Premium Essay

Factors Impacting Business Management

In: Business and Management

Submitted By mestrejose22
Words 254
Pages 2
Halliburton is one of the chief oilfield service businesses in the world. The organization primarily serves the upstream oil and gas industry with an all-inclusive range of services, from the place of hydrocarbons to the construction of oil and gas. Services offered by the organization include furnishing production optimization fluid services, oilfield drilling software, drilling valuation, and therapy. The business combines tried-and-true well drilling and optimization proficiencies with high-tech investigation and modelling software and services (About Us, 2010). From the time of its inception, it works in conventional oilfields from the North Sea to the Middle East in addition to more novel sites in Southeast Asia and Africa. The business has made numerous efforts in different directions for managing their position in the industry and divestment of its KBR military and engineering contracts division is part of its efforts. The Halliburton took KBR public in 2006 by extending a 20% stake in an IPO and afterwards divested the rest, cutting all connects with the company in 2007. ...

... middle of paper ...

...s Cited

About Us. (2010). Retrieved from: http://www.halliburton.com/AboutUs/default.aspx?navid=907&pageid=2560 Ethics at Halliburton & KBR. (2010). Retrieved from: http://www.ethicsinbusiness.net/case-studies/halliburton-kbr/ Montana, P.J. & Charnov, B.H. (2000). Management (3rd Ed.). Barron's Educational Series. Sadler, P., Ryall, M.J. & Craig, J.C. (2003). Strategic Management (2nd Ed.). Kogan Page Publishers. Phinney, D. (2004). Halliburton Hit with Multiple Lawsuits. Retrieved from:…...

Similar Documents

Free Essay

External Environmental Factors Impacting Lithuanian Businesses

...2010 m. December 3 d. External Environmental Factors Impacting Lithuanian Businesses Introduction First of all, it is very important to mention that every business has its own external factors, that indicate whether the business is going to succeed or not. Then, it is up to the business if they try to study carefully or not these external factors. By doing so, they will try to understand what the social, legal, political, technological factors are, and how they impact the market and their products. These factors have significant impacts into the challenges of the businesses in any country in the world. In fact, forces in the external environment are so dynamic and interactive that the impact of one factor cannot be disassociated from the impact of other elements. My paper will analyze how three chosen factors will stimulate the businesses in Lithuania, based on empirical researches done and then in the end, it will give recommendation upon those factors. The three elements that I have chosen to analyze are: social, competitive and technological. Factors In order to find out how these factors influence the business life in Lithuania, then a good source for that is: Enterprise Surveys. The enterprise surveys focus on the many factors that shape the business environment. These factors can be both external and internal ones. As it is mentioned already above in the introduction these factors can be accommodating or constraining for firms and play a key role, in deciding...

Words: 1442 - Pages: 6

Premium Essay

Project Management Success Factors

...The Optimal Reference Book: Project Management Success Factors Extraordinary insight™ into today’s education information topics Table of Contents Why 70% of Government IT Projects Fail, Quality Project Management for Education Agencies .............................................................................................. 5 About the Author.................................................................................................... 8 Foreword................................................................................................................. 9 Selecting the Right Vendor to Manage Your Project .............................................. 11 Project Governance........................................................................................... 13 Project Risk ....................................................................................................... 14 Issue Management............................................................................................ 14 Education Agency Uniqueness .......................................................................... 14 Unfunded Mandates and Local Control............................................................. 15 ESP’s Quality Project Management (QPM) for Education Agencies ......................... 16 QPM Overview.................................................................................................. 16 QPM Principles...............................................

Words: 28042 - Pages: 113

Premium Essay

Internal and External Factors on Management

...Internal and External Factors on Management Functions MGT/230 Internal and External Factors on Management Functions The four functions of management are generally described in this order; 1. Planning 2. Organizing 3. Leading 4. Controlling These functions are affected by factors from inside an organization as well as outside of the organization (Bateman, 2011). Some of these external factors include globalization, competitors, suppliers, technology, customers, the government, and economic conditions. Factors inside a company can be production issues, personnel problems, finances, ethics, lack of innovation, and cultural diversity can be either internal or external (Bateman, 2011). The corporate model that Google has demonstrated in the modern era is one that is worth further study. Google’s management style starts with strong leadership and their record of innovation is certainly one of their strengths. Examination of these factors and how they can affect the functions of management will be explored in this paper. The first function of management is planning. When the management of Google was ready to begin planning this meant that they were fully aware of their overall objective. An internal factor to Google was their strength of really understanding their objective because they were internet users and understood how convenient a web-based search engine would be successful. External factor of planning was this opportunity to create Google......

