KNOWLEDGE MANAGEMENT PRACTICES AND ORGANIZATIONAL PERFORMANCE: AN EXPLORATORY STUDY
This paper examines the relationship between Knowledge management practices and organizational performance. Knowledge management is about getting from those who have it and giving to those who need it, to improve organizational effectiveness and performance. Knowledge management allows organizations to capture, apply and generate value from their employees’ creativity and expertise. With the advancement in information and technology overtime, knowledge has become a vital resource for organizations to gain a competitive advantage and improve their performance. Today, the major source of wealth and prosperity are in the production and distribution of information and knowledge by organizations for employees and businesses to thrive. However, it has been observed that the frequent upsurge in employers’ turnover in recent times in different organizations has led to loss of knowledge sources and experiences of employees including outright retrenchment of permanent staff and being replaced with contract staff, sudden dismissals, restructuring, temporary or contract employment, job transfer and other alternative work arrangements. Beyond that, management actions have often reflected in lack of system upgrade, lack of good work structure, complex restructuring, information decay, banks’ ineptitude, lack of organizational commitment and poor security information. This position has made good quality service to dwindle and customers’ switching organizations was not in doubt. The combination of these observations has provided an inn road for poor performance. At some point, organizations struggle with knowledge loss in their operations. This makes it necessary for all members in the organization to generate and share knowledge such that knowledge sharing becomes a personal issue that requires personal commitment. This will not only increase profit but also improve quality, quantity, innovations, efficiency, effectiveness and competitiveness.