the Halliburton Company, which was founded in 1919. The base headquarters is in Houston, Texas with an additional headquarters in Dubai, the United Arab Emirates. This is a large corporation with a number of contracts with the government. They have several contracts with the military through a company called Brown & Roots which is subcontracted.
When we think of management in a business it deals with four functions, planning, organizing, leading and controlling. Everyone has to be involved in the planning of the organization. We look at analyzing in the planning to come up with goals and decide how to pursue the best method of achieving the goals. During this process we must consider the legal issues, ethics social responsibilities to what impact they have on the planning. There are factors that must be analyzed to influence the operational, tactical and contingency planning.
In any organization the planning part is the key to all functions of management. This company provides services and products worldwide when it comes to the energy industry. This company serves the oil and gas industry when it comes to …show more content…
drilling, formation evaluation, well construction, completion and production. There are three divisions in this company, Drilling, Evaluating, Digital Solutions; Fluid Systems; and Production Optimization. While Drilling, Evaluation and Digital Solution offer the solutions of hardware and software process in the production of the well. The Fluid System will focus on the management of fluid and technologies in drilling and constructing gas and oil wells. The means to manage and improve well production is done within the Production Optimization division. This is done after a well has been producing for a period of time or after the well is drilled.
The Board of Directors has a primary function to provide effectively oversight in the affairs of the company benefit for the stockholders. They have the responsibility to review plans, and manage programs for the management executives. They review long-term plans, monitor the performance and adopt policies in the conduct of the company. They ensure the laws and regulations are followed and the maintenance of the accounting, financial, disclosure and other controls are governed. Ensuring the compliance of systems are adequate and controlled, evaluating it annually for overall effectiveness of the board.
The policies requires all to observe high standards of business and ethics when the conduct their duties and responsibilities. Honesty and integrity must be practice by all in every aspect when it comes to dealing with other companies, employees, business community, the public, shareholders, customers, suppliers, competitors and the government. The company gives back to individuals and the communities where it is located because it strengthens both. The company gives to a host of charitable organizations.
The company managers are required to continually upgrade the skills and performance of the employees to include their own. In doing this they stay competitive with other organizations in the aspects of business. This method makes the members more competitive in their current job responsibility.
This corporation was involved in a scandal that was against policy, ethics and code of conduct.
They were under scrutiny for the way they made trades and accounted for revenue and expenses. The political administration in Washington had a lot to do with this scandal to rectify the greed and dishonesty. The cost overruns for jobs were looked into along with their accounting practices. The former CEO was Dick Cheney who was in charge of the accounting services. A suit was filed against Mr. Cheney also and Halliburton for filing false financial statements and misleading investors. The suit claimed the company accounting procedures amounted to as much $445 million in a three year
period.
In summary, this company has over 45,000 employees, with operations in over 70 countries. The company main priority is to provide safe and quality products and services while remaining competitive. While they continue the search for new resources in energy in many places around the world their actions is guided by their vision.
References;
Gutman, H (2002). Retrieved February 27, 2008, Dishonesty, Greed and Hypocrisy in Corporate America
Halliburton. Retrieved February 27, 2008,
http://investing.businessweek.com/rsearch/stocks/snapshot/snapshot_article.asp?sysbol=HAL
Curtis B. Goodson
MGT/330
Aug 18, 2011
Michael Golojuch
Halliburton Management Planning
The corporation that I decided to write about is the Halliburton Company, which was founded in 1919. The base headquarters is in Houston, Texas with an additional headquarters in Dubai, the United Arab Emirates. This is a large corporation with a number of contracts with the government. They have several contracts with the military through a company called Brown & Roots which is subcontracted.
When we think of management in a business it deals with four functions, planning, organizing, leading and controlling. Everyone has to be involved in the planning of the organization. We look at analyzing in the planning to come up with goals and decide how to pursue the best method of achieving the goals. During this process we must consider the legal issues, ethics social responsibilities to what impact they have on the planning. There are factors that must be analyzed to influence the operational, tactical and contingency planning.
In any organization the planning part is the key to all functions of management. This company provides services and products worldwide when it comes to the energy industry. This company serves the oil and gas industry when it comes to …show more content…
drilling, formation evaluation, well construction, completion and production. There are three divisions in this company, Drilling, Evaluating, Digital Solutions; Fluid Systems; and Production Optimization. While Drilling, Evaluation and Digital Solution offer the solutions of hardware and software process in the production of the well. The Fluid System will focus on the management of fluid and technologies in drilling and constructing gas and oil wells. The means to manage and improve well production is done within the Production Optimization division. This is done after a well has been producing for a period of time or after the well is drilled.
The Board of Directors has a primary function to provide effectively oversight in the affairs of the company benefit for the stockholders. They have the responsibility to review plans, and manage programs for the management executives. They review long-term plans, monitor the performance and adopt policies in the conduct of the company. They ensure the laws and regulations are followed and the maintenance of the accounting, financial, disclosure and other controls are governed. Ensuring the compliance of systems are adequate and controlled, evaluating it annually for overall effectiveness of the board.
The policies requires all to observe high standards of business and ethics when the conduct their duties and responsibilities. Honesty and integrity must be practice by all in every aspect when it comes to dealing with other companies, employees, business community, the public, shareholders, customers, suppliers, competitors and the government. The company gives back to individuals and the communities where it is located because it strengthens both. The company gives to a host of charitable organizations.
The company managers are required to continually upgrade the skills and performance of the employees to include their own. In doing this they stay competitive with other organizations in the aspects of business. This method makes the members more competitive in their current job responsibility.
This corporation was involved in a scandal that was against policy, ethics and code of conduct.
They were under scrutiny for the way they made trades and accounted for revenue and expenses. The political administration in Washington had a lot to do with this scandal to rectify the greed and dishonesty. The cost overruns for jobs were looked into along with their accounting practices. The former CEO was Dick Cheney who was in charge of the accounting services. A suit was filed against Mr. Cheney also and Halliburton for filing false financial statements and misleading investors. The suit claimed the company accounting procedures amounted to as much $445 million in a three year
period.
In summary, this company has over 45,000 employees, with operations in over 70 countries. The company main priority is to provide safe and quality products and services while remaining competitive. While they continue the search for new resources in energy in many places around the world their actions is guided by their vision.
References;
Gutman, H (2002). Retrieved February 27, 2008, Dishonesty, Greed and Hypocrisy in Corporate America
Halliburton. Retrieved February 27, 2008,
http://investing.businessweek.com/rsearch/stocks/snapshot/snapshot_article.asp?sysbol=HAL