Can digital transformation be measured from a strategic perspective? Some evidence based on content analysis in the banking and clothing industries

Digital transformation is widely recognized to be a key issue in contemporary management studies. The area is attracting increasing attention because of both the general trend of the growing importance which digital technologies play in the present society, as well as the ways companies are using digital technologies to improve their competitive advantage. As a result, digital transformation is a subject of a growing number of papers, research, and managerial publications. The main aim of this work is to propose and validate a method to measure the phenomenon and its role in companies' strategies, and to gather information on strategic directions for digital transformation in enterprises. This paper presents an overview of the literature discussion on digital transformation. A method to study directions of digital transformation in enterprises is demonstrated. It is based on the content analysis methodology and is used to study a choice-based sample of companies listed on the Warsaw Stock Exchange. The research carried out offers preliminary evidence supporting the conclusion that digital transformation is a phenomenon which can be measured with the content analysis framework. The findings also outline strategic directions for digital transformation and shed light on possible variables influencing the process.