The Law Enforcement Must Be Allowed Phi Without The...

Introduction: We are all aware that our medical information is available to ourselves as the patient and to any physicians we may see in the course of our medical treatment, but do we realize who else has access to our records without our knowledge or permission? I decided to write about release of information after I had a notification at work that I could not look at my own records after notifying HIM there was a coding error. This paper is not meant to be all encompassing but will include the reasons Law enforcement might be allowed PHI without the patient’s knowledge or consent. Discussion What are the Federal laws governing your medical records? On March 26, 2013, HHS adopted a HIPAA final rule that included the Privacy Rule or Standards for Privacy of Individually Identifiable Health Information as it is formally known. The law prevents the disclosure of protected health information or PHI unless you or your representative authorize it in writing or as required by law. Covered entities, health plans and their business associates and health clearinghouses are covered by this law. Health care providers include physicians, dentists, psychologists, clinics, pharmacies, nursing homes, and chiropractors who transmit PHI in electronic form for any transaction for which HHS has a standard. Health plans include: HMO’s, health insurance companies, company health plans and government health programs such as Medicare, Medicaid, military and veterans care plans. HealthShow MoreRelatedArticle: Performance Appraisal and Performance Management35812 Words   |  144 Pagesof their job time and does not refer to the traits, personal characteristics, or competencies of the performer. The evaluation of employee‟s performance reveals the contribution of an individual in the organization‟s objectives. People do not learn unless they are given feedback on the results of their actions. For corrective actions to take place feedback must be provided regularly and it should register both successes and failures (Biswajeet 2009). Appraisal is the evaluation of worth, quality or

Why Satisfied Customer Defect - 9193 Words

ARTICLE www.hbr.org Why Satisfied Customers Defect by Thomas O. Jones and W. Earl Sasser, Jr. Included with this full-text Harvard Business Review article: 1 Article Summary The Idea in Brief— the core idea The Idea in Practice— putting the idea to work 2 Why Satisfied Customers Defect 14 Further Reading A list of related materials, with annotations to guide further exploration of the article’s ideas and applications Product 6838 Why Satisfied Customers Defect The Idea in Brief The Idea in Practice Satisfied customers—a sure sign of your company’s success? Actually not, as Xerox Corporation discovered. Its merely s atisfied customers were six times less likely to buy again from Xerox than its totally satisfied customers. To secure†¦show more content†¦The company’s eight divisions operate in diverse markets, including light manufacturing, wholesale distribution, and consumer services. All are feeling pressure from strong competitors, and the corporation has created a customer-satisfaction survey as one method of measuring the impact of its quality-improvement process. After dispensing with several items on the agenda, the group turns to the third-quarter customer-satisfaction indices, and a transparency is placed on the overhead projector. (See the graph â€Å"Third Quarter Satisfaction Index.†) The CEO proudly points out that 82% of the customers surveyed responded with an overall satisfaction rating of either 4 (satisfied) or 5 (completely satisfied). Everyone in the meeting agrees that the company must be doing pretty well because only 18% of its customers were less than satisfied. There are three divisions with average rat- harvard business review †¢ november–december 1995 ings of 4.5 or higher. There is general consensus that they have reached the point of diminishing returns and that further investing to increase customer satisfaction will not make good financial sense. The group next examines the results of the division with the lowest average rating, a 2.7. This business unit manufactures bulk lubricants and sells to companies that repackage the product for sale to the retail channel. It is aShow MoreRelatedTotal Quality Management1287 Words   |  6 Pagesevery function and every employee in satisfying customers needs, both internal and external. TQM works by continuously improving all aspect of work through structured control, improvement and planning activities that are carried out in concern with guiding ideology that focuses on Quality and Customer Satisfaction as the top priorities. There has been many arguments that TQM succeeds only by incorporating a concern about quality for the customers throughout the organisation. The truth of thisRead More500 Furnitures995 Words   |  4 Pagesis always something that can be improved. They are never totally satisfied with the present level of quality. This commitment to the pursuit of excellence is passed down to every employee. The franchisors quality motto is Excellence and quality are not destinations; they are journeys.