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Halliburton: Management Planning

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Halliburton: Management Planning
MGT 330
Randall Kensinger
June 27, 2010

Halliburton: Management Planning Introduction The world's second largest oilfields services corporation is Halliburton company with operations in more than 70 countries. Halliburton has hundreds of subsidiaries, affiliates, branches, brands and divisions worldwide and 50,000 people are employed with this company. Management planning is one of the most vital functions of management an company can use to achieve its mission. This paper will evaluate the planning function of management, analyze several factors that affect different types of planning and discuss the factors that influence management planning within Halliburton. Planning Function of Management The Halliburton board has affirm plans to it in the exercise of its responsibilities. These guidelines are reviewed annually by the Nominating and Corporate Governance Committee and revised, as appropriate ( Halliburton, 2009). The Board of Directors believes that the primary responsibility of the directors is to provide effective governance over Halliburton’s affairs for the benefit of its stockholders (Halliburton, 2009). In order for Halliburton to achieve the maximum level of profit they need to make sure that their management plan according with the economy. Halliburton management's responsibility is to set up and implement procedures through which the company can achieve maximum potential. The Board of Directors from Halliburton will evaluate the work of the CFO and take fitting action, including removal, when justified. In an executive session, each year, the lead director shall facilitate the discussion of the board to evaluate the performance of the CEO (Halliburton, 2009). In evaluating the CEO, the outside directors take into consideration the executive’s performance in both qualitative…...

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