A Look Into Halliburton's Planning Strategies
Management Planning Paper:
A Look into Halliburton’s Planning Strategies
Michael-Paul Battle
University of Phoenix
October 8, 2009
Management Planning Paper
Halliburton is one of the largest providers of products and services to the oil and gas industry. Contributing to the success at Halliburton are 50,000 employees that work in over 70 different countries (Halliburton, 2009). What began in 1919 after borrowing a wagon, some mules and a mixer, has become a successful business by focusing on innovation and expansion. This paper will evaluate the management planning process within Halliburton and the four types of planning, and discuss the issues of legal, ethics, and corporate social responsibilities that impact the management planning processes. Planning at Halliburton. Planning is the primary management function that formalizes an organization goal. Each plan starts with a mission or vision and Halliburton’s vision is, "To be welcomed as a good corporate neighbor in our communities; to do no harm to the environment; to provide demonstrable social and economic benefits through sustainable relationships, sustainable technology and sustainable sourcing; and to validate our progress through transparency and reporting" (Halliburton, 2009). Their vision statement clearly defines how they plan to do business and work with the environment and surrounding communities. There are four different types of planning in management, strategic planning, tactical planning, operational planning, and contingency planning. Strategic planning. Strategic planning involves making decisions about the long-term goals and strategies of the organization. The long-term goal of Halliburton is to expand in the global market to help benefit any stockholders and surrounding communities. Halliburton strategic plan is to continue to expand towards the Middle East and surrounding areas, where state-owned oil companies represent a growing source of business (Sourcewatch, 2009). One
A Look into Halliburton’s Planning Strategies
Michael-Paul Battle
University of Phoenix
October 8, 2009
Management Planning Paper
Halliburton is one of the largest providers of products and services to the oil and gas industry. Contributing to the success at Halliburton are 50,000 employees that work in over 70 different countries (Halliburton, 2009). What began in 1919 after borrowing a wagon, some mules and a mixer, has become a successful business by focusing on innovation and expansion. This paper will evaluate the management planning process within Halliburton and the four types of planning, and discuss the issues of legal, ethics, and corporate social responsibilities that impact the management planning processes. Planning at Halliburton. Planning is the primary management function that formalizes an organization goal. Each plan starts with a mission or vision and Halliburton’s vision is, "To be welcomed as a good corporate neighbor in our communities; to do no harm to the environment; to provide demonstrable social and economic benefits through sustainable relationships, sustainable technology and sustainable sourcing; and to validate our progress through transparency and reporting" (Halliburton, 2009). Their vision statement clearly defines how they plan to do business and work with the environment and surrounding communities. There are four different types of planning in management, strategic planning, tactical planning, operational planning, and contingency planning. Strategic planning. Strategic planning involves making decisions about the long-term goals and strategies of the organization. The long-term goal of Halliburton is to expand in the global market to help benefit any stockholders and surrounding communities. Halliburton strategic plan is to continue to expand towards the Middle East and surrounding areas, where state-owned oil companies represent a growing source of business (Sourcewatch, 2009). One
References: Halliburton. (2009). Halliburton. Retrieved October 3, 2009, from www.halliburton.com Knowmore. (2009). Halliburton company. Retrieved September 22, 2009, from http://www.sourcewatch.org/index.php?title=Halliburton#Organizational_structure New York Times. (2007). Halliburton moving CEO from Houston to Dubai. Retrieved September 30, 2009, from http://www.nytimes.com/2007/03/12/business/worldbusiness/12iht-web- 0312halliburton.4878892.html?_r=2 Sourcewatch. (2009). Halliburton company: Under investigation and relocating to Dubai. Retrieved October 4, 2009, from http://www.sourcewatch.org/index.php?title=Halliburton#Under_investigation_an d_relocating_to_Dubai Wanted. (2009). Halliburton watch. Retrieved October 1, 2009, from http://halliburtonwatch.org/about_hal/halad.html