† maker. Quality efforts are made in all areas of the business in an attempt to achieve Zero Unsatisfied Customers. The first thing a customer notices at each franchise store is its curb appeal. The parkingRead MoreGeneral Motors’ Ignition Failure Hearing829 Words   |  3 PagesOfficer Mary Barra testified in front of a panel of senators regarding the company’s late delay in addressing a defect in ignition switches, causing cars to lose power and injuring or killing the drivers. While GM has issued a recall on cars that are known to have this defective product, the problem lies in the delay of action on the part of GM, who are accused of knowing about the defect as early as 2001. One of the many problems during the hearing is the emergence GM not only knowing about theRead MoreCase Study : 6 Sigma Manufacturing Process1419 Words   |  6 Pagesthe quality, In order to identify defects or errors. By using 6 sigma 99.9% the defect will not be there in the product. 6 sigma uses quality management and structural methods. The customer satisfaction can be increased by using this, production cycle can be reduced, reduction of waste and reducing the cost of the project. Introduction:- 6 sigma is defined as the measure of perfection from deviation and measurement of defects in the process. Mainly the 6 sigmaRead MoreCustomer Service: The Key to a Prosperous Business 1448 Words   |  6 PagesWhen it comes to providing customer service, customers want quality, assurance and their demands met. Companies have a commitment to give good customer service. GE (General Electric) is ranked one of best companies that provide excellent customer service. Their commitment, training and quality to the customers for decades is how they gotten to the top. Meanwhile, AOL is ranked as one of the worst companies that provide poor customer service. There rude deposition, unethical guidelines and disgracefulRead MoreHaier Logistics1650 Words   |  7 Pageshave to meet the individual needs of customers, we must achieve the aim of zero-defect quality, zero occupancy, and zero distance service. 2〠The formation of corporate strategy In the period of restructuring, the company s CEO Zhang Ruimin said that In the information age we should be user-centric to get customer’s satisfaction as the biggest target, otherwise corporate profits is impossible in this era the value chain is not suitable . How we can improve customer satisfaction is therefore a majorRead MoreWhy Software Testing With Real Users1099 Words   |  5 PagesWeek6 Hand in Assignment There are a number of reasons why software testing with real users views are important, even if the software is still being developed. One of the main reasons is that testing can bring value to the end product. Software testing demonstrates that defects are detected in the application that was developed. The process validates and verifies the software in order to ensure that the product meets the highest business and technical requirements that directed its design andRead MoreCase Study : Company Management For Managing The Current Situation Of Global Pharmaceutical Industry1597 Words   |  7 Pagescontinuously increasing the competitive environment, require to have a constant stream of products need to be produce as well as must have to ensure the products quality, it should be maintained in order to arrive in the range of best quality products that’s why Company is introducing a new venture to unite the decision-making of the board and require involvement of the top mana gement team, key middle managers, quality assurance team and board members, â€Å"Management for health services delivery†. A major projectRead MoreBalanced Scorecard And Malcolm Baldrige Performance Excellence Program826 Words   |  4 PagesMalcolm Baldrige Performance Excellence Program Comparison Merriam Webster defines quality as a degree of excellence, or a distinguishing attribute. Managers strive for excellence in the workplace to improve customer satisfaction, increase the output in manufacturing while minimizing defects, as well as making the company more profitable. There are several different management systems or methodologies available for businesses to use, but the Balanced Scorecard and the Malcolm Baldrige PerformanceRead MoreA Short Note On Toyota Production System ( Stp )1462 Words   |  6 Pagesbetter when they don’t have to worry about losing their job. This is why they have a no layoff police and most of the company profits are reinvested in to the company, so they will always be jobs for their employees. This principle is not just about the company and its employees but is also about the customer. This is when Toyota will identify what values the customer wants in their products. When Toyota knows what values the customer wants it then can start to work on the process. The process principle

Birth order and personality traits - 600 Words

