The first step in answering the research questions was to view the literature relating to KM in the financial services industry (Chapter 2). Among many other factors identified in literature, there were six success factors selected for KT. These factors are: (i) awareness and understanding of KM; (ii) organisational culture; (iii) management support and involvement; (iv) rewards and recognition;
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(v)organisational structure; and (vi) information technologies infrastructure. The interview guide was designed based on the success factors, containing a total of 30 questions (Appendix B) . The findings based on the interview questions are summarised in the next section.
6.2.1 Summary of research findings
The first questions asked to the participants are related to the first success factor, namely the levels of awareness and understanding of KM (section 4.5.1). The collected data were analysed and it was found that the employees at the selected organisation recognise knowledge as a valuable asset and that the quality and availability of knowledge can help them perform better in their duties. However, the understanding of what KM is about is not common to everyone and the concept of KM is not clear in all departments in the organisation. The lack of understanding of KM has resulted in poor employee participation in terms of transferring their knowledge.
Secondly, the participants were asked questions relating to the organisational culture. From the participants’ responses in section 4.5.2 it was found that the current organisational culture supports KT and the employees are supportive, collaborative, and ready to transfer their knowledge. The participants revealed that the culture in the selected organisation is based on mutual trust. It is therefore evident that the size of the organisation has created a strong culture among employees. Furthermore, it was found that the organisation implemented initiatives such as the Knowledge Centre, ARIS, communication, learning and development, and discussion forums to encourage KT.
The third success factor is the support and involvement of management. The interviews revealed that the management of the selected organisation supports knowledge transfer initiatives. However, the management does not actively encourage the participation of employees in the KT initiatives and they also do not participate and follow up on these initiatives (section 4.5.3).
The participants were further asked questions relating to rewards and recognition, the fourth success factor. From the participants’ responses in section 4.5.4 it is clear that the organisation does not have any rewards and recognition systems directed at KT and that the management does not measure the value added through KT.
The participants were furthermore asked questions relating to organisational structure. It has been found that the working relationship among the employees is
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generally good (section 4.5.5). The open plan environment has created strong relationships throughout the organisation.
The sixth success factor is information technologies infrastructure. From the participants’ responses (section 4.5.6) it has been found that the organisation does have existing technology to encourage KT. However, the technology is not sufficiently conducive to KT and is not adequately used because of a lack of training, poor communication, silos, bad experiences, and it was stated that the main knowledge transfer infrastructure (Knowledge Centre) is still under construction and not yet available for use.
Finally, the participants were asked general questions relating to KT. In section 4.5.7 it is been confirmed that the current knowledge transfer initiatives are not working due to a lack of time, inadequate infrastructure, “poor” attitudes from employees, different KT preferences, and power. The participants further identified training, infrastructure, communication, quality of information, and organisational strategy and structure as opportunities to improve the current knowledge transfer initiatives.
Moreover, the participants confirmed that they prefer shared files as a communication method for KT.
It can be concluded that the research findings highlight factors the organisation can consider when implementing KM.
6.2.2 Concluding remarks
Based on the findings, the purpose of the research was accomplished by answering the research questions indicated in section 1.6.
The first sub-research question (SRQ1) is concerned with the challenges facing the organisation in transferring knowledge. The first challenge identified is the lack of understanding of KM and KT in the selected organisation, hence the poor participation of employees in transferring knowledge. The second challenge identified is lack of encouragement, participation, and follow-up from the organisation’s management on KT. The third challenge is the non-existence of any rewards and recognition systems directed at the transfer of knowledge.
The second sub-research question (SRQ2) focuses on how information and knowledge are made available in the selected organisation. It was found that the organisation does have infrastructure in place for KT. Among others, the infrastructure includes ARIS, the Knowledge Centre, email, ShareDrive and social
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media. However, the challenge is that the infrastructure is not conducive to KT and is not adequately used by the employees.
The last sub-research question (SRQ3) determines how knowledge can be transferred among employees. The researcher looked at the ways in which knowledge can be transferred among employees. The participants highlighted factors preventing the transfer of knowledge and the improvement opportunities for KT. It was found that employees do not transfer knowledge due to a lack of time, inadequate infrastructure, “bad” attitudes from employees, different KT preferences, and power. The participants further proposed that the organisation improve training, infrastructure, communication, quality of information, and organisational strategy and structure for KT.
The main research question of this study focuses on what communication strategies, tools, methods and systems a company can implement to transfer knowledge between different interest groups and throughout the organisation. This question is answered in the recommendations section below.