Halliburton Essay Example

Halliburton Essay The company has gone through some negative publicity for exercising developing questionable business practices that have Impacted the American sprayer. In this paper I will evaluate Hallucinations planning approaches, analyze the influence of their corporate structure and their management initiatives. According to the Hallucination website (2009), the company consists of two divisions: Drilling and Evaluation and Completion/Production. Drilling and Evaluation provide its customers with an array of services that include: Abroad fluid services, Sperry drilling services, security drill bits, Hireling and Perforating services and Landmark and Project management. On the other hand, the completion and production dolls ancestress on delivering production enhancement services such as cementing, intervention and completion services. With so many responsibilities, Hallucinations management style and initiatives must be socially responsible and professionally aligned with its mission. In order for Hallucination to be successful, the company must have effective planning strategies that work. Hallucinations key to effective planning lies on their ability to keep their employees safe, employing its people according to their capabilities and developing technologies and financial Initiatives that bring confidence to Its customers. Furthermore, Hallucinations planning initiatives derive from several job performance initiatives. These include: the done right index, customer cost of poor quality, and customer non-productive time programs. With these checks and balances, Hallucinations ultimate goal Is to provide Its employees and customers with zero health, safety environment incidents, zero cost of poor quality and superb customer satisfaction. Additionally, in order to meet long term goals, the company has a board of directors that are responsible for reviewing long term strategic and business plans annually. We will write a custom essay sample on Halliburton specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Halliburton specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Halliburton specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Hallucination requires directors, employees and agents to observe high standards of 1 OFF Dustless Ana personal tenets In ten conduct AT tenet outlets Ana responsibilities e company believes that employees must have a high degree of decorum and should not take unfair advantages, through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or other unfair dealing practices. To achieve these initiatives, the company has established guidelines covering areas such as: legal, ethics and corporate social responsibility. However, in spite of the Meanys vision and business initiatives, the company has faced some legal troubles. One legal trouble that the company has faced took place in September 2001. During this time the company was faced with a lawsuit and was ordered to pay investors one hundred thirty million dollars for misleading investors regarding the companys stock performance. It is evident that this affected the management planning by reducing the financial strength of the company. The website for ethics in business (2009), mentions that another issue that has affected Hallucination is their ethical practice standards. In the early sass the company was found to be in violation of federal trade barriers in Iraq and Libya by selling both countries dual-use oil drilling equipment and sending six pulse neutron generators to Libya. This action drove the company to plead guilty and ordered to pay $1. 2 million dollars with another $2. 6 million in penalties. In regard to corporate social responsibility, Hallucination is a good example of corporate greed. Hallucinations relocation of its headquarters to Dub while maintaining a corporate office in Houston is socially irresponsible. This move is clearly an insult to every American taxpayer who have paid for the companys no-bid contracts and endured their overcharging practices throughout the years. Whats even more alarming is the fact that during the Bush administration, Hallucination was accused of overcharging and contractor waste amounting to $2. 7 billion dollars. Irresponsibility such as this one affects the companys management planning strategies because it no longer controls its assets and looses its integrity. In my mind, some of the factors that influence the tactical, operational, and interagency planning of Hallucination are their lack of leadership, ethics and control. The company has been through so many ethical issues ranging from overfilling taxpayers by $169 million dollars to practicing human trafficking in Iraq. One way of correcting this deficiency is by first recruiting talented people with integrity and leadership skills that will act with the companys best interest in mind. Secondly, Hallucination should implement a process that allows for ethical checks and balances in order to avoid poor decision making thus preventing costly legal issues. Third, there has to be effective internal controls implemented. The company must not only act ethically in their business decisions but should be financially responsible. If the company takes these three simple steps and implements the four factors of management: planning, organizing, leading and controlling it will gain the confidence of its shareholders. It is evident that this company needs to re-commit themselves to their mission and the well being of their customers by practicing ethical and transparent business rules that will benefit the companys overall goal. Doing so will rolling order to tenet strategic, tactical, operational Ana contingency planning wanly will ultimately bring success to the company. In closing, despite Hallucinations policies regarding ethical and corporate social responsibility standards, the company must re-commit themselves to the four factors of management. Their commitment to the oil and gas business should be one without greed. Instead, it should be one that looks out for everyone involved by acting ethically correct.