Huafang Corporation

Huafung Corporating is a yong state-run corporating with only ten-year history. It grew up in the upsurge of the real estate boom of the early 1990s and experienced a short brilliant time. But now it has landed in a predicament due to the economic reform and the continues low tide in the market economy. In order to step out of the stagnancy and rally its forces to face new century's challenges with a completely new look Huafang Corporation is going to rearrange and labor structure. The reconstruction of its forces to face new century's challenges and transform its capital structure, business strategies, management system and labor structure, the reconstruction of is performance management system is an important part of the reform.In the main body of this case is presented the history and the current situation of the corporation, the old adopted performance management system, the main problems and their negative effects on the administration. The paper especially introduces the reconstruction of the performance management system of Huafang Corporation.In its analysis of the case of Huafang Corporation the paper elaborates and analyses the concepts, fundamental aims, system circulation, actual operation of the performance management as well as the reasons and the significance of adopting this method, hoping to find out a scientific, efficient and practical performance management system so as to put the corporation onto the track toward high efficiency and healthy development.