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Reports of the high percentage of failed digital transformation ventures motivate the need to find a comprehensive framework with regulatory attributes to support these initiatives. Due to its structure, consistent strategy decomposition capabilities, and strategic map architecture, the assumption is that a customized version of the Balanced Scorecard can ensure the better overall success of digital transformation projects. The qualitative analysis methodology was applied to previous research, and this study identified critical issues and challenges related to the strategy and overall endeavor of digital transformation. Based on the methodology of the traditional Balanced Scorecard, a draft version of the Digital Balanced Scorecard was formulated. The Digital Balanced Scorecard is a comprehensive, primarily prescriptive model that is focused directly on the challenges, opportunities, and obstacles of transformation. The proposed BSC model can consistently interpret a digital strategy and assist organization leaders in successfully formulating and coordinating all necessary activities and projects to apply technologies. The Digital BSC provides the projection of financial results and improvements in sustainability after transformation. The proposed solution to support digital transformation can accelerate an organization’s development, improve efficiency, and strengthen efforts to achieve an organization’s sustainability goals.
Digital transformation is created by applying several vital new technologies, including mobile work, cloud computing, IoT, big data, artificial intelligence, process robotization, and 3D printing. DT denotes the introduction and application of new technologies in a business model that contribute to the improvement of organizational processes, creating new methods of value creation, the delivery of digitalized services and products, and better fulfilling of the needs of customers and clients [1, 2]. The implementation of digital transformation is also characterized by changes in the organizational domain, not only in the technological field. Although there may be reasoning behind introducing and implementing one of the above technologies when a particular company is considered, these arguments are not always part of the organization’s strategic plans.
Another crucial strategic element is the totality of initiatives and activities whose implementation is necessary, which are prerequisites for the effectiveness of digital transformation in an organization. However, these do not fundamentally depend on digital resources or outcomes. These activities concern human resources and skills, management and leadership training, organizational structure, organizational culture, agility, innovations, and similar concepts. Since digital transformation is an organizational change that encompasses much more than the purchase of equipment and the deployment of technology, the success of digital transformation needs to be considered through the prism of organizational initiatives that are aimed at realizing specific organizational (higher-level) goals. Therefore, digital transformation initiatives must be integrated into an organization’s strategy and development implementation plans. The process of devising a way to make that happen occurs under complex conditions that require the consideration and prioritization of initiatives, projects, and activities that are characterized by advanced technologies.
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DT research indicated the primacy of strategy over technology [3, 4]. The strategy of using digital transformation as the essence of the plan for the application of digital solutions in the physical domains of business, i.e., the creation of value through service and production, should have systematic organizational support. To provide a tool for such support that can monitor activities and projects [5, 6], a modified BSC system was created.
A globally popular system to support strategic planning and management was created by Norton and Kaplan in the 1990s. This system, entitled the Balanced Scorecard (BSC), is a framework that was initially aimed at measuring an organization’s strategic performance. Over the last two decades, reports concerning the application of the BSC by leading companies in different sectors have been published [7], and its successful implementation in the public sector was also recorded by various authors [8, 9]. 2GC management consultancy published the Balanced Scorecard Usage Survey 2020, based on completed questionnaires from 21 countries [10]. Well-informed managers in corporate or employee roles participated, which guaranteed that quality answers were provided. The summary of findings (p. 4, [10]) states that the frequency of use of the Balanced Scorecard in organizations is dominated by the domain of strategic management (88%), followed by operational management (63%) and reporting (58%).
The main starting point in recommending the BSC system is to avoid exclusively focusing on finances at the cost of neglecting other critical objective areas. The financial result should be considered a consequence, while applying the BSC system should enable managers to identify and encourage actual growth drivers that lead to success. The BSC system balances traditional financial measures with essential non-financial perspectives: customers, internal business processes, and organizational learning and growth. Furthermore, the motivation for creating the BSC model of performance measurement is firmly founded on two identified strategic issues:
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The Balanced Scorecard system was devised to reduce the gap in item 1 above and to discourage the neglect of investment in growth and learning in the organization (item 2). The use of employing a BSC framework in strategic maps as simple graphical representations of the cause-and-effect relationships between goals and measures within the four BSC perspectives [12] strengthens strategic communication in practice and contributes toward gaining insight into the value-creation process. The realization of a particular goal is ensured by the formulation of appropriate activities or projects.
The following section considers previous research on this topic, identifies the research gap, and formulates research questions. Next, we provide a short overview of the digital transformation phenomenon, critical issues and challenges, and the basics of the Balanced Scorecard system. Finally, we discuss the potential and expectations from the BSC application to improve the DT strategy and initiatives implementation.
