Performance Evaluation Of Midea Group’s Digital Transformation From The Perspective Of Balanced Score Card

With the rapid development of science and technology,and the iterative updating of big data,Internet,artificial intelligence and other technologies,a new force of economic growth,the digital economy,has gradually emerged.In 2022,the added value of China’s digital economy will account for 39.5% of GDP,and the added value of the world’s digital economy will account for 45.0%.At present,the digital economy is becoming a new driving force for economic growth in China and the world.The following is the policy support.The report of the 20 th CPC National Congress pointed out that China is committed to building a modern industrial system,accelerating the construction of a manufacturing power and a digital China,thus promoting the high-quality development of China’s economy.As the foundation of our national economy and the backbone of the industrial economy,manufacturing has always played a very important role.In 2022,the added value of manufacturing industry accounted for 27.4% of GDP.The total volume of manufacturing industry has ranked first in the world for 12 consecutive years,which is the foundation of China’s industrial development.Thus,digital transformation has become the only way for Chinese manufacturing enterprises.At this time,based on the policy support,the intelligent transformation of the market,the personalized demand of consumers,and the intensification of industry competition,household appliance enterprises are also pushed to the forefront of transformation.This paper selects Midea Group,the leading enterprise in the household appliance manufacturing industry,as the research object,and uses literature research,case analysis and other research methods to study the impact of digital transformation on enterprise performance.First of all,this paper collects and sorts out the research findings of domestic and foreign scholars in relevant fields.Except for a few scholars who think the impact is not significant enough,most scholars hold a positive attitude.Secondly,this paper summarizes and expounds the relevant concepts of the study,and carries out the following analysis based on the theory of process reengineering,organizational change and contingency theory.Then,this paper briefly introduces the basic situation and development status of Midea Group,and summarizes the transformation factors,process and value creation mechanism analysis of Midea Group.Thirdly,based on the balanced scorecard theory,this paper vertically selects the data of Midea Group from the beginning of its digital transformation in 2012 to the present,and horizontally selects the performance data of Gree Electric Appliance and Haier Smart Home to analyze Midea from the perspectives of finance,customers,internal processes,learning and growth.Finally,the research conclusion is drawn.Midea Group’s digital transformation reshapes the value chain,improves the efficiency of enterprise operation,reduces operating costs,and thus achieves the effect of improving enterprise performance.Based on the above,this paper gets four research implications.First,enterprises should seize the opportunity of transformation and adapt to the needs of the times;Second,in the process of digital transformation,enterprises should maintain the consistency of strategic positioning and implementation of transformation;Third,in the era of digital economy,enterprises should increase their research and development efforts to enable the sustainable development of enterprises with science and technology;Fourth,digital transformation can upgrade the performance evaluation methods of enterprises.