Management Planning - Research Paper Example

?Planning Function of Management Before going to evaluate the planning function of management, let us get a better understanding of what planning actually is. Planning is one of the core functions of management. “Planning involves selecting company goals and department objectives, then finding ways of implementing them” (Hahn, 2011). Proper planning by the managers provides a number of benefits to their organizations, such as, avoidance of confusions, reduction of risks, improved production services, completion of tasks within deadlines, and correct use of all available resources. Let us discuss planning function of management in some detail in order to know the role that it plays in the success of an organization. Selected Organization The organization whose planning function we are going to evaluate is Halliburton. Halliburton is a provider of different products and services to the energy sector of different countries. Some of the main activities of this company include managing geological data, locating hydrocarbons, construction of the wells, drilling, and managing lifecycle of the reservoirs. Planning For the managers at Halliburton, planning holds great importance in all processes of management. At Halliburton, planning means to recognize organizational goals and to develop proper strategies to meet those goals. Planning not only includes setting goals for the future but also includes development of tactics and strategies to meet those goals. Managers at Halliburton firmly believe that they cannot achieve desired goals without planning. For proper planning, managers consider many factors, such as, availability of resources, assessment of organizational environment, future trends of the oil and gas industry, assessment of industrial demands, and proper use of capital. At Halliburton, there are many kinds of planning which managers do for the success of the organization. Some of those types of planning include marketing planning, construction planning, production planning, event planning, and project planning. Marketing planning means to develop suitable strategies for the marketing of the company’s products and services. For marketing planning, managers working at Halliburton consider 4Ps of the marketing mix to develop a proper marketing plan. For construction planning, managers consider different aspects of a project to develop a plan for that project. Some of the major aspects, which managers consider, include site of the project, needs of the client firm, geological survey, and feasibility of the project. Production managers also do proper planning to enhance production services, such as, pipeline process services, well intervention services, and oil and gas production services. For project planning, managers consider nature of the project, availability of the resources required to complete the project, due date of the project, and effective use of human resource and technology to meet the targets. Tatum (2011) states, “Like any type of business planning, project planning is about gaining the most benefit while making the wisest use of available resources”. Influence of Legal Issues, Ethics, and CSR on Planning There are many factors, which put a deep impact on the planning function of an organization. In case of Halliburton, some of the main factors, which influence the planning function of Halliburton, include legal issues, ethics, and corporate social responsibility. Let us discuss the impact of each of these three factors on the planning function of management at Halliburton. Legal Issues Legal issues are those issues, which revolve around a business’s policies, planning, and structure. “Business managers and owners must at all times be prepared to spend some time around legal issues that may arise” (Beck, 2011). Analyzing legal issues related to different business processes and policies is very critical for a company’s success. Managers at Halliburton focus towards all sorts of legal issues while doing any kind of business planning in order to ensure effective planning regarding all business processes. Let us take an example in which legal issues affected the planning function of Halliburton and made the managers abide by the Title VII of the Civil Rights Act 1964. Halliburton was about to be sued because the HR managers did racial discrimination during the process of recruitment in 1993. To avoid disgrace, Halliburton settled the issue out of the court by canceling all selections of that year and carrying out the recruitment process in accordance with the guidelines of the Civil Rights Act. Ethics Ethics are the moral principles and values which the managers of a company need to incorporate in their activities because they put a deep impact on the planning function. At Halliburton, ethics play a great role in making the managers do planning based on a specific set of principles and values. For example, all managers are required to abide by morals, policies, and procedures while taking any action regarding the company’s matters. Corporate Social Responsibility Corporate social responsibility refers to the actions, which put a positive impact on the society. In order to create a good image of the company, managers need to incorporate corporate social responsibility in the planning function of management. For example, Halliburton takes care of the environment while carrying out the project related activities. Moreover, Halliburton also provides funding for green environment programs and for the disabled students’ schools located in Houston. Factors That Influence Halliburton’s Planning In order to analyze three factors that influence Halliburton’s strategic, tactical, operational, and contingency planning, let us get a better understanding of what these planning structures actually are. Strategic planning focuses on the development of strategies to meet the organizational goals. Tactical planning is the process of making short-term plans to implement any specific strategy. Operational planning refers to the development of short detailed plans to perform major business operations. Contingency planning is the type planning which is done for unforeseen events or emergencies. Technology, employee effectiveness, and legal issues are such factors, which have the tendency to influence Halliburton’s planning function. Technology plays a vital role in the completion of projects within deadline. In case of technological failure, all of the above-mentioned planning structures are affected. Similarly, employee effectiveness is also very important for the completion of projects. For example, in the processes of locating hydrocarbons and construction of wells, employee effectiveness really matters to make the planning regarding these activities effective. Moreover, legal issues also influence Halliburton’s planning functions. The company operates its activities in more than 75 countries and different types of legal issues regarding company’s activities in all those countries sometimes affect the planning structures. References Beck, S. (2011). Management Planning. Retrieved from http://www.educatedtopics.com/art/management-planning.html Hahn, M. (2011). The Function of Planning in Management. Retrieved from http://ezinearticles.com/?The-Function-of-Planning-in-Management&id=5751611 Tatum, M. (2011). What Is Project Planning?. Retrieved from http://www.wisegeek.com/what-is-project-planning.htm Read More