Performance Evaluation Of Yunnan Baiyao Group Based On EVA-BSC

With the improvement of China's medical system and the increasing competition of pharmaceutical manufacturing enterprises,as of December 31,2017,there have been more than 150 listed companies in China's pharmaceutical manufacturing industry,and more than 7,000 pharmaceutical manufacturing enterprises above designated size.In order to cope with the fierce competition,companies usually choose to expand their scale to resist external competition.The scale of the company has continued to expand,and the original performance evaluation system has not changed,and no matter what kind of enterprise,the same indicators will be adopted.This practice is not conducive to the development of enterprises,but will have some negative effects.Due to the many shortcomings of the traditional performance evaluation system,it is unable to comply with the development of the times.Therefore,according to the current development of the enterprise,it is imperative to form a new performance evaluation system.The easiest way is to adopt a scientific method and integrate different types of performance evaluation systems,so that the existing shortcomings can be effectively compensated.On this basis,a new performance evaluation system is formed,and the current development of the enterprise is scientifically evaluated.The company continues to improve and achieve development.The evaluation method of economic value added fully takes into account the capital cost of the enterprise,so that the real effect of the business operation is better presented.The Balanced Scorecard is based on the overall strategy of the company and can be comprehensively evaluated on the whole.The effective combination of the above two evaluation systems can complement each other and form a more complete performance evaluation system,which comprehensively and truly reflects the development of the enterprise.In this paper,first of all,the two performance evaluation systems are comprehensively introduced and compared,the advantages and disadvantages of the two methods are analyzed,and the necessity of combining the two evaluation systems and the feasibility of this approach are fully explained.Combining the BalancedScorecard and economic added value,we can make full use of the advantages of the two evaluation systems,make up for each other's shortcomings,enrich the content of performance evaluation of enterprises,widen the scope of evaluation as far as possible,and improve the performance evaluation system of enterprises.Then,65industry-controlled enterprises were selected to study the introduction of EVA-BSC system into performance evaluation,and the existing problems of performance evaluation system were found.Then,taking Yunnan Baiyao Company as the research object,this paper uses a new performance evaluation index to comprehensively evaluate the company's operation situation,finds out the problems existing in the company's operation,and puts forward countermeasures,hoping to help enterprises achieve maximum value.