A Study On The Performance Management In MZ Company Based On Balance Scorecard Perspective

As the economic globalization and the development of knowledge economy brings about more and more fierce competition among the enterprises, many enterprises have realized that if an enterprise wants to gain the competitive advantage, it must constantly improve its efficiency and performance. It has been proved that performance management serves as an important approach to improve performance. However, in performance management practice, as the strategic orientation of performance management system is not strong, each indicator seems easy to be completed while the overall performance of the enterprise has not upgraded to a large extent. Managers are facing a great challenge--how to establish the strategic-oriented performance management system.The.Balanced Scorecard assesses organizational strategy from the perspectives of finance, clients, internal procedures, study and growth. Since the origin of the Balanced Scorecard, the Balanced Scorecard had widely spread around the world and won a favorable reputation from enterprises in different fields in over one decade. At present, the Balanced Scorecard is utilized as a strong strategic management tool which is applied by most of enterprises in Fortune Global, to construct enterprise performance management system. It is a good idea for managers to deploy the Balanced Scorecard to construct the strategic-orientated performance management system.In this thesis, MZ Company is placed as the research object. The industry development trend and the performance management in MZ company will be explored by using the theories of Balanced Scorecard, performance management and strategic management. The theory of Balanced Scorecard will be employed to construct enterprise performance management system to solve the problems in the company’s performance management and ensure realization of company’s strategic target. Research conclusions are as follows: (1)In line with the actual situation of the MZ Company and preconditions for implementing the Balanced Scorecard, the author analyzes and verifies the feasibility of the application in MZ Company.(2)This thesis further specifies the company’s core competitiveness on the basis of analyzing the industry development trend and company’s internal and external customer satisfaction survey results.(3)This thesis draws the company strategy map and constructs company’s, departmental and personal Balanced Scorecards respectively on the foundation of clarifying the mission, core value, vision and strategy of the company.(4)This thesis designs performance evaluation and feedback system. There are6chapters in this thesis:The first chapter is an introduction which provides the background and significance of thesis research and a brief description of the framework of this study.The second chapter, which is a literature review, is composed of three parts. The first part is the review of strategic management theory. The second part is the review of performance management theory. Performance management is a dynamic and sustainable management process. Strategy-oriented performance management system must be consistent with organizational strategy. The third part is the review of the Balanced Scorecard Theory. Balanced Scorecard can help companies to build strategic management system,The third chapter belongs to the analysis of MZ internal and external environments. This chapter will elaborate industry trends, offer model of creating value for customers, analyze survey results of internal and external customer satisfaction and clarify the company’s core competitiveness.The fourth chapter will analyze MZ Company background in the application of the Balanced Scorecard, introduce current performance management system of MZ Company and the problems of current performance management system and unfold the feasibility of deploying the Balanced Scorecard in MZ Company.The fifth chapter investigates the construction of MZ Performance Management System based on the Balanced Scorecard. First of all, this chapter clarifies the corporate mission, core values, vision and strategy. Secondly, this chapter draws the map of corporate strategy and constructs Balanced Scorecard of Company. Thirdly, this chapter constructs the departmental and personal Balanced Scorecard of MZ Company. Fourth, this chapter designs corresponding performance evaluation system, feedback system and the system of applying the results.The sixth chapter makes the conclusion about this thesis and generates some suggestions and advices about the application of Balanced Scorecard.