Research On Performance Evaluation Of YH Group Jiangsu Company Based On Balanced Scorecard

Faced with the risks and challenges brought about by economic globalization,many enterprises actively enhance their market competitiveness by enhancing their core competitiveness.As an important evaluation tool that can effectively reflect the operational status and management ability of enterprises,enterprise performance evaluation is receiving widespread attention and attention in the industry.At the same time,with the continuous deepening and development of the market economy,more and more business owners are choosing professional managers to operate and manage companies.In order to better enable investors to understand and grasp the operational status of their invested enterprises,assess the performance of entrusted agents,and conduct periodic performance evaluations of enterprises,it has become more urgent and necessary than ever before.However,many domestic enterprises currently only use some key financial indicators for performance evaluation,ignoring the impact of non-financial indicators on enterprise performance evaluation.This not only leads to onesidedness of performance evaluation results to a certain extent,but also weakens the authority of performance evaluation work.As a key enterprise in the domestic industrial gas industry,YH Group mainly uses professional managers to manage the company,and the product market competition is very fierce.Due to the simplistic and inefficient performance evaluation system currently adopted by YH Group,the system has not been able to effectively improve the competitiveness of its subsidiaries,nor has it fully reflected the performance of professional managers.Based on the headquarters perspective,this article selects YH Group Jiangsu Company as the research object,analyzes its current situation and problems in enterprise performance evaluation,and delves into the important impact of performance evaluation optimization on the company’s operations,thus providing some reference for other enterprises to carry out subsidiary performance evaluation.This article adopts a combination of theoretical research and enterprise case studies.Firstly,a theoretical study is conducted on the literature related to performance evaluation,in order to gain a deeper understanding of the important role that performance evaluation plays in enterprise operation.Then,through interviews,the current situation,problems,and causes of performance evaluation work in YH Group Jiangsu Company are sorted out.Subsequently,the necessity and feasibility of introducing the Balanced Scorecard in YH Group Jiangsu Company are elaborated,Obtain key indicators of the Balanced Scorecard through a questionnaire survey,use Analytic Hierarchy Process to calculate indicator weights,and conduct performance evaluation and result analysis on 5 factories of YH Group Jiangsu Company.Finally,propose implementation guarantee measures for the operation of the performance evaluation system,and draw relevant conclusions.Research has found that:(1)YH Group Jiangsu Company has a mismatch between performance management and the company’s strategic development plan in its own operation and development process,which hinders the smooth implementation of the strategic development plan.In addition,YH Group Jiangsu Company still has a performance management system that needs improvement and improvement.The performance evaluation system is relatively single and conservative,the weight of evaluation indicators is not scientifically set,and the management has insufficient understanding of the importance of performance evaluation,There are many issues such as adjustable evaluation indicator data and inaccurate performance evaluation results.(2)Among the current performance evaluation systems in China,the performance evaluation system based on the Balanced Scorecard has the highest matching degree with the current needs of YH Group Jiangsu Company,and is feasible in YH Group Jiangsu Company.(3)By using the Balanced Scorecard to decompose the strategic goals of YH Group Jiangsu Company,25 key performance evaluation sub indicators can be obtained from four dimensions: financial dimension,customer dimension,internal process dimension,and learning and growth dimension.A comprehensive evaluation of the company’s 5 factories can be conducted.The performance evaluation system of YH Group Jiangsu Company based on the balanced scorecard is reasonable and feasible.This system can further guide YH Group Jiangsu Company in implementing performance evaluation,help the company align strategic goals,identify weak links in its own management,and facilitate the company to optimize and improve against strategic deficiencies.The company should take necessary measures to ensure the effective operation of the system.