...Halliburton Janet Mitchell MGT/330 March 8, 2010 Halliburton In 1919, Halliburton was founded by Earle P. Halliburton and is known as one of the world’s largest providers of services and products in the oil and gas industry. Halliburton has many services from locating hydrocarbons, managing geological data, drilling and formation evaluations, to well construction and completion. There are two divisions that make up Halliburton. They are: Drilling and Evaluating and Completion and Production. These two divisions accounted for 18 billion dollars in revenue in 2008. Halliburton employees more than 50,000 people in approximately 70 countries and offer two major business segments. The Energy Services Group provides the technical products and services for fuel exploration and production, and (KBR) Kellogg Brown & Root, Inc. KBR is a construction company that has refineries, pipelines and chemical plants. This paper will cover the various methods of Halliburton’s planning functions of management, legal issues, ethics, and corporate social responsibility. The paper will also explain three factors that influence Halliburton’s strategic, tactical, operational, and contingency planning. Planning Functions of Management As planning is an important function of management, it allows an organization to achieve its maximum potential. The planning function is a methodical approach for taking the goal and turning them into plans and strategies. An example of a planning...
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...Halliburton Duncan, Oklahoma, in1919 a man by the name of Erle P. Halliburton had borrowed a wagon, some mules, and a pump. Building a mixing box out of wood Erle started an oil well cementing business. Halliburton became one of the biggest suppliers of products and services to the energy industry. The company employs more than 70,000 people and is in at least 80 countries. Halliburton attends the upstream oil and gas industry throughout a lifecycle of the reservoir. Halliburton has two divisions. The first is the Drilling and Evaluation, and the second is the Completion of Production; As of December 31, 2011 between these two divisions accounted for roughly 25.0 billion dollars in Revenue: 58% was in North America and the other 42% was International. In looking at the planning function of management, acquiring experience as a global organization Halliburton adjusts their many departments to the economic area that they are in. Halliburton has an office for each location that they are in. Houston, Texas, was the home of Halliburton’s main office, until they relocated their headquarters to Dubai, a Middle Eastern country. Halliburton every year holds annual planning proceedings for correcting Service Quality and HSE. PII (Performance Improvement Initiative) became about n 1997 and aids to safeguard administrative position, “The PII includes a review of past performance, and assessment of currently available tools, and the development of objectives and strategies for continuous...
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...Planning - Halliburton Halliburton was founded in 1919 by Erle P. Halliburton and is currently “one of the world’s largest provider of products and services to the oil and gas industry” (Halliburton, 2010). Halliburton’s began with one man, borrowed supplies and a homemade mixing box is now an employer of over 50,000 people and has a presence in approximately 70 countries (Halliburton, 2010). Halliburton established its first research and testing laboratories and then set their sights on the international market. In 1926 Halliburton sold 5 cement mixing units in Burma and started their global arm of business. “Today, Halliburton offers the world’s broadest array of products, service and integrated solutions for oil and gas exploration, development and production” (Halliburton, 2010). In 2006 and 2007 Halliburton realigned its operations and divided them into two, Completion and Production, and Drilling and Evaluation, accounting for over 14 billion dollars in revenue for the company (Halliburton, 2010). The Drilling and Evaluation department is in charge of the drilling, evaluating, field and reservoir modeling and well-bore placement solutions for its customers. While the Completion and Production department managers the cementing, pressure control, pipeline and process services and completion services (Halliburton, 2010). Planning is an important function of management that helped Halliburton identify and achieve many ground breaking goals. Once Halliburton set a goal...
