Research On Enterprise Strategy Implementation Based On Balanced Scorecard

On the background of economic globalization, competition between enterprises is increasingly fierce, thus strategic insight has been a determining factor of enterprise survival. Many enterprises have realized the importance of strategy, and began to strengthen the analysis and formulation of strategy. However, these strategies are often stashed away rather than implemented. Scholars' researches on strategy also focus on the formulation and selection of strategy, rather than the implementation of strategy. The Balance Scorecards(BSC), a performance evaluation tool, has realized a significant transformation from performance evaluation to strategy implementation. Combined with Strategy Map and Organize Cooperate, it decomposes the enterprise's strategy per layer from each business unit to the individual person, and then combines the sub-goals with their job responsibilities, to finally realize the good operation of the enterprise's strategy implementation mechanism. Today, in the increasingly competitive condition, the full use of Balance Scorecards in strategy implementation is of great significance to enterprise's survival and development.Strategy implementation has been an important measure of promoting enterprise's competitiveness. To build a BSC ' s operative system, this paper makes a study of the following three aspects: First, in a careful analysis of previous studies on BSC, strategy implementation and the application of balance scorecards in strategy implementation, the difference between domestic and foreign studies is reviewed through comparative analysis. Second, sum up the theories of BSC and strategy management the basis of previous related studies.Based on the analysis of related literature and books, this paper establish a BSC's operative system of mission, vision, strategic objectives, strategic maps and indicators, sub-strategies of each business unit and the individual person. This part focuses on the detailed analysis of general strategic targets and general index based on BSC's to realize the innovation of study angle.To make the BSC's operative system implemented more effectively, the design of TH Company's BSC operative system is based on the related theories and field investigation. Firstly, the relationship among four strategic objectives in corporate finance, customers, internal processes, learning and growth is described by strategic maps, so that the strategy can be understood and disseminated easily. Then, with the application of BSC, translate the strategic target into quantifiable targets and action plans, and decompose the enterprise's strategy per layer from each business unit to the individual person, in order to make the strategyfully implemented into every unit and employee. At last, the suggestions for BSC's strategy implementation are proposed, which include establishing a strategy implementation sector, improving the supporting system, developing strategy implementation training, full participation of senior leaders, correct attitude towards the relationship between cost and benefit of BSC, etc.