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Study on Application of Balanced Scorecard in the performance management system of H company.

Author: WangYiFan
Tutor: LiangChunMei; LiuMin; WangYongKe
School: Shandong Normal University
Course:
Keywords: Balance Score Card Strategy Performance management system
CLC:
Type: Master's thesis
Year: 2014
Downloads: 26
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Abstract

With the "new economy" era coming, economic globalization and free trade hasdeveloped rapidly, and great changes have taken place in the business environment. In such anenvironment, any enterprises which hope to realize the maximization of competitiveness andcreate the greatest value, must manage their resources successfully. Enterprise performanceevaluation is the premise of enterprise management, which plays a leading role on theenterprise strategic objectives and business development, and influences the core competency ofenterprises and sustainable development directly. Which requires the evaluation of enterpriseoperating performance is not only to observe the financial performance, but also the long-termdevelopment of enterprises. Gradually, people have found that the intangible assets played thedecisive role in the business field, mode, factors, power increasingly diversified competition, andbegan to stand in the strategic height to look at the value of human resources. Thus,enterprises have entered the era of strategic management. Performance management that is thecore function of human resources has become an inevitable trend, with mutual matchingorganizational strategy management. However, the intangible assets such as the humanresources itself has the complexity, and dependence on the tangible assets. Which determinesthe enterprise managers must explore deeply in the strategicchoice, management control, potential mining and so on, in order to find a interlocking, endlessvalue chain, and achieve better corporate vision. Nowadays, which the managers facing is thechallenge that how to design a scientific approach and organizational strategies seamlesslyconnect a performance management system. While, the international commonly used tool ofperformance management include management by objectives (MBO), key performanceindicators (KPI), balanced scorecard (BSC). Besides a performance management tool,the balanced scorecard is a strategic management tool. According to a lot of leading andlagging indicators, it can assess whether the enterprise develop toward its strategic goals;Connection with enterprise evaluation and strategic, to demonstrate the business goals tomanagers clearly so that managers pay attention to the effect of future activities, which willenhance business success factors in promoting the role of financial results; BSC also allows employees to understand their performance will affect the success of the enterprise, also canmake the managers understand the daily factors affecting enterprise progress, so as to helpthe enterprise as a whole from management the group to the front-line staff to make fasterresponse to external changes; BSC can also make employees understand how their performancewill affect the success of the enterprise, but allows managers to understand the factors that affectthe daily progress, which help companies from the manager to front-line employees as a wholeto have a faster response to external changes.There are many articles introducing and analyzing this completely new theory, thebalanced scorecard, around the world. But articles combining with our country’s small andmedium-sized enterprises’ strategic target and performance evaluation are only a veryfew, so the author positioned on the H company with a long-term development prospects whichhas a good growth, but has a traditional and single performance appraisal method. Byreferencing to a large number of literatures, using the method of combining theory andpractice, analyzing and researching the Balanced Scorecard and enterpriseperformance management and other related theories, based on the H Corporation’s internalinvestigation, We analyze the necessity and feasibility of using the Balanced Scorecardto design the performance management system of H company, and put forward effective copingstrategies. Then we synthetically use literature, empirical analysis, whole and partinduction, comparative studies and other research methods to provide a theoretical basis andpractical guidance for the implementation of performance management system based on thebalanced scorecard, and by effective performance evaluation, we can feedback,improveand perfect performance management system. The performance management system based onbalanced scorecard this paper discussed will become a powerful tool for H company to completethe established strategic objectives.

Study on Application of Balanced Scorecard in the performance management system of H company.

Abstract

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