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...Engineering & Construction, is a unit of the Halliburton Company which provides military support services. KBR IS a leading global engineering, construction and services company and the world’s largest government defense services provider. Its mission is to provide on-demand support services to the U.S. Department of Defense across the full military mission cycle, from contingency logistics and field support to operations and maintenance on military bases. Formerly known as Brown and Root Services, KBR was scrutinized in 2000 by the GAO for overcharging and providing unnecessary services in the Balkans. ▪ Balkans Support Contract is the largest contract for services to U. S. forces, representing about $2 billion in contract costs spent in the Balkans since December 1995.Brown & Root's open-ended logistics contracts from the Army and Navy --indeed much of the military privatization campaign -- are grounded in a 1992 study the company did for the Defense Department that several analysts said formed the template for privatization of logistics for a downsized U.S. military. Soon after the company delivered the classified study, which reportedly concluded that the Pentagon could save hundreds of billions of dollars by outsourcing, Brown & Root won its first competitively bid logistics contract. Vice President Dick Cheney was defense secretary when the first Brown & Root study was done, and he became chief executive of its parent company, Halliburton, when he retired.KBR has become more...
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...corruption. Congress asserted the RIO contract was awarded without competition because Dick Cheney is the former CEO of KBR's parent, Halliburton. Moreover, a March 17 2003 Wall Street Journal article reported that most of the firms chosen by the government to bid on Iraq reconstruction contracts have extensive ties to the Republican Party. These firms "made political contributions of a combined $2.8 million between 1999 and 2002, more than two-thirds of which went to Republicans," reported the Wall Street Journal. The Bush administration continues to refuse requests from Congress to make the contracts public, citing national security concerns. Under normal circumstances, the Army Corps of Engineers is required to allow a number of companies to compete for Army contracts. But, as the Army explained, in times of emergency, when national security is involved, the government is allowed to bypass normal procedures and award contracts to a single company, without competition. The Army claimed the contract was awarded without competition because of a "national emergency" created by the pending war with Iraq. So, while President Bush spent months before the war wrangling with United Nations inspectors and calling for international support for an invasion, the Army somehow found it had little time for competitive bidding on the RIO contract. Halliburton defended the Army's no-bid policy: "We are the only company in the United States that had the kind of systems in place, people in...
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...Ethics Case Halliburton Plc. & Washington Inc.: The Power of Politics in Corporate Business Success As a general rule, correcting market failures is best left to the government. Businesses cannot be trusted to get it right, partly because they lack the wherewithal to frame intelligent policy in these areas.[i] Free-market economist Adam Smith (1723-1790) states that if self-interested people are left alone to seek their own economic advantage, the result, unintended by any one of them, will be greater advantage for all. He maintains that government interference is not necessary to protect the general welfare.[ii] MBA 8111 Business, Government, and Society Introduction Governments have become the black box for corporate business success around the world. This paper will discuss the close relationship between business and government, using Halliburton as main examples throughout the case. Halliburton has often been perceived negatively by the public and has become a favorite target by Democrats for critics about conflicts of interest, undue corporate influence, hidden motives, accounting fraud, bribery, bilking the government, tax evasion, and trading with rogue nations.[iii] Its name has become synonymous with political cronyism.[iv] The current U.S. Vice-President Dick Cheney, who previously held the CEO of Halliburton from 1995 to 2000, is criticized to facilitate the government contracts to be available to the company even though he...
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...Halliburton A question of accounting policy and auditing responsibility I. Halliburton’s background After being founded in 1919, Halliburton has asserted its dominance over the oilfield services industry. It is one of the world’s largest providers of such products and services, and the company employs over 75,000 people. Its presence in the international market is supported by its locations in 80 countries and diverse workforce from 140 nationalities. Halliburton has one of the world’s largest selections of oilfield products and services due to its massive corporate size and healthy portfolio of subsidiary holding, construction, oilfield, and many other companies (Halliburton). Accountants at Halliburton have dealt with a plethora of judgment calls regarding how exactly to record transactional events. Issues like job order costing, prepaid assets, subcontracting, and future economic benefits from land only begin the list. Difficulties in accounting are inherent in massive conglomerate corporations with unprecedented situations. What executives may have overlooked is the importance of stringent and professional accounting. Not only are Halliburton’s financial statements relied upon by investors, but also the SEC and a number of other interested parties. II. Scandal From 1946 to 2002, the auditing firm Arthur Andersen, LLP provided a variety of attestation and consultation services to Halliburton. A major duty of Arthur Andersen was to audit published financial...
