Scorecard The Huayin Corporate Performance Management

Performance management is an advanced management system to implement and monitor the corporate strategy and to guarantee the success of the strategy. It not only focuses on decisions and action plans relevant with corporate mission and objectives, but also emphasizes managing the process and effects.Currently, performance management emphasizes the integration of .performance objectives and the strategic objectives, however there are not enough ways and methods of doing so. Furthermore, financial objectives have been paid too much attention while the functions of non-financial ones have been neglected. To solve the above problems, it has been forwarded that Balance Scorecard be used into Performance Management System and its construction and implementation.This thesis systematically explains the definition, contents, workflows of performance management and also the difference between strategic and traditional performance management and detailed introduction has been given about the history, nature and functions of Balance Scorecard. Based on the present situation of Performance Management in Huayin Company, the author of the paper hereby proposes the idea of construction of strategic performance appraisal system and establishment of analytic hierarchy process (AHP) for strategic objectives .Critical success factors and key performance indexes(KPI) have been developed based on the mode of balance scorecard and the KPIs have been further broken down to department KPIs and individual ones. Effectiveness of the strategic objectives has been guaranteed through monitoring and adjusting of the KPIs. In the mean time, in the development of KPIs, enough consideration has been given to the balance between financial indexes and non-financial ones The including of the key influencing indexes into the critical success factors and key performance indexes guarantees the implementation of performance management and outstanding of the corporate strategy.