Schallmo et al. [13] proposed a definition of DT that focuses on the value chain, networking, and application of new technologies. According to these concepts, DT requires data manipulation skills (exchange, conversion, analysis, and similar). Information obtained from the data is utilized effectively in decision making and activity initiation to increase organizational performance. DT’s focus should not be on technology, as highlighted in Westerman [14]. It was shown that the focus should be on (organizational) strategic transformation rather than adopting new technology that facilitates results. A well-known article by Deloitte analysts, which was published in the MIT Sloan Management Review [15], pointed to the absence of a strategy as an issue associated with digital transformation. In a study on attitudes toward digital strategy, only 52% of respondents reported that they “agree/strongly agree” with the statement “Our organization has a clear and coherent digital strategy” [15]. A considerable body of literature highlights the issue of the DT strategy since numerous cases of organizations have demonstrated that their managers do not possess a clear comprehension of strategic concepts in their digital transformation ventures [1, 16, 17]. A company’s digital transformation strategy comprises more than merging its business strategy and information system strategy or information technology [18]. At the strategic level, vision comes before strategy development. As reported by Fitzgerald et al. [2], as many as 93% of respondents believed that sharing a digital transformation vision was positive, while that view was shared by only 36% of CEOs.
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In their analysis of automobile companies, Chanias and Hess [19] reported that before a digital strategy is formulated by management (the top-down approach), the so-called realized (digital) strategy will have already been developed on the part of organizational sub-units through bottom-up process activities. Corporate leaders have the most significant responsibility regarding strategy; therefore, we also expand the associated analysis in this segment. The issue of leadership in digital transformation is discussed in a paper written by Schrage et al. [20] in which the existence of a digital gap concerning leadership is established. The conclusions of this study were based on data collected in the MIT Sloan Management Review and Cognizant survey conducted among 4296 global leaders to determine their attitudes toward the future of leadership in organizations [21]. Although the respondents agreed that an essential factor in the future success of their organizations would be the presence of a sufficient number of digitally savvy leaders, only 31% of the answers were positive when asked whether the improvement
The Balanced Scorecard system was devised to reduce the gap in item 1 above and to discourage the neglect of investment in growth and learning in the organization (item 2). The use of employing a BSC framework in strategic maps as simple graphical representations of the cause-and-effect relationships between goals and measures within the four BSC perspectives [12] strengthens strategic communication in practice and contributes toward gaining insight into the value-creation process. The realization of a particular goal is ensured by the formulation of appropriate activities or projects.
The following section considers previous research on this topic, identifies the research gap, and formulates research questions. Next, we provide a short overview of the digital transformation phenomenon, critical issues and challenges, and the basics of the Balanced Scorecard system. Finally, we discuss the potential and expectations from the BSC application to improve the DT strategy and initiatives implementation.
Schallmo et al. [13] proposed a definition of DT that focuses on the value chain, networking, and application of new technologies. According to these concepts, DT requires data manipulation skills (exchange, conversion, analysis, and similar). Information obtained from the data is utilized effectively in decision making and activity initiation to increase organizational performance. DT’s focus should not be on technology, as highlighted in Westerman [14]. It was shown that the focus should be on (organizational) strategic transformation rather than adopting new technology that facilitates results. A well-known article by Deloitte analysts, which was published in the MIT Sloan Management Review [15], pointed to the absence of a strategy as an issue associated with digital transformation. In a study on attitudes toward digital strategy, only 52% of respondents reported that they “agree/strongly agree” with the statement “Our organization has a clear and coherent digital strategy” [15]. A considerable body of literature highlights the issue of the DT strategy since numerous cases of organizations have demonstrated that their managers do not possess a clear comprehension of strategic concepts in their digital transformation ventures [1, 16, 17]. A company’s digital transformation strategy comprises more than merging its business strategy and information system strategy or information technology [18]. At the strategic level, vision comes before strategy development. As reported by Fitzgerald et al. [2], as many as 93% of respondents believed that sharing a digital transformation vision was positive, while that view was shared by only 36% of CEOs.
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In their analysis of automobile companies, Chanias and Hess [19] reported that before a digital strategy is formulated by management (the top-down approach), the so-called realized (digital) strategy will have already been developed on the part of organizational sub-units through bottom-up process activities. Corporate leaders have the most significant responsibility regarding strategy; therefore, we also expand the associated analysis in this segment. The issue of leadership in digital transformation is discussed in a paper written by Schrage et al. [20] in which the existence of a digital gap concerning leadership is established. The conclusions of this study were based on data collected in the MIT Sloan Management Review and Cognizant survey conducted among 4296 global leaders to determine their attitudes toward the future of leadership in organizations [21]. Although the respondents agreed that an essential factor in the future success of their organizations would be the presence of a sufficient number of digitally savvy leaders, only 31% of the answers were positive when asked whether the improvement
