Research On The Application Of Balanced Scorecard In The Comprehensive Budget Management Of Wind Power Substrate Manufacturing Enterprise

With the wide application of clean energy,wind power market has entered a period of rapid growth.After the overcapacity period in 2010,wind power market had entered a new period of growth,resulting in rapid growth of fan blade industry.The case of this paper-Company H has implemented the comprehensive budget management as an important supplier of wind power industry.However,for the reason of failing combination of strategy and budget management,excessively focus on the growth of sales,the quality of production and customer satisfaction declined.In addition,the increased production led to significantly enhance of working strength,resulting in low employee satisfaction and unsatisfied free cash flow.The traditional budget management system cannot adapt to the rapid changes yet in the market and shows its defects.This paper introduced the Balanced Scorecard in Company H based on the original comprehensive budget management.It has two meanings: one point is that the decomposition of strategic targets makes the budget management connect with strategy.The second thing is that new budget management design characteristic index of wind power substrate manufacturing industry and non-financial index which related to the external customer,competitors,internal business process,development and growth.This paper pick the typical enterprise of domestic wind power substrate manufacturing industry as the case,and acquired budget management documents through investigation and interview to get acquainted with comprehensive budget management system of H company,and the comprehensive budget management assessment methods;Secondly,understand H's advantages and disadvantages in the implementation of traditional budget management according to the business environment.Finally,according to the characteristics of wind power manufacturing industry--customer authentication period,this paper summarizes the related indicators to acquire industry competitive edge,and thus constructing a budget system of balanced scorecard with characteristics of the industry,combined budget management with strategic targets from the four dimensions.The innovation of this paper lies in the introduction of the characteristics index of the wind power industry in the balanced scorecard,which constructing a budget management system combined financial indicators and non-financial indicators,and connects with strategy targets.The limitation of this paper is that the paper build the corresponding budget management system only according to one single case,as to universality application of the budget management system in the wind base manufacturing industry,we still need further research.At the same time,the focus point of this paper lies in the construction of budget management system,and the implementation and assessment of the balanced scorecard still needs further research.