Words: 1039 - Pages: 5

Premium Essay

External and Internal Management Factors

...External / Internal Factors Paper Globalization In today's world of technology, Google has been at the forefront in developing the world system. As companies strive to engage in creating new ways to acquire information at a faster pace, Google has been there every step of the way. Google has allowed a diverse group of international companies to advertise their information products services to anyone in the world at the touch of a button. As the rate of globalization gains speed, Google seems to make the world just a little bit smaller. With factories in China and buyers in many countries it is easy for people to survey different products and services that may circle the globe by using Google. The way Google allows people to surf the Internet and view information has changed the way international communities do business. The four functions of management have been used by Google’s management. Planning and organizing structures in all of their business offices create a business model for others to examine, as well as proven success in leading and controlling their many internal issues. Planning and organizing, leading and controlling can be seen by every person who uses the Internet. Whenever logged onto Google their services are well-organized and give the user a massive amount of control to obtain access on just about any type of information possible. As managers and employees and companies around the world do business, it's easy to see that in any form of......

Words: 1500 - Pages: 6

Premium Essay

External and Internal Factors of Management

...major four functions of management involve planning, controlling, organizing and leading. These functions can be affected by the internal and external factors n a business environment. The external forces that affect the functions of a business include sociological, political, economical and technological Sociological: Includes; the demographic status and trends, work ethics and personal values, and general cultures. This factors influences differently on how management accomplishes its jobs. The social environment presented by each country is unique and as the business becomes international, management s ought to understand these unique environments. This understanding assists the management to plan for the future and design products for particular groups of people. Economic and political: Includes; all the essential factor such as competitors, suppliers and customers in an open model of business the management must study the economy and political environment for a continual and dynamic relationship. In this system the management assumes that the business or company has both input and output. By studying the companies’ suppliers’, competitors and customers as well as current political factors, the management are capable of making effective managerial and decisions. The products designed under this should posses place, form and time utility to succeed in the mark place. Technology: Technology has the most dramatic effect on business as changes in......

Words: 361 - Pages: 2

Premium Essay

The Critical Success Factors of of Business Process Management a Critical Analysis

...A CRITICAL ANALYSIS OF THE ARTICLE “THE CRITICAL SUCCESS FACTORS OF BUSINESS PROCESS MANAGEMENT” WRITTEN BY TRKMAN (2010) COHORT 5 (BSS001-6) TABLE OF CONTENTS Pg 1. Executive summary……………………………………………………….......3 2. Introduction……………………………………………………………….…....4 3. Importance of the Study……………………………………………………....5 * BPMs relevance & Importance to Information Systems……………...5 4. Research problems and significance………………………………….........6 5. Contributions and originality……………………………………………...….7 6. Theoretical arguments………………………………………………………..8 *The Contingency Theory……………………………………………...….8 * Dynamic Capabilities Theory:……………………………………..…….9 *Task Technology Fit………………………………………………..….….9 7. Research methods ……………………………………………………..….....9 *An outline of the methods used for the research study……..…......…9 *Description of methods…………………………………………….......10 *Analysing the Methods suitability for the study………………………10 8. Key Findings of the study ………………………………………………..…12 9. Research Limitations ……………………………………………………….13 10. Suggestions for future research……………………………………….….14 11. Conclusion…………………………………………………………………...15 12. References…………………………………………………………………..16 13. Appendix* EXECUTIVE SUMMARY According to Zairi’s (1997) definition,......

