TITLE:
A Study of the Impact of Four Systems of Performance Management on the Realization of Strategic Objectives
AUTHORS:
Zhe Zhang, Hanxiang Liu
KEYWORDS:
Four Systems of Performance Management, Strategic Goal Achievement, Structural Equations
JOURNAL NAME:
Open Journal of Business and Management,
Vol.12 No.6,
November
21,
2024
ABSTRACT: In the context of continued economic downturn, interest rate marketization, opening up of the financial market to the outside world, and intensified regional competition, banks need to upgrade their power systems, closely integrate their own strategies, and stand at the height of the strategic overall design and implementation of performance appraisal systems, which can provide constant power for the banks to achieve their strategic goals. Based on the existing research results, this paper proposes that the four systems of performance management have a significant positive impact on the realization of strategic objectives, which is specifically divided into four sub-hypotheses; and then through the Likert scale questionnaire, the questionnaire is issued and recovered for the agricultural and commercial banks, and with the help of structural equations, these hypotheses are verified. The results show that the four systems of performance management also have a positive and significant impact on the realization of strategic objectives, while the institutional system and management system play a more obvious role in the realization of strategic objectives. Finally, the article presents relevant insights, which are expected to serve as a positive reference for banks.