Research On Performance Evaluation Of MG Co.,Ltd.based On Triple Bottom Line

Iron and steel industry is a pillar industry in China’s national economy,which plays an important role in promoting the development of downstream industry chains such as construction and infrastructure,aerospace,railway,machinery,automobile and home appliances.However,with the impact of supply-side structural reform,excessive environmental pressure,insufficient industry prosperity and the ravaging of COVID-19 in recent years,the iron and steel industry has suffered a continuous winter.In order to ensure growth and promote development,iron and steel enterprises need to accelerate transformation and upgrading to achieve sustainable development.Can through the enterprise performance evaluation to the enterprise the management benefit of an operating period,make comprehensive evaluation can be found in the process of evaluation of enterprise and the disadvantages of was improved,but the traditional enterprise performance evaluation mainly focus on the economic efficiency and operating results,ignored the environmental protection and social responsibility for the sustainable development of the enterprise.As one of the important iron and steel production enterprises in China,MG Co.,Ltd.is also facing the above problems in the current enterprise performance evaluation.Therefore,it is necessary to establish a set of corporate performance evaluation system that can reflect its financial status,environmental protection and social responsibility performance,so as to comprehensively measure the sustainable development status of enterprises and improve the deficiencies.This paper takes MG Co.,Ltd.as the research object,evaluates its corporate performance based on triple bottom line and puts forward improvement strategies.Firstly,through literature analysis,this paper combs the previous domestic and foreign researches on "enterprise performance evaluation" and "triple bottom line theory".Secondly,the relevant concepts and theoretical basis of triple bottom line,stakeholders,sustainable development and enterprise performance evaluation should be clarified.After that,the case analysis method is used to analyze the operating status,environmental responsibility and social responsibility of MG Co.,Ltd..Meanwhile,the status quo of MG Co.,Ltd.performance evaluation is introduced,the problems existing in current performance evaluation are pointed out,and the necessity of introducing triple bottom line theory for performance evaluation of MG Co.,Ltd.is expounded.Next,from the perspective of stakeholders,taking the triple bottom line as the framework,the corporate performance evaluation index system including 27 indicators from the three dimensions of finance,environment and society was constructed for MG Co.,Ltd..Then,the established enterprise performance evaluation system is applied to MG Co.,Ltd..Through the entropy-weight TOPSIS model and comparative analysis method,the enterprise performance is compared vertically and horizontally.The analysis shows that the overall performance of MG Co.,Ltd.is general and there is a large space for improvement.Finally,the paper puts forward three strategies to improve the financial performance,strengthen the level of environmental management and fulfill more social responsibilities for the shortcomings of MG corporate performance,in order to have a beneficial impact on its corporate performance.