ABSTRACT
The impact of Knowledge Management in the performance of
commercial banks can be seen as an integrated approach to achieving
organizational goals by placing particular focus on “knowledge”, now considered as the new factor for production. The transfer of knowledge is, in fact, the essence of knowledge management.
This research work looked into the impact of
knowledge management in performance of commercial activities of Guaranty Trust
Bank Plc, how it harnesses the huge knowledge deposits residing in its tacit
environment (the minds of her staff) to create a synergy which in-turn
transforms the bank. The main source of data
used in this research is both primary and secondary data. Secondary data
consisted of data from already published materials such as; text books,
journals, the internet, academic dissertations, workshop papers and annual
reports. Primary data was collected through the means of questionnaires. This
consists of data collected from the field survey. This source of data formed
the basis of analysis in this study. The research
established the importance of knowledge management practices within Guaranty
Trust Bank Plc. It confirmed the support given to knowledge management by the
top management of the bank. It also emphasised the benefits of knowledge
management practice in the banking industry.
TABLE
OF CONTENT
TITLE
TABLE
OF CONTENTS
ABSTRACT
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Significance of the Study
1.6 Scope of the Study
1.7 Definition of Terms
CHAPTER TWO
LITERATURE
REVIEW
2.1 Profile of the Case Study
2.2 Understanding the Concept of Knowledge
2.3 Types of Knowledge
2.4 The Knowledge Challenge
2.5 Defining Knowledge Management
2.6 Aspects of Knowledge Management
2.7 Pillars of Knowledge Management
2.8 Measuring Knowledge Management
2.9 History of Knowledge Management
2.10 Generations of Knowledge Management
2.11 Elements of Knowledge Management
2.12 Knowledge Sharing and Enrichment
2.13 Knowledge Management Tools
2.14 Implementation of Knowledge Management
CHAPTER THREE
RESEARCH
DESIGN AND METHODOLOGY
3.1. Research Design
3.2. Sources of Data
3.3. Population of the study
3.4. Determination of Sample Size
3.5. Research Methodology
3.6. Administration of the Questionnaire
3.7. Method of Data Analysis
3.8. Procedure for Processing and Analysing
Data Collected
CHAPTER FOUR
DATA
PRESENTATION AND ANALYSIS
4.1 Data Presentation
4.2 Response of Respondents
CHAPTER FIVE
SUMMARY
OF FINDINGS, RECOMMENDATION AND CONCLUSION
5.1. Summary of Findings
5.2. Conclusion
5.3. Recommendation
BIBLIOGRAPHY
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF STUDY
Knowledge
is increasingly being recognized as the new strategic imperative of
organizations. The most established paradigm is that knowledge is power.
Therefore, one has to hoard it, keep it to oneself to maintain an advantage.
The common attitude of most people is to hold on to one’s knowledge since it is
what makes him or her an asset to the organization. Today, knowledge is still
considered power – an enormous power in fact – but the understanding has
changed considerably, particularly from the perspective of organizations. The
new paradigm is that within the organization knowledge must be shared in order
for it to grow. It has been shown that the organization that shares knowledge
among its management and staff grows stronger and becomes more competitive.
This is the core of knowledge management – the sharing of knowledge.
Most organizations are
beginning to realize that their singular most important asset is the
intellectual capital of their staff and as such are finding new ways to manage
this asset. This is derived from the paradigm that effective business strategy
in today’s business climate can only be achieved by a synergy of knowledge
applied to create innovation, whilst reducing cost and increasing productivity.
These organizations have also realized that the huge funds invested in
Information Technology can only be harnessed when they serve as enablers to
creating, capturing, storing, processing and sharing knowledge. Thus the real stock
they have is their knowledge. This has given rise to the search for ways to
manage knowledge and the eventual emergence of the term Knowledge Management.
The impact of Knowledge
Management in the performance of commercial banks can be seen as an integrated
approach to achieving organizational goals by placing particular focus on “knowledge”, now considered as the new factor for production. The transfer of knowledge is, in fact, the essence of knowledge
management.
Knowledge management can be broadly defined as the identification
and management of processes for leveraging the intellectual capital of
organizations over time and place. As such, it applies to every job function
and process and seeks to capture institutional learning and share best
practices for the benefit of the entire firm and its clients.
The impact of Knowledge
management in the performance of commercial banks is increasingly an important
element of organizational strategy. Organizations, whether they are in the
private sector or whether they are in the public sector, must develop
strategies for the collection, dissemination, and protection of information
required by employees, clients, and external partners if the organizations are
to succeed in their missions. Knowledge management involves the management of
data in a way that transforms data into useful knowledge (Lim, Ahmed, and
Zairi, 2000). Structuring knowledge management into an organization's strategy
assures that knowledge management will be an ongoing, coordinated process
within the organization that will benefit the organization, it employees,
clients, and external partners over the long-term (Drew, 2001). The key to the
implementation of an effective and efficient knowledge management strategy is
the integration of knowledge management and information into organisational
process.
