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Full Project – Knowledge management and employee productivity in the banking sector

Full Project – Knowledge management and employee productivity in the banking sector

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Click here to Get The Complete Research Project Chapter 1-5

Full Project – Knowledge management and employee productivity in the banking sector

Click here to Get this Complete Project Chapter 1-5

Chapter One

INTRODUCTION

1.1 Background of the Study

The advancement of technology and the rebirth of new inventions have kept most organizations in the race to remain competitive in the business. For many companies, the time of rapid technological change is also the time of incessant struggle for maintaining cornpctitive advantage (Jelena, Vesna & Mojea, 2012). It is obvious that knowledge is slowly becoming the most important factor of production, next to labour, land and capital (Sher & Lee, 2004). Though some forms of intellectual capabilities are transferable, intrinsic knowledge is not easily copied; therefore, the key objective of management is to improve the process of acquisition, integration and usage of knowledge, which is exactly what knowledge management, is all about (Kovacic, Bosity & Loncar, 2006). Chang & Chuang (2009) indicated that knowledge has become the key economic resource, and perhaps maybe, even the only source of comparative advantage.

Despite the fact that interest in the source, nature and quality of knowledge has been expressed since the times of Socrates, Plato, and Aristotle (Singh, Chan & Mckee, 2006), the idea of knowledge management (KM) is very recent (Singh, et al. 2006). Hull (2000) suggests that the phenomenon of KM is not merely some passing fad, but is in the process of establishing itself as a new aspect of management and organization, and as a new form of expertise. To some extent, KM has gained this legitimacy in academia as a result of consulting companies who have sought to capitalize on the enormous potential of information technology (Smith and Lyles, 2003). Throughout the world, organizations are facing a universal challenge consequential from rapid change in a new knowledge economy (Zwain, Teong & Othman, 2012).

The result of this means that organizations that fails to keep up with this rapid change will be left behind to grope in its unpreparedness. Many organizations accept KM as a management paradigm worldwide in order to cope with the changing expectations of the organization (Zwain, et al. 2012). Knowledge management consists of leveraging intellectual asset to enhance organizational performance (Stankosky, 2008). Knowledge sharing throughout the organization enhances existing organizational business processes, introduces more efficient and effective business processes and removes redundant processes (Bhojaraju, 2005). KM helps an organization to gain insight and understanding from its own experience; Knowledge management is an audit of “intellectual assets” that highlights unique resources, critical functions and potential bottlenecks, which hinder knowledge flow to the point of use. KM protects intellectual assets from decay, seeks opportunities to enhance decisions, services and products through adding intelligence, increasing value and providing flexibility (Bhqjaraju, 2005). KM complements and enhances other organizational initiatives such as; total quality management (TQM), business process re-engineering (BPR) and organizational learning as well as providing a new and urgent focus to sustain competitive position (l3hojaraju, 2005).

1.2 Statement of the Problem

Knowledge management provides an organization with both a competitive edge and improves corporate performance because it makes its employees smarter (Robbins et al, 2007). Knowledge management is the hidden value that is not reflected in organizational financial statements but has the potential to contribute to corporate profitability and competitive advantage.

The Nigerian private sector offers a rich avenue to research given that the majority of individuals that work in private sector are knowledge workers (Ann, et a!, 2013). Coupled with this, business organizations that fail to improve on the process are hard hit if very knowledgeable employees leave the organization either voluntarily or involuntarily without the organization tapping into the knowledge that resides in the heads of these knowledgeable employees.

Employees (knowledge holders) possessing particular skills and knowledge could be invaluable to both colleagues and managers within the same organization, but it is more likely than not that those people who could make use of this knowledge do not even know these knowledge-holders and their knowledge exist (Nevo, Benhasat & Wand, 2012).

Dangote Company faced challenge of inability of managing knowledge, poor knowledge transfer, poor knowledge application and ineffective knowledge creation, which generates low corporate performance. The researcher aim is to investigate the relationship between knowledge management and employee productivity.

 

1.3   Conceptual Framework

 

 

 

 

 

 

 

 

Source: Researcher’s Desk, 2021

1.4 Objective of the Study

The major aim of’ this study is to examine the relationship between knowledge management and organizational success. The specific objectives of the study are:

  1. To determine the relationship between knowledge creation and employee productivity
  2. To determine the relationship between knowledge application and employee productivity
  3. To determine the relationship between knowledge retention and employee productivity

1.5 Research Questions

  1. What is the relationship between knowledge creation and employee productivity?
  2. What is the relationship between knowledge application and employee productivity?
  3. What is the relationship between knowledge retention and employee productivity?

1.6 Research Hypotheses

H01: There is no significant relationship between knowledge creation and employee productivity

H02: There is no significant relationship between knowledge application and employee productivity

HO3: There is no significant relationship between knowledge retention and employee productivity

 

1.7 Significance of the Study

This study will be useful to members of the public and staff of the UBA

The findings and recommendations of this study will enable the managers to know how knowledge management will enhance the employee productivity

This study will also be useful for academic purpose by other scholars. The study will add to the body of knowledge on knowledge management and employee productivity.

