Construction Of Performance Evaluation Index System Of Rare Earth Industry Based On Balanced Scorecard

How to evaluate the performance is very important to the enterprise.The theory and practice have been paid close attention and research by the outside world.There are many links between the enterprise performance evaluation index system and each other.The most important one is the selection of the specific evaluation index.In the past,performance evaluation of enterprises focused on short-term interests,which reflected the behavior that had happened in the past but failed to find the reasons that led the enterprises to lead.This did not help enterprises to improve the management level and made long-term development difficult.Therefore,enterprises need a set of clear and feasible performance evaluation index system,which can be subdivided and transformed into practical actions.Balanced Scorecard has been produced for more than 20 years now and has gradually become a powerful tool for enterprises to gain competitive advantage.They are used by a large number of well-known enterprises when making strategic transformation.The use of Balanced Scorecard to build the performance evaluation index system,which can take into account the financial and non-financial requirements of enterprises,can make the development and implementation links to meet the needs of the strategic development of enterprises.This indicator system will take into account the short-term interests and long-term interests,emphasizing the long-term and sustainable development of enterprises,promoting the reform of enterprises and maximizing the value of the enterprises.Balanced Scorecard can be corporate abstract vision and mission into the corresponding action,which not only considers the specific requirements of internal managers,but also to shareholders and customers as the representative of the external stakeholders interest demands;not only reflects the result of past work,but also understand the reasons for the leading enterprises to obtain the leading advantage;can reveal the specific factors that affect the performance of enterprises,so as to truly and reasonably,truly evaluate the performance of enterprises.Rare earth resources have been included in the national strategic mineral directory,known as "industrial vitamins",can be composed of different properties of different materials,a variety of new functional materials,the most prominent role is Greatly improve the quality and performance of other products,play an extremely important role in strategic industries and national defense science and technology industries,and are widely used in various fields of national economy such as military industry and manufacturing industry.The paper takes China Northern Rare Earth(Group)Hi-Tech Co.,Ltd.,the leader of rare earth industry in China as the research object,and builds a performance evaluation index system based on Balanced Scorecard.According to the four basic aspects of BSC,we should incorporate the social responsibility and environmental protection requirements of enterprises into the performance evaluation index system to enable North Rare Earths companies to maintain their current competitiveness,continuously improve their operation and management level,accelerate While adjusting the technological process,improve the environmental protection level,further integrate the resources,build brand-new value chain,increase the back-end value of the company's products.At the same time also for other rare earth enterprises or the performance of the rare earth industry to provide a set of evaluation for reference,effective performance evaluation index system.The writing of this article draws on a lot of literature,books and reports,builds the performance evaluation index system for North Rare Earth Company based on the four dimensions of BSC,combined with the characteristics of the production process of rare earth industry,meanwhile,Social responsibility and environmental protection requirements into the performance evaluation index system,as an external dimension.First of all,this paper introduces the theory of performance appraisal index system,paving the way for the construction of the next performance appraisal index system.Secondly,the paper introduces the basic content of BSC,introduces the four dimensions index system of BSC and their interrelationships,explains the prerequisites of using BSC for performance evaluation,introduces the technological process and characteristics of RE production And its impact on the construction of index system.Thirdly,it elaborates the objectives and principles that should be followed in the construction of performance evaluation index system of rare earth industry,and considers the factors influencing the construction of performance evaluation index system of rare earth industry in order to construct the index system more accurately.Fourthly,according to the objectives and principles of rare earth industry,combined with the characteristics of rare earth industry production process,we select the indexes from five dimensions of North Rare Earth Company respectively to construct the performance evaluation index system.Finally,it shows that North REEs should pay attention to what problems should be paid attention to when constructing the performance evaluation index system.It points out that when using the BSC to build the performance evaluation index system,the specific companies should not blindly start from the company's strategic goals and combine with the actual development level Apply other companies evaluation mode.