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Management Planning - Research Paper Example

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Summary
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”…
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Management Planning Paper
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"Management Planning"

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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 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 ...Download file to see next pagesRead More
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