These findings of this study will be useful to government and other organizations because they will use the recommendations for effective policy formulation and implementation.

1.8 Scope of the Study

The study focused on investigating the relationship between knowledge management and employee productivity. Literatures on both concepts and dimensions were review.

Content Scope: The geographical scope: this study covers only Dangote Company in Port Harcourt, Rivers State.

Unit of Analysis: For the purpose of this study, the unit of analysis is at the micro level, that is the individual level (i.e, the employee of Dangote company).

1.9 Limitations of the Study

Some major limitations encountered in the research are as follows:

Time constraint: This played a major role in the research of this project, because there was no much tune for to fully conduct effective research. Lack of corporation from managers and employees to provide adequate information based on the research. To be able meet top-level managers who will provide quality and reasonable information has to be booked which a time never materialized.

Financial constraint: is one major limitation because the cost of transportation in the city has increase and when booked meeting do not materialized transport paid is wasted. Based on the research the information gathered are from questionnaires and interviews middle from level managers, lower level manager and employees.

 

1.10 Operational Definition of Terms

Knowledge management: is the process of organizing and distributing an organization’s collective wisdom so that the right information gets to the right people at the right place

Knowledge application: means making knowledge more active and relevant for the firm in creating value.

Knowledge creation can be described as developing new or replacing existing content.

Knowledge Retention: can be described as a process by which new information is transferred from the short-term to long-term memory.

Employee Productivity: this refers to the amount of goods and services that a group of workers produces in a given amount of time.

1.11 Organizational Profile of UBA Plc

UBA’s has more than 65 years of providing uninterrupted banking operations dating back to 1948 when the British and French Bank Limited (“BFB”) commenced business in Nigeria. BFB was a subsidiary of Banque Nationale de Credit (BNCI), Paris, which transformed its London branch into a separate subsidiary called the British and French Bank, with shares held by Banque Nationale de Credit and two British investment farms, S.G. Warburg and Company and Robert Benson and Company. A year later, BFB opened its offices in Nigeria to break the monopoly of the two existing British owned banks in Nigeria then.

Following Nigeria’s independence from Britain, UBA was incorporated on 23, February 1961 to take over the business of BFB. UBA eventually listed its shares on the Nigerian Stock Exchange (NSE), in 1970 and became the first Nigerian bank to subsequently undertake an Initial Public Offering (IPO).

UBA became the first sub-Saharan bank to take its banking business to North America when it opened its New York Office (USA) in 1984 to offer banking services to Africans in Diaspora.

Today’s UBA emerged from the merger of then dynamic and fast growing Standard Trust Bank, incorporated in 1990 and UBA, one of the biggest and oldest banks in Nigeria. The merger was consummated on August 1, 2005, one of the biggest mergers done on the Nigerian Stock Exchange (NSE). Following the merger, UBA subsequently went ahead to acquire Continental Trust Bank in the same year, further expanding the UBA brand. UBA subsequently acquired Trade Bank in 2006 which was under liquidation by the Central Bank of Nigeria (CBN).

UBA had another successful combined public offering and rights issue in 2007 and made further banking acquisitions of three liquidated banks namely: City Express Bank, Metropolitan bank, and African Express Bank. The bank also acquired Afrinvest UK, rebranding it UBA Capital, UK.

The quest to build a strong domestic and African brand intensified in 2008 when ITBA made further acquisitions of two liquidated banks, Gulf Bank and Liberty Bank while at the same time intensifying its African footprint with the establishment of UBA Cameroon, UBA Cote d Ivoire, UBA Uganda, UBA Sierra Leone, and UBA Liberia as well as the acquisition of a 51% interest in Banque Internationale du Burkrna Faso, which was the largest bank in the country with 40% market share. Currently, UBA has 18 African subsidiaries contributing about 20% of the Group’s balance sheet with a target of contributing 50%.

On 13 December 2012, the shareholders of UBA Plc unanimously voted for the bank to restructure into a Monoline Commercial Banking Model in order for it to fully comply with the new CBN guidelines for commercial banks in Nigeria, which repealed the erstwhile universal banking regime.

With the restructuring, the Group’s non-commercial banking subsidiaries with the exception of Africa Prudential Registrars PIe and Afriland Properties Plc were consolidated under UBA Capital Plc and spun-off to shareholders of the Bank. The Bank’s excess real estate assets were used to capitalize Afriland Properties Plc, which was then spun-off, along with Africa Prudential Registrars Plc, to be held directly by the Bank’s shareholders..

Along with UBA Plc, the result of the restructuring is three stand-alone entities held directly by the Bank’s shareholders — UBA Capital Plc and Africa Prudential Registrars Plc, which are already listed on the Nigerian Stock exchange, as well as Afriland Properties Plc, now controlled by independent shareholders.

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