Research On Performance Management Of Wudang Power Supply Bureau Based On Balanced Scorecard

As China has entered New Normal, Central Committee of the CPC and the State Council of the PRC started comprehensively deepening reforms, in which the reform of the electric power industry is an important part. The newly issued Opinions Concerning Further Deepening Reforms of Electric Power System, clearly states the fact that the Power Grid Companies have more competitive advantages than any other enterprise in the industry will be changed. Due to the macro economic deterioration, county power supply company, the county subsidiary of the power grid company which transmits, distributes and sells electric power, will have to strengthen internal management in order to gain time for transformation. But the traditional performance management has failed to meet the demands of New Normal, and caused many problems during its practice.Therefore, the reform of the performance management is imminent.The Balanced Scorecard(hereinafter to be referred as BSC), as a working performance management theory, can transform the strategic target of the company into a group of performance indicators which consists of indicators from four dimensions: financial, customer, internal business processes, learning and growth, which connects the core performances and key tasks of the company with every employees and makes the measurement of them possible. Make sure that all the efforts everyone from top to bottom made can benefit the company. For the performance management in county power supply company nowadays, BSC is the best tool. Because BSC not only works in performance evaluation, but also ensures that all production and business activities can enhance the competitiveness of company and promote the development of the company.Choosing Wudang Power Supply Company, a County subsidiary of China Southern Power as the research object, the paper puts forward new idea and method to solve its main problems in the performance management by constructing a complete performance management system based on BSC. Firstly, the paper studies the concept of performance management and the theory of BSC.Secondly, the paper mainly introduces the current situation of the electric power industry, the basic information on Wudang Power Supply Company, the circumstances along with the problems of its performance management. Then it analyses the problems of the performance management in depth and finds BSC is the best tool. In the process of constructing the performance management system of Wudang Power Supply Company, we first use the SWOT method to analyze the developmentsituation of Wudang Power Supply Company. As a result of the analyses we determine the strategic target of the company, draw the strategic map of the company and construct a group of performance indicators on the company level. For constructing the groups of performance indicators on the department and position level, we take the construction on the specific departments and positions as example, establish the different constructing method according to the type of the department and position. We also improve the process of the performance management of the company. In the end, by surveying the successful management experience the paper gives suggestions from principle, organization, training and communication to make sure the successful implement of the performance management based on BSC.