X Group Performance Management Systems Research

In the context of economic globalization, the competition amongenterprises is becoming increasingly fierce. In order to enhancecompetitiveness and improve management efficiency, the performancemanagement has been adopted as a key part of business management. As acore part of the performance management, performance evaluation hasbecome a dominant factor for the enterprise to achieve strategicobjectives. By the theory of performance evaluation, this paper analysesthe performance appraisal process, principles, methods and assessmentsystem’s design of X Group Company, thus putting forward suggestionsto further improve the Group’s performance evaluation.As the main body of government investment and asset operation, X Group,on one hand, engages in developing urban functions to preserve andincrease the value of state-owned assets, on the other hand, participatesin market competition to continually enhance market competitive capacity.With the dual nature of government and market, the Group is made to involvein several sectors and industries. Accordingly, the Group’s performanceappraisal also shows multi-level characters, including evaluationsystems of investing to construct subsidiaries, of operatingsubsidiaries, of subsidiaries with dual nature as well as the system ofall functional departments set up for company management.The evaluation system of X Group adheres to these followingprinciples, including direct assessment by higher-ups, fullparticipation and agreement by most of peoples and horizontalcomparability. Therefore, the performance appraisal is ensured to be fairand objective; the performance goal of the group also follows principlesof management-orientation, measurability and controllability so as to give full play to the inspiring role of the performance evaluation.As to design methods, according to its own nature and operatingcharacteristics, G group has adopted a variety of methods, among which,objective evaluation, key indicators appraisal,balanced scorecard and360-degree feedback assessment are main methods used.In the process of implementing performance appraisal, X Groupattaches great importance to performance feedback in the forms such asresearch, face-to-face talks, questionnaires, and so forth. The contentsof the feedback include the system, index value, the progress, existingproblems and improving suggestions and results of the performanceevaluation, and so on.In general, the performance appraisal of X Group is basically inaccordance with the status quo. Its implementation will inspire theinitiatives of various-level staff in headquarters departments andsubsidiaries, thus enhancing the Group’s management efficiency. However,comparing to advanced enterprises, X Corporation needs to continuouslyimprove its performance appraisal as it develops, such as increasingemphasis on performance appraisal, strengthening the research andplanning of the performance assessment by the appraised units, andexpanding scopes of application of the evaluation results, etc.