Research On EVA Value Management System Of HC Company

Basing on theory of "4M " Value Management system by Stern Stewart and Combining demonstration research on EVA Value Management of one GEM listed company, this thesis tries to bring forward "four footstones, five procedures and three Stages" of VBM EVA-oriented System and merge entirely EVA philosophy and instrument into the overall process of strategic management for enterprises.At the same time, in order to meet the wide need of implement policy of EVA value management for most domestic enterprises, especially the small and medium-sized private enterprises; this thesis establishes a system of EVA implement policy and route.First of all, this thesis brings forward the precondition, four footstones, to build Value Management. Effective adjustment on organization framework, financial statements, performance indicators and incentive mechanism of HC Company or other similar ones could offer them with essential implementation conditions.Next, this paper puts forward the implementation plans to construct Value Management, the five procedures. It includes EVA strategy formulation, EVA strategy deployment, EVA budgeting, EVA strategy implementation and EVA performance assessment process. Ensure effective operation of Value Management system, the five procedures should interrelate with each other to form a complete loop.In the end, it proposes the implementation steps to push Value Management, the three stages. Basing on the current management status of HC Company(as same as most small and medium-sized private enterprises),the author contrives a scheme of three steps basing on EVA Value Management system, which provides a clear graph of implementation path to push EVA revolution for HC Company or other similar ones.The innovation and value of this research is mainly manifested in the following two aspects:1. On the aspect of theoretical research, currently the domestic mainstream theory is that of "4M " Value Management system basing on Stern Stewart Company representative and developing from the basis of financial management. However, the author of this paper tries to bring forward "four footstones, five procedures and three Stages" of VBM EVA-oriented System and merge entirely EVA philosophy and instrument into the overall process of strategic management for enterprises. Therefore, this article is a supplement and improvement of "4M " Value Management system.2. On the other aspect of management practice, currently domestic enterprises are mainly central enterprises to carry out EVA performance assessment, which obviously lack of a systemic implementation plan of EVA value management system. Combing demonstration research on management practice of one GEM listed company, the author contrives a complete set of EVA value management system implementation plan and roadmap for small and medium-sized private enterprises, possessing significant value of reference.The implementation plan of Value Management system put forward by this paper is basing on the practical problems faced by HC Company. Expecting it can be of reference and popularization for more enterprises (especially small and medium-sized private enterprises). However, no scheme is universal and any one has limitations. Thus, different enterprises need to pay attention to the following two points, when the scheme in application to their managements.1. Different enterprises at different stages of development but have the same management maturity. Therefore, according to their own situation, they should make a flexible tradeoff of "453" implementation plan to get a suitable solution. For instant, adjust four footstones into three footstones, five procedures into three procedures and three stages into two stages or three years into five years.2. For specific details of operation, other enterprises should not imitate the implementation plan in a simply way, such as EVA bonus, bonus bank. All enterprises are not the same even in the same field. Each enterprise requires innovation basing on the implementation plan.