| With the development of social economy,the trend of globalization has become more and more obvious.Internet technology has turned the world into a "plane",and the economic,political,social and cultural interactions between countries have become closer.However,the internal resources and market resources of each country are limited,which leads to trade exchange between countries,and globalization develops.With strong capital and a well-developed market system,large-scale enterprises are considering entering foreign markets to make a further develop.However,due to the lack of globalization resources,the characteristics of industries,and the high degree of localization,it is difficult for them to achieve globalization goals.If they do not improve strategic model and blindly pursue globalization strategy,they will lose a lot.If you use bronze as a mirror,you can correct your clothes;if you use history as a mirror,you can know the rise and fall.As a Hong Kong-listed company in 2007,Fosun’s philosophy of "local roots and global resources grafted onto Chinese power" has led its development.As of December 2021,Fosun has invested in four major sectors: health,happiness,prosperity and smart manufacturing,with total assets of RMB 806.4 billion.It is ranked459 th in the Forbes Global 2000 list.This paper takes Fosun as an example to launch a performance evaluation study of globalization strategy,with a view to providing reference materials for other enterprises seeking globalization.At present,domestic and foreign research on globalization strategy is very informative,mainly around the development of enterprises’ s globalization strategy.The research about evaluation mainly around the history of performance evaluation,index system,and more often the financial performance evaluation method.However,the examination of performance evaluation and operation based on globalization strategy is yet to be improved.Therefore,this thesis proposes a study on performance evaluation of globalization strategy-taking Fosun as an example.First we briefly introduce the basic situation of Fosun and its globalization strategy,and use the SWOT model to sort out the background of globalization development and the environmental basis.Then,we analyze the motivation of it’s globalization strategy and business model by using the business canvas.Second,the overall effects of Fosun’s globalization from four different perspectives: first,the changes in the overall operating scale and overseas non-current assets after the globalization strategy;second,the market effects based on Tobin’s Q;third,the financial effects of Fosun through the four improved financial dimensions;fourth,the social tax contribution,donations,and ESG index,etc.Besides,the market performance is evaluated by using the market event method and Fosun’s feedback from the market under its foreign investment activities;the ratio is confirmed by AHP hierarchical analysis,and the efficacy coefficient method is combined with the standard values of corporate performance evaluation to make a comprehensive evaluation of Fosun’s performance situation,and the F-value is used as a verification supplement of the former to overcome its slightly subjective drawback.Finally,based on the previous findings,the whole paper is summarized and future research outlook and areas for improvement are proposed.The study finds that Fosun’s overall investment philosophy and model has its own characteristics compared to other domestic and international companies.Although the development of Fosun has its successes in the industry,there are also situations including debt structure to be optimized low efficiency of asset management,mismatch between investment speed and return,and fluctuating cash flow situation.In this regard,this paper proposes to optimize debt excuses to control risks,enhance asset management to improve efficiency,strengthen core segments to improve returns,and optimize resource integration to stabilize cash flows.It is hoped that these experiences and suggestions can provide reference for other private enterprises that want to go abroad for overseas investment. |