Birth order and personality traits Birth order and personality traits are very negotiable because the past and present life situation have a big role in how an individual will turn out, but if it’s an average Joe family then I wouldn’t be surprised if they were like what has been studied and concluded for obvious reasons. All of the traits one can have are unlimited depending on the type of parents, environment, and there intelect. These things can either be good or bad, still depending on the person and their thought process. I am logical and an evaluater (but not always choosing the logical solution even if there is a better way) which makes it easy to blend in with my surroundings and just â€Å"roll with it†( words from Birth Order:†¦show more content†¦So making the peace is all right with me. Suppresion of feelings was a big issue in the past because I would just bottle it up and explode, just completely freak out. It was intense, but like I said your traits really depend on the situation because I no longer have that problem. Since I no longer supress everything I can just chill and stay calm, care-free, and â€Å"roll with it† My agreements with the list of personality traits was moderatly accurate but still missing vital traits that I am excelled in. So this is my dissagrees and whatever else may be in here. I am â€Å"Super† creative with a capital â€Å"s† because I have a huge list of creative things I do and I will list all of them: I make lots music in all kinds of genres clear from techno to punk rock and I have many contacts that I work with and we make magic happen. I also am an artist and I find that I am excelling in this profession daily and not only that but I make all my art with a little aid and the rest with pure imagination. I can write pretty well, for example, what I’m doing now is pretty awesome if I do say so myself. From what almost all of the experts say I should feel left out in my family, but it’s the exact opposite because I get an equal amount of attention as everyone else and I don’t like much attention anyway so that may be a factor as well. My little brother does get a lot of attention†¦ in the wrong way. So I guess that contradicts what IShow MoreRelatedBirth Order Personality Traits Essay743 Words   |  3 PagesBirth Order Personality Traits It is easy to wonder how two children from the same family can turn out so differently, with completely different personalities and ways of solving problems. Recognizing the immense influence of family dynamics on young children can clear up a lot of the confusion. For example, eldest children look to their parents as role models for their behavior, and may become perfectionistic as parents expect them to act like little adults. MiddleRead MorePersonality Tags for Birth Order1325 Words   |  5 Pages Is there a â€Å"personality tag† for each child, depending on their birth order? Does the family size, or even the parents’ life styles, affect anything? Birth order is more than just an old wives’ tale about predicting the personalities of each child in every family. â€Å"Birth order, put in its proper context, is a key that can unlock personalities and give you a new perspective on human nature.† (First- born?,1). Every child of every family has a personality tag, just because of their spot on the immediateRead MoreHow Birth Order Affects Personality798 Words   |  4 PagesThis study was compelling as it was one of the first to compare birth rank stereotypes with reality. However, as the authors noted, do these stereotypes induce differences in parents expectations? (Herrera 150) Thus, the stereotype becomes a self-fulfilling prophecy. To examine the premise, I would like to design a research experiment that addresses how birth order affects personality in families that do not adhere to the beliefs in stereotypes for their children. To accomplish this studyRead MoreThe Effect Of Birth Order On Personality848 Words   |  4 Pagesto whether birth order truly has an effect on the way we behave throughout our development. The article I’ve selected argues against the notion that these two correlate. The sample can be found at PNAS.org, otherwise known as the Proceedings of the National Academy of the United States of America. Titled, â€Å"Examining the Effects of Birth Order on Personality† three authors collectively come to this agreement that there are no lasting effects from birth order in long-term personality traits. The namesRead MoreRelationship Between Birth Order And Personality858 Words   |  4 PagesExploring the Relationship between Birth Order and Personality For many years, there’s been an ongoing debate as to whether birth order truly has an effect on the way we behave throughout our development. The article I’ve selected argues against the notion that these two correlate. The sample can be found at PNAS.org, otherwise known as the Proceedings of the National Academy of the United States of America. Titled, â€Å"Examining the Effects of Birth Order on Personality† three authors collectively comeRead MoreAlfred Adler s Birth Order1555 Words   |  7 PagesIntroduction Alfred Adler believed that one’s order of birth influenced their personality. Adler was one of the first of many psychologist to conjure up a theory about how one’s position , in terms of birth order effected a person’s personality traits. 