Research On Performance Evaluation Of Y Company Based On Balanced Scorecard

In recent years,the outbreak of COVID-19 and the spread of various mutant strains have posed a serious threat to people’s health.The pharmaceutical industry,especially traditional Chinese medicine,has played an important role in epidemic prevention and control,with remarkable specificity unmatched by western drugs.Y Company,as the leading enterprise of Chinese traditional medicine enterprises,takes the lead with Lianhuaqingwen series and develops rapidly.However,the relatively imperfect performance evaluation system invisibly restricts the progress of Y Company and covers up the problems under the exceed expected growth of financial indicators.Based on the above background,this paper adopts Balanced Scorecard and literature research methods to conduct research on Y Company,a listed company in the field of traditional Chinese medicine.First of all,by referring to relevant literature,this paper summarizes the research status of balanced scorecard at home and abroad,clarifies related concepts of performance evaluation and balanced scorecard,expounds relevant theories of corporate strategy,and demonstrates the appropriateness of using balanced scorecard.Secondly,it briefly introduces the development of Y company and its strategic goals,and analyzes the financial status of Y Company.Again,in combination with the practical situation of Y company and evaluate the characteristics of the balanced scorecard,from the strategic goal of company Y,SWOT analysis and the strategic target decomposition,coupled with four dimensions of balanced scorecard map out Y company strategy,carried out in accordance with the strategic map points dimension index selection,index weight using the Analytic Hierarchy Process(AHP)distribution,The balanced scorecard performance evaluation system in line with the strategic objectives of Y company is obtained,and then the data of Y company in recent five years are substituted into the balanced scorecard performance evaluation system for application,and the financial performance of Y company in recent five years is scored.Finally,according to the scoring results,the specific indicators of Y company in each dimension are analyzed,and four problems existing in its operation and development are found,and relevant improvement countermeasures are given.This paper aims to study Y company with the help of balanced scorecard,hoping to help Y company achieve strategic goals more appropriately,to achieve both short-term benefits and long-term development,and to provide reference for the industry.