A Study On Performance Evaluation Of XJ Oil Company By Using Balanced Score Card

As China continues to open up the market access of oil and gas industry and encourage social capital to be invested the oil and gas sector,the competitive subjects in the domestic oil industry will be more pluralistic in the future,which will certainly squeeze the market share and development space of each link in the oil industry chain.In order to ensure a stable market and enhance the profit of traditional oil enterprises,it is necessary to enhance the core competitiveness of enterprises.At present,XJ Petroleum Transportation Company still adopts the traditional performance evaluation system of financial data analysis,pays little attention to non-financial indicators,and its index system has low correlation with enterprise strategy,which makes the performance evaluation system a formality and that can not reflect the true operation.With the increasingly drastic marketing competition,there is an urgent need for XJ Petroleum Transportation Company to improve its comprehensive competitiveness.To solve the problems existing in the performance evaluation of XJ Petroleum Transportation Company effectively,this paper establishes a new performance evaluation system for the company on the basis of Balanced score card theory.First of all,this paper introduces the current research and application of the Balanced Score card at home and abroad,and puts forward the research significance,research ideas and research methods.Secondly,this paper analyzes relevant theories of enterprise performance evaluation and Balanced Score card.Thirdly,combined with the external environment and organizational structure of production and operation of XJ Petroleum Transportation Company,this paper analyzes the current performance evaluation method.Since there are some problems in the current evaluation methods,such as over-weighted financial indicators,little attention to talent cultivation and low correlation with enterprise strategy,it is necessary to optimize the performance evaluation system in combination with the Balanced Score card and analyze its feasibility and necessity.Fourthly,the key performance indicators are designed by the method of questionnaire survey and the weight is designed for the key indicators by analytic hierarchy process based on the related theories of enterprise performance evaluation and the Balanced Score card.Thus,a performance evaluation system suitable for XJ Petroleum Transportation Company is constructed on the basis of Balanced Score card,which provides astrong support for the XJ Petroleum Transportation Company to enhance its comprehensive competitiveness and realize the strategic goal.Fifthly,three oil transportation projects of XJ Petroleum Transportation Company,K,D and Z are selected as the objects for case study,and the comparative analysis for the performance evaluation based on the Balanced Score card is carried out.Through the application analysis,it is concluded that the Balanced Score card can evaluate performance more comprehensively,scientifically and reasonably.In addition,the performance evaluation system based on the Balanced Score card can be guaranteed by strengthening the understanding of company strategy,improving the corresponding communication mechanism and incentive mechanism,etc.Finally,this paper makes a summary and prospect of the basic conclusions of this study.