Study On Application Of Balanced Scorecard In ZY Drilling Company

In recent years,the drilling industry as oil upstream plate has been hammered with the continued decline in international crude oil prices,which imposed negative effects on the global oil and gas industry,too many people chasing too few resources grow with each passing day,Increasing competition among enterprises,how to improve the core competitiveness of enterprises in this situation,to achieve maximum profit,is the most important issue for all types of enterprises in the oil industry.As we all know,Scientific and advanced performance management system plays a crucial role in the process of realizing the strategic goal of the enterprise.However,looking toward,State-owned large and medium-sized enterprises which occupy half of drilling market in China,due to the impact of a series of factors such as planned economic system for a long period,performance appraisal is still using the traditional financial statement analysis,there is not enough attention non-financial indicators,resulting in performance appraisal have become a mere formality,it is difficult to reflect the real operations of the enterprise.In addition,the traditional performance appraisal system lacks strategic orientation,thereby,a performance management system with a long-term strategic significance suiting for drilling company is needed to establish eagerly.To solve the above problems by using the advanced management tools such as the balanced score card is the key point of this paper.The ZY drilling company as an example,first of all,it has been expounded about line operation and performance appraisal situation,discussing the problems in performance appraisal,and compares with the Balanced Scorecard theory,and analysis its necessity and feasibility according to the introduction of Balanced Score card.On this basis,to construct a new balanced score card management system with ZY drilling company performance management in the actual situation and the related data,there are four levels to design the index from finance,customer,internal process,learning and growth based on the long-run strategic goal of the company,and uses the analytic hierarchic process to confirm the weight of the indexes,analyzes and processes various index.To achieve basic objectives in aspect of overall control and evaluation of the ZY drilling company.In this paper,through the actual case analysis,it is concluded that the balanced scorecard can be more efficient in the performance evaluation of the drilling company.In the final chapter,we summarize research achievement and limitation and give an outlook of the future study in this field.