Research On The Budget Management In Petro China Fuel Oil HD Sales Subsidiary

Budget management is an advanced management tool which plays an important role in improving the enterprise management level and the modern enterprise system as well as in enhancing the core competitiveness. However, in the practical application, there inevitably appear problems that fail to give full play to the role of budget management in enterprise management. Thus, the practical research of budget management in our enterprises needs to be deepened. Currently, China is faced with important strategic opportunities and has a promising future, for the oil industry as a whole takes on the development trend of large-scale production, integration, intensity and benefits. In recent years, the three major oil companies- CNPC, Sinopec and CNOOC make strategic layout across the country and a group of professional small products sales enterprises have sprung up to break the monopoly of state-owned oil enterprises which stirs an even stiff competition among domestic enterprises. Since Petro China Fuel Oil HD Sales Subsidiary are liable for the marketing work of fuel oil and asphalt in East China area and there appear problems in current budget management, the effect of budget management by Petro China Fuel Oil HD Sales Subsidiary has been hindered. This paper hopes that targeted at the shortcomings of traditional budget management system, the key point of the budget management process should be discussed based on the current budget management mode. Through the analysis of status of implementation of budget management in Petro China Fuel Oil HD Sales Subsidiary, find out the causes of the problems and put forward further suggestions of optimization to achieve the efficient allocation of resources and help companies achieve their strategic goals.This paper sorts out the relevant theories on budget management and studys the status quo and characteristics of the implementation of budget management in the Petro China Fuel Oil HD Sales Subsidiary. By analyzing the status quo of the budget management in Petro China Fuel Oil HD Sales Subsidiary, this paper illustrates the budget management process from the environment of budget implementation, budget planning, budget execution and budget assessment and discusses the key point of the budget management process on the basis of current budget management mode and thus summarizes the implementation guarantee, achievements and existing problems. Starting from the problems arising in the budget management process, implement the strategic management concept to optimize each aspect of the budget management. This paper is divided into five parts, the first part is the introduction, introduces the research background and significance, the main research ideas and research methods, summarizes the research results at home and abroad about the budget management. The second part is the concept of budget management. It outlines some of the theories of budget management, for the later provides a theoretical basis. The third part is the current status of budget management in Petro China Fuel Oil HD Sales Subsidiary. It elaborates on the basis of budget management and management processes. The fourth part is an analysis of the effectiveness of the current budget and management issues, pointing out deficiencies in the existing company budget management. The fifth part is the current budget for the Petro China Fuel Oil HD Sales Subsidiary management problems based on the Balanced Scorecard theory. It provides some suggestions for Petro China Fuel Oil HD Sales Subsidiary.The characteristics and innovation of this paper lies in following two aspects. First, in the process of studying budget management in Petro China Fuel Oil HD Sales Subsidiary, strategic management and other relevant theories have been added according to the characteristics of the budget management and there are diverse theoretical studies. Second, on the basis of the practice of budget management in Petro China Fuel Oil HD Sales Subsidiary, the author introduces the implementation background, system, achievements and shortcomings through the analysis of its unique characteristics. Suggestions and measures for optimization geared to oil sales enterprises are put forward through the combination of theoretical research and practice.