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...Halliburton Halliburton is one of the largest oilfield service companies in the world. Halliburton was found in 1919 and is one of world’s largest providers of products and services to the oil and gas industry (Halliburton, 2010). Haliburton employees over 500,000 people in almost 70 countries (Halliburton, 2010). The services offered by the company include the furnishing of production optimization, drilling, fluid services, drilling valuation and oilfield drilling software and counseling (Halliburton, 2010). The company has tested drilling procedures and practices as well as high-tech investigative and modeling software (Halliburton, 2010). Evaluation of Planning Function of Management Planning is one of the four functions of management, which includes organizing, leading and controlling. Planning is to identify where one wants to go a, why he or she chooses to go there, how he or she will get there and what is required to accomplish it. Planning is looking ahead and deciding what future courses of action can be accomplished. This is the beginning step for any company in its business operations. Therefore, it is the same with Halliburton, one of the world’s largest companies. This company is as large that to be as successful as it is, one knows that its planning has to be effective. This company’s management knows that planning for such a large scale and so diversified that it must make sure its systems activity knows when, how and whom is going to carry out the...
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...Management Planning MGT/330 January 25, 2012 Management Planning Over the last few decades, managers of businesses large and small have been applying formal planning techniques to set forth long and short - term goals for their companies. Managers also prepare the company to respond to known and unknown circumstances that may occur in the future. Planning is a deliberate and methodical decision process pointed at setting goals for the purpose of advancing business. This function is controlled by managers at all levels who draw on the intelligence and expertise of the employees and delegate assignments accordingly. To be done well, the six steps of the basic planning process must be implemented in the planning function of management. This basic planning process is a critical function that involves an analysis or overview of the situation at hand. A review of any alternative goals and plans that can be used along with the evaluation of goals and plans, selection of which goals and plans will be used, implementation of the plans and goals, and establishing control systems to monitor the progression of the goals and plans (Bateman & Snell, 2009). The executive management team made up of the Chief Executive Officer, the Chief Financial Officer, the Chief Operating Officer, and sometimes, a Chief Intelligence Officer is referred to as the strategic managers that are responsible for strategic planning of the organization’s long-term goals and strategies...
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...Over $146 billion was awarded for contracts under in Fiscal Year 2011 (Preweb, 20012). Since the beginning of Fiscal Year 2012 (October 2011), over 12% of government contracts were awarded for Professional, Scientific and Technical Services, second only to Electronics, Computer and Transportation Equipment Manufacturing. “With the Obama Administration's push for agencies to adopt cloud computing, provide more transparency to tax payers and allow more federal employees to engage in telework, IT government contractors in particular should expect significant growth during 2012” (PreWeb). The aforementioned programs support the American Recovery and Reinvestment Act of 2009 which made billions available in government spending available to assist in the economic turnaround. As the government spend billions of additional dollars into the economy, there are numerous firms that has and continue to conduct business with the Federal government. The firm that will be discussed in this paper is Kellogg, Brown and Root Inc (KBR). This paper will highlight the company, what it does and the amount of business it does with the federal government. It will further discuss required actions that enable KBR to be able to participate in federal government contracting process actions and finally it will discuss the required actions that enable KBR to be able to participate in federal government contracting process actions. What that means for potential contractors is numerous opportunities...
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... HALLIBURTON HALLIBURTON ENERGY SERVICES Introduction In 1919, Halliburton one of America / World’s largest providers of products and services to the oil and gas industry changed the nation. Halliburton employs over 65,000 people, and represents 140 nationalities in over 80 countries. Establishing extraordinary foreign relationships and qualities in the global sector, Halliburton growth in foreign culture exceeded all expectations. Halliburton innovative focus and expansions place Haliburton in position to increase profit and demand worldwide. Founder Erie P. Halliburton barrowed a wagon, mules, pump and built a wooden mixing box to start his very own oil well cementing business in Duncan, Oklahoma. In 1930 Halliburton took off, opening other services related in the oil & gas industry taking the company to new heights with offshore cementing and rigs in the Gulf of Mexico. Steps toward becoming worldwide in 1926 resulted in the sales of oil equipment to English companies in Burman, Alberta, Canada, Eastern Hemisphere operations and later Venezuela in 1940. By 1946, the company – using its innovative technology – had expanded into Colombia, Ecuador, Peru and the Middle East and began performing services for the Arabian-American Oil Company, the forerunner of Saudi Aramco. In 1951, Halliburton made its first appearance in Europe as Halliburton Italiana SpA., a wholly owned subsidiary in Italy. In the next seven years, Halliburton launched Halliburton Company...
