A framework for intra-organisational knowledge sharing towards business performance improvement in the retail banking industry in South Africa

Abstract

In the current economic climate, effective knowledge management is vital for organisational growth and development. The highly competitive South African banking industry compels banks to leverage existing knowledge to create unique, inimitable knowledge assets. Managing knowledge is essential because banks are viewed as not only selling services but also knowledge. The South African banking sector faces competition from new entrants, including FinTech organisations, that can innovate more easily due to their agility. Studies have shown that South African retail banks lack formal knowledge-sharingpractices, leading to a risk of losing valuable knowledge when employees leave. Organisations need to formalise this practice to utilise knowledge assets fully and benefit from knowledge sharing (KS). The purpose of the research was to develop an intra-organisational knowledge-sharing framework (IOKSF) for the South African banking industry. The study utilised a design science research (DSR) methodology with three distinct cycles to design the IOKSF. The first cycle involved comprehensive literature reviews to create the initial version of the framework. The second cycle included a survey with managers in retail banks, leading to the second version of the framework. The final cycle utilised focus groups to refine and produce the third version of the framework. Knowledge management (KM) experts evaluated the final version of the IOKSF, and the study incorporated their feedback and input to complete the framework. However, the framework was not piloted in a real world organisational setting, and its practical application remains to be tested. The IOKSF offers retail banks and other organisations a structured approach to implementing KS within their operations. This comprehensive framework details strategic and operational aspects, identifies potential barriers, and provides actions to mitigate these challenges. In addition, the study includes an implementation plan to guide organisations in adopting the framework effectively.