Application Of Balanced Scorecard In WJ Group Subsidiary Organizational Performance Management

Electricity is the forerunner of the national economy development,and neither economic development nor residents’ daily lives can be separated from electricity.In March 2002,the State Council officially approved the reform of the electric power system with the purpose of "separating power plants from the grid,bidding for the grid,breaking monopolies,and introducing competition".Since then,many power companies,including the five major power groups,State Grid,and China Southern Power Grid have emerged,and their competition has become increasingly fierce.Facing the challenges under the new situation,if Chinese power generation companies want to survive and develop in the competition,they not only need to actively adapt to the current power market demand,but also need to face up to their own management capabilities.It is not only necessary to obtain benefits from management,but also to realize the optimal allocation of enterprise resources and create value.The fundamental question is how to improve the organizational performance management level of power generation companies.For WJ Group studied in this paper,since its subsidiaries are divided into hydropower,thermal power,new energy and other different business forms.With independent types and different requirements,the problems existing in performance management are obviously different,which not only has the typical characteristics of the current large power enterprises,but also has the research value in line with the current national conditions and characteristics of state-owned economy.In addition,this article focuses on the internal management of WJ Group and analyzes the different problems existing in the subsidiaries,such as the uneven development of performance management,the "inertness" of performance management goals,and the insufficient understanding and implementation of performance management.According to the strategic objectives of the enterprise,the BSC was used to redesign the performance management of the subsidiaries of WJ Group.At the same time,the "four dimensions" were used to design the indicators,the weight of the indicators was assigned by the method of weight factor,and the performance of the design of three different business forms,namely hydropower,thermal power and new energy,was evaluated.At the same time,according to the real data of the group,the data of the new performance management model is compared to verify the rationality and scientific of the performance management model of the newly designed organization,explore and study the scientific performance evaluation mechanism,effectively tap the management potential,and continuously improve the operating efficiency and cost control of each subsidiary,environmental protection emissions and other aspects,use efficient management to win market competitive advantages.The evaluation index,weight distribution and score calculation method researched and designed in this paper are of practical significance for WJ Group to further carry out good performance management.Especially,it is rare to apply the theory of balanced scorecard to the performance management of the subsidiaries of power groups in China,which has important research value and has reference value for other state-owned enterprises,especially for the performance management of the subsidiaries of large electric power state-owned enterprises.