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My sister Abbey and I are only eighteen months apart and have shared a room for as long as I can remember. We have polar opposite personalities and would fight constantly growing up. I am very introverted, bring in large groups of people drains me. I like having time to myself but can be extroverted in social situations. I am a very easy-going flexible person and I try to avoid conflict as much as possibleRead MoreImpact Of Birth Order On Multi Children Families1168 Words   |  5 Pagesimpact of birth order in multi-children families, whether it affects creativity, future success, intelligence, and overall happiness and satisfaction in life. It is popularly believed by laypeople that birth order and family size pl ays a strong role in the development and eventual personality type and success of each adult; however, while many studies have found positive correlations between older children and success, others have been inconclusive (Carballo, J. et al. 2012). While birth order may playRead MoreThe Importance Of Birth Order And Its Effect On Leadership747 Words   |  3 Pagesthat birth order can determine how one leads. This paper will examine the importance of birth order and its effect on leadership. So, what is birth order? The term birth order refers to the rank of siblings by age. Birth order is believed to have significant and lasting psychological effects on an individual. The effects of birth order on the overall development of a person have continued to have an existence in both personal and professional life. What is personality? Personality refers

Strategic Management Oil and Gas Field Equipment

Question: Choose one oil field service provider and report on its position in the sector. The report should cover the period from the beginning of 2014 to the present day. The report should analyse the current state of the chosen oil field service provider, and then consider the strategic options available to that provider. The report should include the use of appropriate academic model(s) when considering the strategic options available to the chosen firm.? Answer: Introduction Over the last five years, the global oil and gas field services and equipment industry is experiencing steady growth and is soon expected to reach a solid upward momentum, with a 6.9% CAGR over the coming five years and reaching $613 billion approximately by the year, 2017 (Bombourg, 2012). The oilfield service industry has emerged as an extremely large industry which comprises of companies offering assistance to drilling companies who are setting up oil and gas well in different locations. Oilfield service providers are responsible for manufacturing, maintaining and repairing equipment used in the extraction and transportation of oil(Investopedia, LLC., 2016). The services provided by oilfield service providers include services such as, transport services which involve moving both water and land rigs around at some point of time, seismic testing which involves activities of mapping the geological structure beneath the surface and directional services which involve providing speciali sed services of drilling horizontal or angled holes as all oil wells cannot be drilled straight down (Investopedia, LLC., 2016). Being a large and highly-competitive industry, for its participants the industry and its transaction market is noted for significant cyclicality. The OFS industry over the last decade had experienced steady growth, substantial changes and shocks owing to factors such as a rise in commodity price for oil and natural gas, Macondo tragedy, fallout from the great recession and the expansion of U.S unconventional production and drilling (Robert L. Moore Springer, 2014). In the last two years however, the shape of oil field service industry has significantly altered due to some anticipated bankruptcies and a rash of acquisitions and mergers. This report provides insight into the performance of Halliburton Co., over the last two years. The analysis highlights the current position of Halliburton within the oilfield service industry. Porters five forces analysis model is used to analyse the different types of strategic options available to the firm. Last part of the report provides recommendations and justification on the choice of the most suitable strategic option for Halliburton. Current Position of Halliburton in Oilfield Service Industry Founded in the year, 1919, Halliburton after Schlumberger is ranked as the worlds second largest provider of services and equipment to the oil and gas industry(Halliburton, 2016). The companys proud and fascinating history of continuous focus on expansion and innovation began with its founder Erle P. Halliburton. Today the company offers the broadest array of services, products and integrated solutions for oil and gas development, exploration and production. Started in Duncan, Oklahoma as an oil well cementing business with borrowed wagon, a plump and a team of mules, Halliburton made remarkable growth and success and today operates in more than 80 countries and employs a diverse workforce 65,000 employees who represent 140 nationalities (Halliburton, 2016). The company has dual headquarters located in Dubai and Houston. From managing geological data and locating hydrocarbon, to formation evaluation and drilling, completion and well construction, and throughout the life of the field optimising production, throughout the lifecycle of the reservoir, Halliburton serves the upstream oil and gas industry. The thirteen product service lines of the