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...Halliburton Regardless of the industry, companies invest heavily to create a picture perfect image that shows ideals, goals, and the best intentions for their target audience. Public relations (PR) have become a powerful tool that helps organizations distribute their message to the masses. Halliburton, a company dedicated to providing services to the energy industry, is one of the many companies that use PR to connect with their target audience. Although a great deal of creativity, effort, and other resources go into a website, the synergy it creates with other events, and its intent, the outcome of the message is not always the desired one. When disasters strike and the media magnify them, it takes a great deal of PR to restore a company’s image. This document will review Halliburton’s existing public relations strategies. It will also review alternative campaigns that will help them maneuver corporate citizenship and crisis management. Current PR Issues After carefully analyzing Halliburton’s website, its services, achievements, and plans, there is no doubt the company fiercely strives for high standards and settles for nothing but success. The company’s target audience is any organization in the services industry that requires drilling on the ground or underwater, and such. Recent press releases also show the company’s effort in creating jobs and thus promote their goodwill intentions. An interesting segment of Halliburton’s website segments ambitious plans...
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...Halliburton: Monica Burnside In 1998, Halliburton decided to acquire their rival energy service company, Dresser Industries, Inc. Once the two companies merged, Halliburton issued 176 million new shares of the company’s common stock to Dresser shareholders. By issuing the new shares, Halliburton increased their outstanding common shares from 263 million to 439 million. (Halliburton, 1998) “Combined revenues for 1997 were $16.3 billion and net income was $772 million ($1.77 per share diluted). For the first six months of 1998 revenues were $8.8 billion and net income was $447 million ($1.01 per share diluted). At June 30, 1998 the combined company had shareholders equity of $4.6 billion and long-term debt of $1.3 billion. Halliburton's June 30, 1998 engineering and construction backlog was $11.3 billion. The company expects to recognize a 1998 third quarter one-time pretax charge of approximately $900 million to provide for consolidation, restructuring and merger related expenses. Additional merger related expenses will be incurred in the future which does not qualify for the one-time charge” (Halliburton, 1998). The CEO of Halliburton in 1998, Dick Chaney, decided to merge the two companies to focus on long-term benefits for the company. The company decided that by merging the two companies they would benefit the company’s stakeholders. The merger was supposed to increase operating income and lower the structure cost. Halliburton made $195 million in the...
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...Halliburton the Energy Giant Warrick L. Farr MGT-330 09-01-2011 Professor Alice Nworah Halliburton the Energy Giant Halliburton has proven that it wants to stay in business for many years. Since the inception of the company in 1919, Halliburton has spent billions on new technologies. According to Halliburton (2011), “in 2009, Halliburton spent approximately 349 million dollars on technology research and development. The result from this technology granted Halliburton with 219 patents in 2009 alone. Halliburton currently has technology centers located in Belgium, Canada, Singapore, United States, and the United Kingdom. According to (2011), “Halliburton recently opened a new technology center in April 2011, at the Federal University of Rio De Janeiro. Innovation is what sets Halliburton apart from its competitors”. This center will provide solutions that they can implement to accelerate deepwater field development and continue enhancing production from the mature oil fields. Management has also paved the way to introduce these new technologies into the college campus in Houston, Texas. Halliburton has established a program named Camp Red, which is an elective course at the University of Houston. This course is worth three credit hours to primarily senior level engineering technology students. This program is comprised of a five day camp of 23 students and three professors. The week included projects that challenged the student’s technical and creative skills...
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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...
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