The Research On The Balanced Scorecard System Of Hunan Telecom Company Limited

As a kind of tool for strategic management and performance management, the Balanced Scorecard (BSC) provides a thinking mode for how to change a macro and abstract strategy into an operation scheme or a work plan. It puts the strategy on the company's core position in the management process, and describes the concrete embodiment of the strategy at all levels, such as the company's finance, customers, internal processes, learning and growth etc., by a scientific method. Moreover, it uses the way of performance management to implement the strategic elements, so the enterprise's strategy can be integrated into the business to achieve the performance outcome same with the strategy expectation.This paper takes Hunan Telecom Company Limited as an example, and uses BSC to explore how to introduce BSC into enterprises and apply it into the performance management process. By means of questionnaire, I find out that the staff's satisfaction with the current performance management system isn't high; and the most serious problem existing in the present status of Hunan Telecom's performance management is the discrepancy between the performance management and the strategy. The experience and lessons obtained during implementing BSC by many domestic and overseas enterprises especially the telecommunication enterprises provide valuable references for our BSC work.. Hunan Telecom shall keep to the basic principles such as fairness, excitation, and competitiveness, etc. while implementing BSC management; the implementation procedures shall be: preparing (modifying) BSC, working out BSC-based performance plan, conducting performance assessment, and modifying the plan, etc. Of which, stresses shall be put on the establishment of strategic map, the decomposition of strategic index, the construction of BSC, the compilation of performance plan, and the implementation of performance assessment etc. It is estimated that the implementation of BSC in Hunan Telecom may standardize the performance management, convert the conception, and effectively actualize its enterprise strategy. To implement BSC in Hunan Telecom, it is required to establish a strategy execution leading team, integrate the enterprise organizational structure, offer performance guidance, improve the salary system, and constantly improve the BSC plan according to the development so as to achieve the sustainable development.