Research On Consumer Finance Business Strategic Management Based On Balanced Scorecard

In recent years,with the "two carriages" of investment and export obviously slowing down in pulling China's economy,while the release of consumer potential is still insufficient,China's economy continues to face downward pressure.Consumption,as the "third carriage",is receiving more and more attention.To maintain the steady growth of consumption through the promotion of consumer upgrades,and thus lead the industrial upgrading,has become an important breakthrough point in China's current economic transformation.The development of consumer finance in China is slow,and has lagged behind the developed countries such as the United States and Japan for a long time.In this context,the State Council have issued a number of policies to support the development of consumer finance,consumer finance ushered in a new policy of the golden period.Commercial banks are the most important financial market intermediaries in which consumers hold assets and liabilities in China.They are an important part of the consumer finance system.With the rapid development of market-oriented interest rate and Internet banking in recent years,the traditional business model of commercial banks has been greatly challenged and profit margins have been gradually lowered.It's unavoidable for commercial banks to adjust the business model and change the direction of development.In this situation,the banks,invariably,seek to develop SME credit business and retail banking business,seeking business restructuring,to promote the diversification of asset structure.In the short term,the development of consumer finance business can actively cope with the challenges of Internet finance to traditional financial institutions,and avoid the great loss of customer resources and funds.In the long run,consumer finance will become the key growth point of commercial banks' retail banking business.To promote the strategic transformation of commercial banks is of great significance.Therefore,it is of great practical significance to clarify the current development situation of China's commercial banks'consumer finance business and find out the existing problems and optimize them.Bank B is a typical domestic city commercial bank,since its inception,its consumer finance business grounded breaking in the fierce competition in the Nanjing market,and has made a considerable market share after seven years of hard work.However,the current management of consumer finance business is still relatively extensive,many defects still exist,so,there is a lot of room for optimization.In this paper,based on the investigation of the current situation of the consumer banking business of bank B,this paper introduces the balanced scorecard strategic management tool for study.First,this paper briefly reviews the research status and basic theory of consumer finance and the Balanced Scorecard.Practice of the Balanced Scorecard in the banking industry are introduced,and lessons are learned through the analysis of two typical cases of domestic and foreign banks using the balance scorecard.Subsequently,the paper expounds the applicability and application steps of Balanced Scorecard in the management of consumer financial business.Then,the paper analyzes the current situation of the consumer finance business of bank B,the external environment,and explores the defects in its management.Finally,on the basis of Bank B's overall development strategy of consumer finance business,draws its consumer finance business strategy map,designs the key performance indicators of five dimensions including financial,customer,internal process,learning and growth,and risk management.Then put forward optimization scheme necessary for better achieving consumer finance business overall strategy from the five dimensions.Although this article focuses on the research of bank B's consumer finance business,it also has some reference value for the same type of commercial banks.