company operate in two divisions: Completion and Production and Drilling and Evaluation. Different product service lines of Halliburton are shown below. Product Service Lines of Halliburton Image.1. Source: Halliburton (2016) Halliburton in North America has the largest industry market share and also operates in geographical segments of Europe/Africa, Middle East Asia and Latin America. The company report a current market capitalisation of $31.23 B, which has reduced compared to its market capitalisation of $51.074 B in the year, 2014. Halliburtons financial performance for fiscal year (January-December) 2014 and 2015 is shown in the table below. Financial performance Jan-Dec 2014 Jan-Dec 2015 Sales/Revenue $ 32.87 B $ 23.63 B Gross Income $ 5.96 B $ 2.52 B Net income $ 3.44B $ (666M) Market Cap $ 51.074 B $ 31.23 B Stock Price (Average) $ 60.55 $ 36.29 Table.1. Source: Made by Student (2016), Adopted: Market Watch (2016) A comparison of Halliburtons stock index over the period of 2 years is shown in the chart below. Stock Index Image.2. Source: Market Watch (2016) Halliburtons detailed company profile in the current year is shown below. Halliburton Company Profile Image.3. Source: Market Watch (2016) Halliburton is committed to outperforming their competitors, focused execution and big thinking to survive in todays dynamic market environment(Halliburton, 2016). Executing on their key strategies around mature fields, unconventionals and deepwater, Halliburton had been able to continuously deliver industry leading growth and returns. Exceptional service quality, strong customer relationships and differentiating technologies have always been Halliburtons competitive advantage over their rivals. The company faces though competition from Schlumberger in France and Saipem an Italian company and currently has to settle for second place in the list of worlds top 10 biggest oilfield services companies list(Market Watch, 2016). Halliburton in spite of being an oilfields service provider has always been more famous than an oilfield service provider should be owing to various controversies the company was a part of over the last decade. Being an industry leader in technology and innovation, Halliburton has defined high standards for its global operations. The Guiding Principles of Sustainability is regarded as the key component of their big vision and they strive to utilise their resources responsibly to create a minimal negative impact on the society and environment(Halliburton, 2016). Sustainability is embedded throughout their business and is considered the core of their long-term success. Halliburton recent announcement of cutting down 5000 jobs further which makes up to 5% of its global workforces has had a negative influence on investors sentiments bringing down its stock value to $ 36.29(Market Watch, 2016). Despite of facing some recent downfalls, Halliburton believes that it will be able to survive its current environment with the companys two-pronged strategies, first by controlling what they can control in the short-term and then shift their focus beyond the cycle and prepare for the recovery. Both these strategies have the same objective of lower down operations costs which will surely help the company in making for its losses by the end of the new fiscal year 2016. Porters Five Forces Analysis Halliburton Porters five forces analysis is a strategic management tool that helps to analyse the degree of competition in the industry and thus business strategy development (Ansoff, 2007). Porters five forces analysis is performed to evaluate Halliburtons competitive landscape and based on the outcome identify difference strategic options available. Threat of New Entrants: Low Though a the number of companies providing oilfield services have increased over the past years, the barriers to entry are still high enough and allow only serious competitors to survive and soon or later swipes out others (Market Watch, 2016). Establishing an oilfield service provider business requires ample amount of cash than any other business making it the most common threat for new entrants. For the companies that for recently entered the oilfield service industry lenders have created a big problem as they are demanding their money back but the collapse in oil prices have crippled the ability of these new entrants to make necessary payments (Yager, 2016). Most of the new entrants are being forced by lenders into receivership. Thus, somewhere lenders are controlling the future of oilfield services industry increasing challenges for new entrants. In areas where specialised workers are required in the oil business presents the highest barriers to entry for new entrants(Yager, 2016). It involves doing some serious business and performing lots of hazardous tasks thus it requires completion of some serious legal documents and following strict laws and regulations to safeguard health and safety of workers involved. Access to distribution channels, product differentiation and cost disadvantages are some of the other barriers to entry in the oilfield service industry. All these factors make the threat of new entrants low in oilfield services industry(Yahoo Finance, 2016). Halliburton had been in the business for