The Blockchain Balanced Scorecard: An Innovative Approach to Facilitate Strategic Management in Enterprises

Abstract

Technological and organizational barriers can be significant obstacles to adopting blockchain technology in enterprises. Its introduction regularly creates complex interdependencies and poses a challenge to aligning business processes and information technology. Therefore, it is essential to consider the adoption impact from a technical perspective and take the strategic implications into account. To achieve this, we propose a novel domain-specific extension of the well-established Balanced Scorecard method that explicitly considers blockchain-related aspects on the strategic level of organizations. The application of this method is demonstrated with the help of an industry use case. Practitioners will benefit from adopting the proposed approach and following the described guidelines since it helps them to identify appropriate goals and measures. This paper encourages further efforts in the field of strategic management research and the alignment of blockchain technology and business processes.