Research On Budget Management Of WB Electric Appliance Group Company

With the slowdown of China’s macroeconomic growth,the attitude of Chinese residents to consumption has begun to be cautious.Coupled with the decline in the real estate market,the pulling effect of new homes on home appliance demand has weakened.Multiple factors have led to the slowdown in China’s home appliance industry growth and industry growth significant changes have taken place,the entire industry’s living environment has become more complex and industry competition has become more intense.In order for home appliance companies to survive,they must formulate clear strategic goals and achieve them through appropriate channels.Budget management can help companies to implement the strategy.Budget management is the overall arrangement of all economic activities during the budget period.And the process of carrying out control,evaluation and other activities with the budget as the standard is ultimately to achieve strategic planning and business goals,so it is very necessary for home appliance companies to establish a strategy-oriented budget management system.However,many home appliance companies,including the WB Electric Appliance Group Company,did not integrate strategy and budget management well when implementing budget management.Budget management stayed at the level of financial budget management,which led to a way to achieve strategic goals.And helping such home appliance companies to improve the existing budget management system and realize the integration of corporate strategy and budget management will help these companies achieve their strategic goals,form their core competitiveness,complete transformation and deal with the business risks brought by industry changes.At the same time,it can theoretically enrich and improve the budget management research of the home appliance industry.This article selects WB Electric Appliance Group Company as the research object and firstly explains the current status of the company’s budget management application.Based on the related theories of budget management,it analyzes the problems existing in each key link of the company’s budget management and delves into the reasons for the problems.Finally,improve the existing budget management system of WB Electric Appliance Group Company from a strategic perspective and help the company achieve the connection between strategy and budget management with the balanced scorecard theory,incentive theory and the budget management process based on the balanced scorecard.The research conclusion is that budget management should not only focus on the financial level,but also establish a budget management system with a strategic orientation and then ensure that limited resources could be allocated to economic activities that are conducive to the development of enterprises.The introduction of the balanced scorecard into the budget management system can closely link budget management and strategy,so that budget management is always carried out in a strategic direction,and then the strategic goals could be achieved.