almost 100 years and had gained a good reputation and is recognised as a specialised oilfield service provider thus faces a low threat of competition from new entrants. Power of Suppliers: Low to Medium By reducing the quality or raising the prices of purchased services and goods suppliers within an industry can exert bargaining power on participants (Porter, 1979). Powerful suppliers possess the ability to squeeze profitability out of a company which eventually will fail to recover increased costs from own selling prices. As the numbers of companies that manage to survive within the oilfield services industry are less so are their suppliers. The power of suppliers completely depends upon the size and hold of the company itself within the sector. A supplier group is found to exert high power on participants when the group is dominated by few companies and is more concentrated compared to the industry it sells(Porter, 1979). A supplier who had been able to build up switching costs or if its products are least differentiated or unique has more power compared to the company it sells. In the case of oilfield service industry, the number of suppliers is equally concentrated as the number of services providing companies thus they exert a good amount of power on the industry. However, the case of Halliburton is not same as the come is a recognised brand in the industry thus suppliers also look forward to maintaining a strong business relationship(Porter, 1979). Suppliers are ready to provide reasonable pricing and support activities to companies like Halliburton. The company has a strict code of conduct and ethical guide line which its suppliers must adhere to be a part of their global network of suppliers. Power of Buyers: Medium to High Oil and gas industry is a concentrated industry with high competition among the members who manage to survive(Halliburton, 2016). These buyers then exert good pressure on oilfield service providers as they make large volume purchases. In recent years owing to a fall in oil prices and unstable economy the balance of power within the oilfield services industry has considerably shifted to the buyers. As the services provided by different oilfield service companies are not much different, there are several alternate suppliers available to the buyers thus increasing their buying power. To lower down their operations costs, buyers in this industry look for suppliers who can offer the most competitive prices. Halliburton owing to its years long experience in the industry and being an industry leader in technology and innovation provides specialised services to its customers which most of its competitors fail to provide(Halliburton, 2016). The company is recognised as highly customer-focused organisations and enjoys good customer loyalty. Some of Halliburtons customers data is shown below. Image.4. Source: CSI Market (2016) Availability of Substitute: Medium to Low The services provided by oilfield service companies are not very different from each other, owing to advancement in technology(Porter, 1979). Availability of substitute also depends on where the company is operating. Companies providing specialised and obscure services are likely to face less threat of substitutes. Halliburton is the industry leader in technology and innovation and provides some of the unique, highly technical and differentiated services to their customers which not all of its competitors can provide. Competitive Rivalry: Medium to High The oilfield service industry has been hit very hard by reduced oil prices, forcing these companies to cut down costs, reduce activities and force their suppliers to reduce prices. The industry has become highly competitive with only the large ones dominating. Halliburton face tough competition from Schlumberger, Baker Hughes Incorporated and Technip (Yahoo Finance, 2016). Some other competitors in the oil and gas industry include General Electric Company, Jacobs Engineering Group Inc and Dover Corp. Halliburton direct competitor comparison is shown below. Image.5. Source: Yahoo Finance (2016) Strategic Options available to Halliburton Oilfield service industry being hit hard by decreased oil prices worldwide is offering a tough time to survival companies(Ryan, 2013). The competitive landscape is becoming tough and companies focus on reducing operations costs to increase profit margins. Halliburton is facing tough competition from companies like Schlumberger, Baker Hughes Incorporated and Technip. In North America, Halliburton has the highest market share however it is still behind its competitors in the Middle East and Asia, Europe/ Africa and other regions(Halliburton, 2016). The company recently had been involved in several controversies which had a negative impact on its brand perception. Porters five force analysis for Halliburton helped to evaluate its competitive landscape and analysing companys position in the industry. Halliburton had a strong hold in technology and provided some of the most specialised services to its customers. To maintain its market share and position within the industry Halliburton wil l have to formulate new strategies. Some strategic options available to Halliburton are: Lowering Operations Costs: Reducing operations