Discussion On Strategy Performance Evaluation Indicators Of HY Petrochemical Company

The Performance Evaluation of business-related issues has attracted much attention from companies,especially the design and application of performance evaluation indicators,which have been the most important and difficult parts.At this stage,many enterprises in China are still using the traditional performance evaluation methods;it brings many problems,such as unclear evaluation indicators,strong subjective factors,and other issues,causing the unconvincing result.Therefore,it is very important to quantify the performance evaluation indicators,which has a great significance on performance management.The combination of Strategy and performance evaluation index system will be an innovation,which can bring more quantitative performance indicators.And it can enable employees understand their responsibilities specifically,and then they will be inclined to devote to the company.Meanwhile,Performance Evaluation of Strategy-oriented,can achieve the overall interests of the enterprise better.The theme of this article is about the strategic performance evaluation of HY Petrochemical Company,and this paper use case study methods.HY petrochemical company which is a modern large-scale private enterprise in Zhejiang,has its own characteristics,and is now in the transition period.Its' current performance evaluation system has been unable to meet the company's future development needs,however,HY petrochemical company has fundamental conditions to improve the evaluation system,and this is the reason why this paper makes it a case object.By analyzing the problems of the HY Petrochemical Company's performance evaluation indicators,this paper will put forward specific recommendations for improvement.The Balanced Scorecard(BSC)which can refine the company strategy is introduced in this paper to construct HY petrochemical company's Performance Evaluation System.The petrochemical enterprise-specific Balanced Scorecard framework is built by combining its own characteristics.The use of BSC to build the performance evaluation system of HY petrochemical company,can bring a comprehensive and specific assessment for the company,make the performance assessment methods more rigorous,and quantify the assessment indicators.Besides,employees will understand these indicators easily so that they will promote the process of enterprise strategy better and devote themselves to the company.Finally,it can provide a realistic reference for the construction of the petrochemical industry strategic performance indicators.