Words: 5045 - Pages: 21

Free Essay

Describe How Political, Legal and Social Factors Are Impacting Upon the Business Activities of the Selected Organisation and Their Stakeholders

...Level 3 Unit 1-P6 Describe how political, legal and social factors are impacting upon the business activities of the selected organisation and their stakeholders Political impacts Political stability is usually defined as the state of peace that is normal experienced in a country from the activities from the government and also the government in this situation will make decisions and keeping the best interests in mind for people. The conservative party that is normally referred as the Tory party and is a centre – right political party in the UK and as of 2013 it has become the largest political party in the UK and also the largest single party in the house of commons with 303 MP’s. Got initiatives: is when the Government can support business through grants and tax reductions and an example of this is the solar panels grant. Also when the government chooses to Investment finance this then involves selling part of your business (‘shares’) to an investor. The investor will then take a share of any profits or losses that the company makes. The International Monetary Fund describes itself as “an organization of 188 countries that works to foster global monetary cooperation, to then secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduces poverty around the world. The Government may change the tax rates up or down this will be to try help boost the economy, an example of this is VAT this means all non......

Words: 863 - Pages: 4

Premium Essay

External and Internal Factors in Management

...e major four functions of management involve planning, controlling, organizing and leading. These functions can be affected by the internal and external factors n a business environment. The external forces that affect the functions of a business include sociological, political, economical and technological (Montana & Charnov, 2000) External factors: Sociological: Includes; the demographic status and trends, work ethics and personal values, and general cultures. (pg, 566.) This factors influences differently on how management accomplishes its jobs. The social environment presented by each country is unique and as the business becomes international, management s ought to understand these unique environments. This understanding assists the management to plan for the future and design products for particular groups of people Economic and political: Includes; all the essential factor such as competitors, suppliers and customers in an open model of business the management must study the economy and political environment for a continual and dynamic relationship. In this system the management assumes that the business or company has both input and output. By studying the companies’ suppliers’, competitors and customers as well as current political factors, the management are capable of making effective managerial and decisions. The products designed under this should posses place, form and time utility to succeed in the mark place. Technology: Technology has the most......

Words: 583 - Pages: 3

Premium Essay

Business Management

...Management Planning for Tyco International, Inc By Robin Hoopes Takeaways managment planning Tyco International Tyco International's management planning affects every aspect of the business from employees to community. Management planning includes identifying what goals the company wants to accomplish. Legal issues and ethics also effect management. Many influences, external as well as internal, also affect the way Tyco does business. Applying Tyco's strategic, tactical, operational and contingency plans will help manage these outside and inside influences without disrupting the ongoing success of the business. Function of Management Tyco believes that governance, customers, growth, teamwork, operational excellence and financial strength will aid them in the success of the company. Governance will provide the company to put in place practices that encourage employees to ensure that the integrity of the company shows in the work and the distribution of the products (Tyco). Policies need to be put in place for employees that will tell exactly what is expected of them to maintain the image of the company. Without governance the company would not be able to make a clear statement to each of the employees about what is expected of them. Employees knowing what is expected of them will ensure the future success of the company. Tyco understands what the customer's wants and needs are. By providing their wants and needs and giving them the performance they expect will give...

Words: 1427 - Pages: 6

Free Essay

P6- Describe How Political, Legal and Social Factors Are Impacting Upon the Business Activities of the Selected Organisation and Their Stake Holders

...situation will make decisions and keeping best interests in mind for people. Government initiatives are when the government can support business through grants and tax reductions. The government have their own initiatives for companies like Asda and these are the health eating and fit for life. These are campaigns that Asda will try to support then try to receive more funding from the government for advertising etc. Also when the government chooses investment finance this then involves selling part of your business shares to an investor. The investor will then take a share of any profits or losses Asda make. The government may change the tax rates up or down in an effort to try an boost the economy. An example of this is VAT which means all non-food will need their labels changing which could potentially increase profitability. `The international monetary fund describes itself as ‘an organisation of 188 countries that works to foster global monetary cooperation. It also works to secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Legal Impacts The legal impacts are that Asda must follow the law. The legal frameworks is where the business chooses the way it operates. This will determine who has what role and share to the business. It will also determine relationships between investors and employees etc. Consumer protection is when a group of laws and......

