Research Of Performance Evaluation By Applying The Balanced Scorecard In China Petroleum Changqing General Drilling Company

As a financial management tool, the balanced scorecard is widely used in various industries in the performance evaluation system. There are problems of current performance evaluation system in China Petroleum Changqing General Drilling Company, such as attaching great importance to financial indicators, unreasonable cycle, imperfect evaluation system, unreasonable evaluation for employee and the application of the results is not respected. In order to promote the long-term development of the enterprise, the company need a set of effective performance evaluation system. The theme of the paper is to explore how to improve its effectiveness of performance evaluation in China Petroleum Changqing General Drilling Company by applying the balanced scorecard more effectively.The current situation and problems of performance evaluation in China Petroleum Changqing General Drilling Company are analyzed by applying the theoretical analysis of performance evaluation. And then to establish the performance evaluation system based on the balanced scorecard in China Petroleum Changqing General Drilling Company by means of constituting the targets of performance evaluation system, establishing the system of the balanced scorecard which includes indicators such as financial, customer, internal process, learning and growth etc. as well as calculating the weights of those indicators. The problems such as implementation processes and safeguard measures are discussed preliminary when the performance evaluation system is applide and implemented in China Petroleum Changqing General Drilling Company.Finally, it summarizes the problems when the balanced scorecard is applied in China Petroleum Changqing General Drilling Company. And provides some suggestions about the implementation process.