Strategic Knowledge Management and Business Success: Social Network Perspective
Keywords:
Business, StrategicAbstract
The paper examined strategic knowledge management and business performance. Specifically, the study examined the relationship between social network and business performance, and to ascertain the challenges relating to knowledge management and business performance. The study adopted descriptive survey design approach. The study population comprised management level personnel in operational banks in Yenagoa, which summed up to 20 participants. The descriptive analysis was adopted using simple percentages, and the inferential analysis adopted Spearman Rank Order Correlation Coefficient to establish the relationship between the examined variables. All of this was done using the SPSS software. The result from the analysis shows a positive relationship between knowledge management and business performance. Conclusively, knowledge management is a dynamic tool for business growth, sustainability and corporate resilience. Creation, acquisition, sharing, transfer and storing of knowledge/information are being done electronically through social network, blog, email, etc. Organizational management has used this digital platforms to create and share knowledge among staff and other internal actors but also giving an opportunity with little or more restrictions to external factors such as customers, distributors, government officials etc. It was recommended, among others, that managers and other employees should provide quality knowledge through the internet, emails etc. in order for employees to be more proactive in running the day-to-day activities of the organization.
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