Words: 772 - Pages: 4

Premium Essay

External and Internal Factors Impacting Compensation

...| Internals and externals factors impact on compensation | Bus assignment # 1 | idiane1000 11/8/2009 | Contents Introduction 2 Internal factors affecting the best buy co Inc new compensation strategy 2 Best buy financial capital affect on compensation 2 Internal structure affect on compensation: 3 Employees’ acceptance of the new compensation 3 External factors affecting BEST BUY CO INC. compensation strategy 6 Economy factor on compensations: 6 Legal compliance on the compensation strategy: 6 Competitors impact on compensations strategy 6 Best buy summary 8 Conclusion 9 Figures: Median salary by job..…………………………………………………………………5 Median bonus by job…………………………………………………………………...6 Average weekly vacation by years experience…………………………………………6 Introduction With so many changes within the industry best buy the number one electronic retailer decided to implements new compensation strategy within their organization to gain competitive advantage against their competitors. An organization employing over 170,000 employees within the US will have hard time developing a compensation strategy for every employee. Therefore the organization decided to focus on its retail store managers. Data reveals that best buy Inc is employing little of two thousands retail store manager. The organizations is developing new compensation strategy so that they will be expose......

Words: 1988 - Pages: 8

Premium Essay

Describe How Political, Legal and Social Factors Are Impacting Upon the Business Activities of the Selected Organisations and Their Stakeholders

...P6 - Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders All businesses and corporations will face external factors that impact the business activities and stakeholders of a business. These factors of changes can be political, legal, and social within the business environment. Politics is a process by which groups of people make collective decisions. These decisions can affect businesses as well as the working economy. For example, a new legislation or a regulatory change of policies from the government will affect business activities. Social factors relate to changes in the behaviour, tastes and lifestyles of communities on a local, national and international scale. In a business, it is important for the marketing department to take account of the various social characteristics of the consumer groups for their target market. Legal factors relate to the laws, regulations and legislations which affect the way a business functions. For example, common law for business balance prohibits paying a little and getting a lot. I will describe how political, social factors impact upon Tesco and Bank of China. Political factors of Tesco Tesco have political factors that affect their business activities. For example, political stability for the national economy in this case the government such as the government make decisions in the best interests of the people and should support businesses....

Words: 1839 - Pages: 8

Premium Essay

Business and Management Business and Management Business and Management Business and Management Business and Management

...Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and management Business and......

Words: 321 - Pages: 2

Premium Essay

Critically Analyse the Article for the Meaning of Strategic Human Resource Management and Identify the Factors Impacting on Strategic Human Resource Management in Contemporary Organisations.

...strategic human resource management and identify the factors impacting on strategic human resource management in contemporary organisations. Before an argument can be put in place about whether human resource management (HRM) can be strategic, we need to be aware that human resources (HR) is more then maintaining personal functions. Corporate and economic developments since the 1950Ў¦s have dictated that businesses, to remain competitive, need to view HRM as an evolutionary process which combines the HR functions with the HR policies and strategies, with the business strategies and management teams, with all stakeholders (Unions and Governments) and with the organisation and understanding of the actual employees themselves. Strategic HRM is about aligning the abilities and desires of the employee with the needs of the business so that the corporate objectives can be met. HRM can no longer afford to be viewed as simply an administrative task. Corporations need to have ЎҐproactiveЎ¦ policies to attract and retain the right type of people to their business and in this ever changing and uncertain economic climate the management of employees takes on an even greater role. Using the VIRO (value, rareness, imitability, and organisation) human resources can be proven to be strategic and therefore, provide firms with a competitive advantage through its people. The article by Barney and Wright (On becoming a strategic partner: The role of human resource management in gaining......

Words: 5511 - Pages: 23

Premium Essay

Internal External Factors of Management

...organization are those factors outside the company that affect the company's ability to function. Some external elements can be manipulated by company marketing, while others require the organization to make adjustments. Monitor the basic components of company's external environment, and keep a close watch at all times. Customers customers are among the external elements you can attempt to influence, via marketing and strategic release of corporate information. But ultimately, your relationship with company’s clients is based on finding ways to influence them to purchase company’s products. Market research is used to determine the effectiveness of company’s marketing messages, and to decide what changes can be made to future marketing programs to improve sales. Government Government regulations in product development, packaging and shipping play a significant role in the cost of doing business and company’s ability to expand into new markets. If the government places new regulations on how you must package company’s product for shipment, that can increase company’s unit costs and affect company’s profit margins. International laws create processes that company’s company must follow to get your product into foreign markets. Economy As with the majority of the elements of your organization's external environment, your company must be efficient at monitoring the economy and learning how to react to it, rather than trying to manipulate it. Economic factors affect how you......

Words: 1717 - Pages: 7