Use BSC to improve the internal system of Longwangzhuang Coal Industry Company

Abstract: Nowadays Balanced Scorecard management system is widely used in Europe country. What’s the BSC? Balanced Scorecard Performance management is a new way for assessment of the sector team. Balanced Scorecard is a Performance Evaluation System also. In the thesis, we want to check if the BSC could be used for a Chinese coal industry company. It was a good opportunity to see if the main principles of BSC depended on the culture, the place and the time, or if it was pretty much universal. So, we choose the Longwangzhuang coal Industry Company as our object to research and analysis. Longwangzhuang coal Industry Company created in 2003, located in Mianchi, Henan province. To begin with we provide a brief background on the Longwangzhuang coal industry company. We introduce the BSC and try to search and seek a suitable BSC management system which combined with the Chinese culture, special organization culture and structure. And we discussed the strategy and target with the CEO, analysed the company through information obtained from some documents and answers to questions we asked. Then we made a SWOT- analysis and form BSC four parts to recognise what the Company’s situation, what’s advantage and disadvantage of the company. After that we make detail BSC criterions, marks and analysis. There are six evaluations on internal process and four evaluations on innovation learning. Depends on these real evolutions we find out problem and give some advices to Longwangzhuang coal Industry Company. Sequentially, improve the internal system of this company. After all, our conclusion is with the improved strategy and target that is possible to use BSC to improve the internal system in Longwangzhuang coal industry. As long as under the corporate culture, enterprise development and management of basic to development their own BSC. That BSC can be widely used in Chinese enterprises also.