Research On HZ Company Performance Management Based On Balanced Scorecard

Currently,foreign aero-bearing occupied the majority of domestic market and core technologies of aero-engine main shaft bearings are strictly blocked by the West.HZ Company,as the only bearing research and development enterprise in AECC Group,shouldered the mission of revitalizing domestic aero-bearings.However,HZ Company has not established a completed performance management system.Performance management is the core to enterprise management,for it could promote competence.So an effective performance management system must be established in HZ Company in order to promote its ability of self-development.HZ Company,according to outer environments and inner conditions,chooses BSC.This paper first illustrated BSC theory.It is an advanced performance management measure that originated in the West.The next chapter made a brief introduction to HZ Company and put forward the problems that exist in its management system.According to BSC theory,this paper made an analysis on its outer and inner environment and drew a strategy map.In conformance to the principle of strategic orientation,strategies were broke up into corporate level assessment indicators at four dimensions,these indicator were then broke into department level and personal level assessment indicators.This paper established an performance management system for HZ company and the steps of management feedback and performance improvement were added at the end of performance assessment.Communication and improvement were made during the process of implementation,thus to continuously optimize performance management system.When establishing this system,other systems such as budget,salary and enterprise culture were linked in order to form a dynamic and interactive management system.The last is to guarantee the implementation of this system.HZ Company founded a performance assessment team,conduced publicity and trainings before implementation and take some incentive measures.By applying BSC theory,HZ Company could improve its performance management level and its whole operation level.At the same time,BSC could increase economic benefit and realize the combination of strategy management and performance management.