costs will help the company reduce its expenses and increase profitability(Ansoff, 2007). To improve its position in the market, it is important to select buyers and suppliers who possess very less power to influence it adversely. Preference can be given to suppliers from developing countries to increase chances of further negotiation on contract terms. Mergers and Acquisitions: Mergers and Acquisitions have always been one of the most preferred strategic choices(Ansoff, 2007). They help the company increase its capabilities and core competencies to serve their customers better. Halliburtons acquisition of Baker Hughes has enabled the company enhance its core competencies and strengthen its financial position(Market Watch, 2016). Halliburton should plan more such acquisitions to further strengthen its position in the industry. Expand in Developing Countries: To take advantage of opportunities present in the developing countries such as India and China, Halliburton should emphasize on increasing its operations in these countries(Ansoff, 2007). Factors such as lower currency value, low wages and cost of labour, flexible tax laws and government support are some of the benefits associated with these countries. Recommendations Mergers and Acquisitions are the most suitable strategic as it will help companies increase their capability as well as its financial position. The current situation of oilfield service industry is best for mergers and acquisitions as various new companies that have advanced technology but less experience in the industry are finding it difficult to survive. Halliburton will have more power during the negotiation of acquisition contract terms as these companies do not have many options left. Merging with a technically strong company will help Halliburton strengthen its images as technology and innovation leader. With increased capabilities Halliburton will be able to provide more innovative and differentiated services to its customers. Halliburtons acquisition of Baker Hughes proved highly beneficial for the company by enhancing its capabilities and financial stability. Conclusion Despite of the adverse conditions and a highly competitive environment, Halliburton has been able to the secure second position in the list of worlds top 10 biggest oilfield service companies. The company is recognised for its excellent customer service and specialised services. Halliburton is the market leader in technology and innovation within the industry. Its acquisition of Baker Hughes has further increased its capabilities to serve its customers better and also improved its financial position in the market. An analysis of Porters five forces reveals that Halliburton possesses high potential for growth and can outperform its prime competitor Schlumberger provided it makes the right strategic decisions in right time. References Ansoff, H. I., (2007) Strategic Management. Hampshire: Palgrave Macmillan. Bombourg, N., (2012) Top Five Global Oil and Gas Field Equipment and Services Companies: Performance, Strategies, and Competitive Analysis. [Online] Available at: https://www.prnewswire.com/news-releases/top-five-global-oil-and-gas-field-equipment-and-services-companies-performance-strategies-and-competitive-analysis-176612251.html [Accessed 2016]. CSI Market, (2016) Halliburton's Customers Data. [Online] Available at: https://csimarket.com/stocks/competitionNO4.php?marketscode=HAL [Accessed 2016]. Halliburton, (2016) Corporate Profile. [Online] Available at: https://www.halliburton.com/en-US/about-us/corporate-profile/default.page?node-id=hgeyxt5p [Accessed 2016]. Halliburton, (2016) History of Halliburton. [Online] Available at: https://www.halliburton.com/en-US/about-us/history-of-halliburton-of-halliburton.page?node-id=hgeyxt5y [Accessed 2016]. Investopedia, LLC., (2016) The Industry Handbook: The Oil Services Industry. [Online] Available at: https://www.investopedia.com/features/industryhandbook/oil_services.asp [Accessed 2016]. Market Watch, (2016) Annual Financials for Halliburton Co.. [Online] Available at: https://www.marketwatch.com/investing/stock/hal/financials [Accessed 2016]. Market Watch, (2016) Halliburton Co.. [Online] Available at: https://www.marketwatch.com/investing/stock/hal?CountryCode=US [Accessed 2016]. Porter, M. E., (1979) How Competitive Forces Shape Strategy. [Online] Available at: https://hbr.org/1979/03/how-competitive-forces-shape-strategy [Accessed 2016]. Robert L. Moore, J. Springer, M., (2014) Oilfield Services and Equipment Industry Transaction Trends. [Online] Available at: https://www.srr.com/article/oilfield-services-and-equipment-industry-transaction-trends [Accessed 2016]. Ryan, M., (2013) Halliburton's technology innovation strategy includes acquisitions, partnerships. [Online] Available at: https://www.bizjournals.com/houston/blog/2013/10/halliburton-explain-its-long-term.html [Accessed 2016]. Yager, D., (2016) How Lenders Control The Future Of Oilfield Services. [Online] Available at: https://oilprice.com/Energy/Energy-General/How-Lenders-Control-The-Future-Of-Oilfield-Services.html [Accessed 2016]. Yahoo Finance, (2016) Halliburton Company (HAL). [Online] Available at: https://finance.yahoo.com/q/co?s=HAL+Competitors [Accessed 2016].