W Company Based On The Balanced Scorecard Performance Management Systems Study

A scientific performance appraisal system and management system is a decisive factor for a successful enterprise, if it wants to foster a competitive advantage, to maintain the correct implementation of the strategy, to enhance the core competitiveness, and to transfer the core competitiveness into measurable organizational performance and individual performance. The Balanced Scorecard performance management system is conducive to achieve the strategic objectives of an enterprise, to enhance the competitive advantage of an enterprises, and to cultivate the core competitiveness of an enterprises. From the early1990s, W began to get involved in microwave products. After a decade of development, it has become one of the industry leaders, continuing to outperform its competitors in both the industrial scale and product technology, and now it is the world’s largest microwave industry base, and has been ranked the top two in the world’s microwave industry. Facing the critical moment of the company restructuring, this paper explores the establishment of a matched strategy performance management system for W during its transition process, so as to enhance the company’s overall organizational performance, as well as to consolidate its leadership position in the industry.Through analyzing the enterprise performance management system and the theory of the Balanced Scorecard, and summarizing and describing the performance management systems home and abroad, this paper focuses on the generation, the basic content, and the nature and the function of the Balanced Scorecard. This paper analyzed the organizational structure and the employees’ status of W, summarized the present situation of W’s performance management, and put up some main problems of W’s performance management system, and then made SWOT analysis and strategic analysis on W, so as to evaluate the necessity and the feasibility of implementing of the Balanced Scorecard performance management system, based on these, designed a Balanced Scorecard performance management system for W. Develop the corporate strategy map, describe the company’s strategic theme, develop the performance goal of company’s Balanced Scorecard, decompose the performance indicators, as well as analyze and filtrate the performance indicator, set the weight and the target value of performance indicator, develop the programs and plans of the company’s action. At the same time, this paper also includes the operation and management of the Balanced Scorecard, such as the development of management processes, the integration of the Balanced Scorecard and the planning of the company and the departments, and also the work plan, the implementation and data collection of the Balanced Scorecard, establishment of quarterly review meetings, in order to establish a performance management strategy based on the Balanced Scorecard. W transferred the strategy into action through the Balanced Scorecard, and transferred the strategy into daily work through strategy maps and action plans, effectively soluted the problems of strategy implementation and performance improvement. Based on the performance management system of the Balanced Scorecard, this paper linked the department target, individual target and the company target together by strategy. It is of great importance for W to cope with the market competition and to achieve the status of the industry leader.