Research On WQR Steel Company Comprehensive Budget Management Optimization Based On Balanced Scorecard

In the complex market competition environment,if any company wants to achieve long-term development goals,it must first clarify its own strategic positioning.In daily production and operation activities,the strategic objectives must be refined,and the refined strategic objectives are reflected by budget management.If budget management works well,it can point the way for the company's future development and ensure that the company's operations will not deviate from the established path;if the effect is not good,the company's planning will lose its binding force,and the company's business objectives may not be achieved.An ideal comprehensive budget management system should closely integrate the company's strategic goals,fully consider the company's internal conditions and external objective environment,have a sound organizational structure,a scientific and reasonable preparation process,a strong supervision of the implementation process,a well-founded adjustment process,and a rigorous evaluation process,forming a tight closed loop process.The balanced scorecard has been maturely used in the field of performance evaluation.In recent years,more and more scholars have applied the balanced scorecard to overall budget management,especially in the budget preparation and evaluation process.The budget should be planned for future development based on past performance.The balanced scorecard can scientifically evaluate past performance.The close combination of the two can promote the soundness of the overall budget management system and achieve the ideal budget effect for evaluating and promoting reform.This paper firstly uses the research integration method to sort out the domestic and foreign scholars' efforts in comprehensive budget management,balanced scorecard and the research results of the integration of the two provide a theoretical basis for the research of this paper.Then,by investigating and sorting out the internal data of WQR steel company,we can understand the company's organizational structure and the current status of the overall budget in terms of preparation process,execution and control,evaluation and incentives,and analyze the company's overall budget management problems,such as budget management and the strategic goals are out of touch,budget preparation is unscientific,budget execution and control are not rigorous,and budget assessment and incentive mechanisms are ineffective.Next,use the advantages of the balanced scorecard to optimize its overall budget management system,decompose the company's strategic goals,and transform them into specific indicators under each dimension of the balanced scorecard.Based on this,prepare company and department budgets,and combine the balanced scorecard to implement rewards and punishments for the evaluation indicators and implementation conditions set by eachdepartment,and provide a reference for future budget re-implementation.Finally,this paper also puts forward the safeguard measures for the implementation of comprehensive budget management based on the balanced scorecard for the difficulties that may be encountered.Through the introduction of a comprehensive budget management system optimized by the balanced scorecard,it will help WQR steel company to reasonably determine its strategic goals and budget goals and achieve long-term sustainable development.