Worldcom's Management Planning Function
In every aspect of life, today's decisions impact the state of the future, this is determined by planning. In management planning involves setting objectives and determining a course of action for accomplishing these goals. This requires managers to be good decision-makers as well as aware of environmental conditions facing their organization in order to predict future conditions. Established in 1988, WorldCom Public Relations Group was formed to allow the most independent public relations firms to serve national, international and multi-national clients while retaining the flexibility and client-service focus inherited in independent agencies (WorldCom Public Relations Group, 2010). In respect to that, this paper will examine this WorldCom’s management planning function, how it's experienced legal issues; ethics and corporate social responsibility have influenced its planning management function. Lastly, this will also explore on the factors that influence WorldCom’s tactical, operational, and strategic planning.
The telecommunications business concept of WorldCom was created with the help of Mr. Bernard Ebbers who was named CEO when the company went public in Aug. 1989 (WorldCom News, 2002). The company was well acquainted with Wall Street analysts and other investors, and in 1998, its $40 billion merger with MCI became the largest in history at the time. A year later in June, he was listed by Forbes as one of the richest men in the US when the stock ran up to a peak of $64.51 (WorldCom News, 2002). However, despite of all the success, the company came to a downfall when it was faced with legal issues. In year 2000 WorldCom improperly booked $3.8 billion as capital expenditures of which it did not account for their incurred expenses, but instead hid the expenses by pushing them into the future, appearing to its investors as spending less and therefore making more money (WorldCom News, 2002). Two years later the accounting scandals were brought to the public's
The telecommunications business concept of WorldCom was created with the help of Mr. Bernard Ebbers who was named CEO when the company went public in Aug. 1989 (WorldCom News, 2002). The company was well acquainted with Wall Street analysts and other investors, and in 1998, its $40 billion merger with MCI became the largest in history at the time. A year later in June, he was listed by Forbes as one of the richest men in the US when the stock ran up to a peak of $64.51 (WorldCom News, 2002). However, despite of all the success, the company came to a downfall when it was faced with legal issues. In year 2000 WorldCom improperly booked $3.8 billion as capital expenditures of which it did not account for their incurred expenses, but instead hid the expenses by pushing them into the future, appearing to its investors as spending less and therefore making more money (WorldCom News, 2002). Two years later the accounting scandals were brought to the public's
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