Knowledge Management
supports and coordinates the creation,
transfer and application of individual knowledge in value creation
processes. This can only be realized in a corporate culture that promotes Knowledge
Management and actively supports the information and documentation processes
(i.e. through the systematic application of innovation and quality management
tools and methods).
In this research work we
look at the impact of knowledge management in performance of commercial
activities of Guaranty Trust Bank Plc, how it harnesses the huge knowledge
deposits residing in its tacit environment (the minds of her staff) to create a
synergy which in-turn transforms the bank to learning bank with Knowledge Workers
in various Knowledge Departments within a Knowledge based bank which gave them an advantageous competitive
edge Morik,
Huppe, and Unterstein, (2002).
1.2 STATEMENT OF THE PROBLEM
This research project presents a business survey on the impact of
knowledge management (KM) in the performance of commercials banks in Nigeria,
Guaranty Trust Bank is used as a case study. It offers managers and individual
decision makers a framework for analysis, and provides a set of tools to
evaluate the benefits of knowledge sharing.
Therefore the following
problems would be considered in this study:
1.
What is the level of awareness and employee attitude towards the
impact of knowledge management in performance of commercial activities of Guaranty
Trust Bank Plc?
2.
What impact is the use of Knowledge Management in recruitment has within
the Bank?
3.
Is there a specific unit or structural support for knowledge
management within Guaranty Trust Bank Plc that measures its
impact on the banks commercial activities?
4.
What is the top management’s attitude towards the impact of knowledge
management in the performance of the Banks commercial activities?
These are but
a few questions Guaranty Trust Bank Plc must answer in order
to strengthen its strategies in a dynamic knowledge-driven business
environment.
1.3 OBJECTIVES OF
THE STUDY
The main objective of this study is to provide insight into the
impact of knowledge management in the performance
of commercial activities of Guaranty Trust Bank. The aim is to know the strategies employed by Guaranty
Trust Bank Plc in exploiting its knowledge management
as a measure of its performance. This requires the achievement of four specific
objectives.
1.
What is the level of awareness and employee attitude towards the
impact of knowledge management in performance of commercial activities of Guaranty
Trust Bank Plc?
2.
What impact is the use of Knowledge Management in recruitment has
within the Bank?
3.
Is there a specific unit or structural support for knowledge
management within Guaranty Trust Bank Plc that measures its
impact on the banks commercial activities?
4.
What is the top management’s attitude towards the impact of
knowledge management in the performance of the Banks commercial activities?
1.4 RESEARCH QUESTIONS
1
What is the level of awareness and employee attitude towards the
impact of knowledge management in performance of commercial activities of Guaranty
Trust Bank Plc?
2 What impact is the use of
Knowledge Management in
recruitment has within the Bank?
3
Is there a specific unit or structural support for knowledge
management within Guaranty Trust Bank Plc that measures its
impact on the banks commercial activities?
4
What is the top management’s attitude towards the impact of
knowledge management in the performance of the Banks commercial activities?
1.5
SIGNIFICANCE
OF THE STUDY
The result of this study will demonstrate the impact of knowledge
management in the performance of commercial activities in adopted by Guaranty
Trust Bank Plc.
It will also aid scholars who might want to research more on the strategies adopted by Guaranty
Trust Bank Plc.
Finally this is a pioneer work in the field of “Knowledge
Management” with a focus on the impact of knowledge management in the
performance of commercial activities of Guaranty Trust Bank and is a partial
requirement for the award of MBA (Business Administration) to the researcher in
University of Nigeria
1.6 SCOPE OF THE STUDY
The research project is, however, limited in scope to the
assessment of the impact of Knowledge Management in performance of commercial
activities in Guaranty Trust
bank Plc. Secondly, it will not discuss
other aspects of the bank’s management, like Legal and insurance policies, card
and international services, organisational structure and resource allocation,
financial position and customer relationship. This therefore narrows this
research study only to the impact of knowledge management in performance of commercial activities in Guaranty
Trust Bank Plc.
Guaranty
Trust Bank Plc was used as a case study; therefore
the study may not apply for non- Nigerian commercial banks or other industries,
factories or organisations suffice also to mention that same results obtained
might not be equally obtained from other Nigerian commercial banks as a measure
of their performance.
Thirdly, the data used in the analysis is generated through
opinion survey, which can be very subjective depending on the time and
circumstances surrounding the respondent who generated such opinion.
1.7 DEFINITION OF TERMS
·
Competitive Advantage
Occurs when an organization acquires or develops an attribute or
combination of attributes that allows it to outperform its competitors.
·
Knowledge Creation
The generation and making of information readily available for use.
It is also the formation of new ideas through interactions between explicit and tacit knowledge in individual human minds.
·
Knowledge Management (KM)
Comprises a range of
practices used in an organisation to identify, create, represent, distribute
and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in
organisational processes or practice.
·
Knowledge Transfer
The transfer and sharing of information between two people
·
Top Management Attitude
This is the disposition of top management to support or oppose the
creation, application and transfer of knowledge company- wide.
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