Research On Performance Evaluation Of Innovative Enterprises Based On Balanced Scorecard

Innovation is the soul of a nation's progress and the inexhaustible motive force for a country's prosperity.Since the Nineteenth National Congress of the Party,the Party Central Committee,with Comrade Xi Jinping as its general secretary,has attached great importance to scientific and technological innovation,implemented the strategy of innovation-driven development,vigorously promoted comprehensive innovation with scientific and technological innovation as its core.The state's scientific and technological progress and innovative ability have been significantly enhanced,scientific and technological support has led to remarkable achievements in economic and social development.However,there are still many problems should be solved urgently in the work of scientific and technological innovation in China,such as decentralized resources of scientific and technological innovation,low efficiency of scientific and technological output,insufficient transformation of scientific and technological achievements,and so on.To break through the bottleneck of development and solve deep-seated contradictions and problems,innovation is the core lies in innovative enterprises.Innovative enterprises are becoming a new engine to break through economic growth,shift gears,structure optimization and power transformation.It is becoming more and more urgent to cultivate a number of innovative leading enterprises with outstanding core technical ability and strong integrated innovation ability.Performance evaluation is very important for innovative leading enterprises to enhance their innovative ability and core competitiveness.Strengthen the research on performance evaluation of innovative enterprises,on the one hand,helps managers to understand the comprehensive competitiveness to let them integrate the decision-making based on enterprise performance evaluation into the operation behavior and management process of enterprises easier;on the other hand,it can promote the concept and development strategy of enterprises.And the transformation will promote the establishment of a scientific and standardized enterprise performance management system.At present,there are few studies on the performance evaluation of innovative enterprises,and most of them focus on regions and industries.What's more,most of the performance evaluation systems are based on financial indicators which are lack of non-financial indicators closely related to innovative enterprises.Therefore,it is necessary to build an innovative enterprise performance evaluation system that takes into account both financial and non-financial indicators to strengthen the comprehensive and efficient evaluation of innovative enterprises.In this article,case analysis is used to select the typical innovative enterprise XH Company as the research object,using the concept of balanced scorecard,combining with the characteristics of innovative enterprises,to build a set of performance evaluation system suitable for innovative enterprises.At the same time,the performance evaluation system is applied to analyze the actual situation of enterprises,in order to provide useful reference for the development of innovative enterprises in China.The main contents of the article are as follows:Firstly,the concepts of innovative enterprises,performance evaluation and balanced scorecard are defined,and then the relevant theories of innovation theory,knowledge management theory and principal-agent theory and their specific applications are analyzed.Then,the case study of XH company is conducted,and its current performance evaluation is deeply analyzed to explore the defects and problems existing in the performance evaluation of XH company.Secondly,in view of the existing problems of XH company's performance evaluation,author finds that BSC is necessary and feasible for the construction of XH company's performance evaluation system.Subsequently,a set of performance evaluation system suitable for innovative enterprises is established by combining the ideas,principles and BSC concepts.Next,the weight of indicators is determined according to the principle of analytic hierarchy process,and then the scoring schemes of financial dimension and non-financial dimension are established respectively by using the efficiency coefficient method and fuzzy comprehensive evaluation method,and then the five performance evaluation grades are divided.Thirdly,the performance evaluation system constructed is applied to XH company for analysis.According to the financial data of the last three years in the annual report of XH company combined with the efficiency coefficient method,the financial dimension value of XH company was calculated.Then the fuzzy comprehensive evaluation method is used to calculate the three non-financial dimensions of XH company.Next,the comprehensive scores of XH company's performance evaluation in the past three years are summarized,and the conclusion that the performance evaluation results of XH company in the past three years are in the "medium" is drawn.Then the evaluation results are analyzed from the overall level,all dimensions and key indicators.Finally,XH company proposed the establishment of evaluation organization and create a good environment;Standardize the process design and clarify the rights and responsibilities;Pay attention to staff participation and enhance skills training;Establish feedback mechanism and perfect incentive system;Enrich the information management and optimize the evaluation index,etc.With all mentioned above,the performance evaluation system of XH company based on BSC can play an effective role.The innovative features and characteristics of this paper lie in expanding the research of performance evaluation to innovative enterprises,using the concept of balanced scorecard,synthesizing analytic hierarchy process,efficiency coefficient method and fuzzy comprehensive evaluation method to construct the performance evaluation model of innovative enterprises.In addition,the case study of the performance evaluation system of innovative enterprises is carried out to provide operational mode and management reference for the sustainable development of innovative enterprises in China.