The Performance Evaluation System Of High-tech Enterprise

In recent years, our state paid more and more attention to high-tech enterpriseswith the deepening of China’s industrial restructure. Encouraging technologicalinnovation is also at the center of debate during the two sessions. In the governmentwork report, our state primer repeatedly placed great emphasis on developing scienceand technology, encouraging innovation and building an innovative nation. Itindicates that the development of high-tech enterprises has become the main focus ofthe industrial restructure. For the high-tech enterprises, how to invest, how much itrequires to make the most effective output are issues related to performanceevaluation. Therefore, it is widely discussed between academics and businessexecutives that how can we evaluate the performance of high-tech enterprises in anobjective and accurate manner. Given the high input, high innovation and high-risk inhigh-tech enterprises, it is of great necessity to design a specific performanceevaluation system to fit the need of high-tech enterprises’ operation and performancemanagement.The main part of this paper includes three parts. The first part lays thefoundation of high-tech enterprises performance evaluation by the analysis of systemtheory, contingency theory, stakeholder theory and control theory. Meanwhile, itsummarizes and describes the business performance evaluation criteria, whichprovides necessary theoretical groundwork and analytic premise for this paper. As thekey chapter, the second part performs comprehensive analyses on high-techenterprises’ features and high-tech enterprises performance evaluation’ defect incurrent China based on relevant performance management theories. This part makesefforts on designing a series of indicators by incorporating widely-acceptedperformance management principles, furthermore provides a suitable and practicalperformance evaluation indicator system for Chinese high-tech enterprises. In thethird part,an empirical analysis is conducted using a sample of68high-techenterprises in China, Based on the enterprises performance evaluation indicator system discussed in part two, a performance evaluation system is constructed byprincipal component analysis approach. It can be concluded that research anddevelopment indicators play an important role in performance evaluation. The inputof research phase has greater impact over performance, compared to developmentinput. Based on these analysis, it is proposed that high-tech enterprises should payattention to research investment, e.g. to increase research investment in line with ownfinancial strength after feasibility study to improve the R&D, innovation andenterprise performance. The upgraded competitiveness will promote long-termsustainable development.