Performance Evaluation Of Fuyao Group Based On Life Cycle Theory

As the main body of national economy,manufacturing industry fully reflects the comprehensive national strength of a country.In 2013,the concept of industry 4.0 was put forward,and all countries in the world began to put forward their ideas of manufacturing power in the new period.In 2015 work report of the two sessions,"made in China 2025" has been put forward for the first time,this also is our country’s blueprint for manufacturing development in the national strategic level,hope through the layout change our country the current manufacturing woes--manufacturing big but not strong,made in China to metamorphosis of made in China,and over time,gradually into the manufacturing power.If we want to develop manufacturing industry,we should not only have a suitable market environment,but also have a suitable development strategy.Of course,a scientific and reasonable performance evaluation system is needed to evaluate and guide the development status of enterprises whether the development strategy is appropriate and whether it can be a help to promote the progress of enterprises.Fuyao Group,as a typical manufacturing enterprise in China,has surpassed asahi glass in 2021 and become the world’s first in the industry,which is the embodiment of the practice of "Made in China 2025".This paper hopes to build a set of performance evaluation standard system suitable for manufacturing enterprises through the establishment of the objective performance evaluation system of Fuyao Group.It also provides basis for manufacturing investors to choose investment objects.First of all,this paper reviews the research results of previous scholars on enterprise life cycle and performance evaluation,and makes a comparative analysis of the results of domestic and foreign scholars.Then the principal-agent theory and stakeholder theory are stated,which fundamentally clarify the necessity of performance evaluation and the scope of performance evaluation.Then the framework theory of performance evaluation,enterprise life cycle theory and balanced scorecard theory,are briefly summarized.It provides theoretical support for the following performance evaluation research.Secondly,the general situation,industry characteristics,internal and external environment of Fuyao Group are briefly described,and then the cash flow group method is used to judge the life cycle period in the near stage of the enterprise,and the strategic objectives and operation characteristics of fuyao’s current life cycle stage are analyzed.Thirdly,according to the development strategy characteristics and key performance factors of Fuyao Group’s life cycle stage,a performance evaluation index with the characteristics of Fuyao Group is designed,and the index weight is determined by using the entropy weight method.Then,the performance evaluation system of Fuyao Group is constructed based on the four theories mentioned above.The performance evaluation system is used to evaluate the performance of Fuyao Group,and the results of the performance evaluation are obtained.Fourthly,according to the results,analyze the overall situation of Fuyao Group’s performance and the places that need to be adjusted,and put forward the next step of performance optimization suggestions.It provides intelligence support for the performance evaluation of other manufacturing enterprises.Fifth,conclusion and prospect.First of all,according to the life cycle theory,according to the strategic characteristics of the mature period of Fuyao Group,the design of the index system,not only according to the enterprise’s own operating characteristics of its evaluation,but also makes the selection of indicators more objective,conducive to the comparison between different enterprises.Secondly,based on the four dimensions of the BALANCED scorecard,this paper combines the long-term and short-term goals of the enterprise to make the evaluation results more complete and real,and meet the requirements of the enterprise performance evaluation goals.It not only involves the results of enterprise operation,but also analyzes the process of enterprise operation and the potential of enterprise future development,so that the problems in current operation and management can be found and solved as soon as possible.For external investors and manufacturing enterprises in the same industry,objective and reasonable performance evaluation indicators are more conducive to investors’ analysis of enterprises,and more reference for enterprises in the same industry.