Based On The Balanced Scorecard Strategic Management,

With the continue growth of Chinese economy, strategic managementbecome more and more important to Chinese enterprises. For a long time,managers in China have been eager to learn new management concepts, so asto gain competitive advantages in the marketplace. Under this condition,enterprises need a system which can help to communication,measure andimplement strategy .The balanced scorecard (BSC) provides an importantperformance Measurement implement. Since the balanced scorecard came outin 1992, it has been used more and more extensively as a tool of the strategymanagement. However, China is in the early stage of a learning curve for howto implement the BSC methodology in a manner that yields the desired results,so BSC is a new management tool relatively to Chinese enterprises.Strategy is a multi-element plan for achieving policy goals, bymaximizing the use of a company's present and potential resources. Strategicmanagement is concerned with taking decisions about major issues facing theorganization and ensuring that the strategy is put into effect in a propermanner. Strategic management includes strategic analysis, strategic choice,strategic execution and strategic controlling. This article first introduces thebasic frame of strategic management, and then introduces the conception andframe of balanced scorecard and strategic map, finally provides a new methodof strategic management on the basis of BSC and strategic map. Itsummarizes the principia and steps designed in our country and gives someuseful advice to the current strategic management of Chinese enterprises. TheBSC describes strategy, measure performance creation and control strategy. Ithas been a bridge that connects the strategy, strategy implement andperformance measurement, which provide a new research scope for strategicmanagement.Even though there are some deflectable cases of BSC in china, which isnot the fault of BSC, it is still one of the worthwhile tools, which enableChinese organizations to accelerate the pace and success of strategymanagement. Accompanied with prompt development of informationtechnology, I strongly believe that the BSC methodology, an effective tool ofstrategic management, will be adopted on a large scale in China, especiallyafter china entered WTO. It will help Chinese enterprises to face the highlyfierce competition in the marketplace.