Management Planning

Topics: Management, Planning, Strategy Pages: 4 (1176 words) Published: August 31, 2013
Management Planning

Management Planning
According to Halliburton.com (2013), “Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. … Halliburton comprises 13 product service lines (PSLs). The PSLs operate in two divisions: Drilling and Evaluation, and Completion and Production” (para. 1-2). This is a company that needs to put the best strategic plan in place that will plan effectively for the future of the company that will make adjustments based on the influence. The adjustment influences are legal issues, ethics, corporate social responsibility, and other factors that can make a company need to rethink the strategy that they have in place. This is done by planning for possibilities as neglecting one area may have negative consequences on the entire company’s future, especially in an industry that can have a negative reputation among consumers and a great deal of competition. Planning is the central function of management, and it pervades everything a manager does. In planning, a manager looks to the future, saying, “Here is what we want to achieve, and here is how we are going to do it” (Sims, 2002, p. 10). Managers need plan out the organization’s goals and strategies to remain successful, especially for such a large business as Halliburton in a very competitive energy field. One thing that can strain Halliburton’s planning process is that they have opened a second headquarters in the Middle East to be closer to the oil and gas fields in this area. Acquiring two headquarters can cause some tricky decisions when it comes to determining corporate plans that will require those in management from both headquarters to meet and consult the company strategy. The advent of meeting software and other similar products help to relieve some of the burden of dealing with international locations. The influence that legal issues can have on management planning at Halliburton is that it can...

References: Corporate Profile. (2013). Halliburton. Retrieved, from http://www.halliburton.com/AboutUs/default.aspx?pageid=2458&navid=966
Hellriegel, D., Jackson, S. E., & Slocum, J. W. (2007). Managing: a competency-based approach (11th ed., Instructor 's ed.). Mason, OH: Thomson South-Western.
Sims, R. R. (2002). Managing organizational behavior. Westport, CT: Quorum Books.
Whitman, M. E., & Mattord, H. J. (2010). Management of information security (3rd ed.). Boston, MA: Course Technology, Centage Learning.
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