This is final part of dissertation on Success factors of knowledge management in banking industry in saudi Arabia. It is part of dissertation Help. This part of Recommendation knowledge Management Dissertation describes recommendations prime objective of banking industry
Recommendations and Conclusion
The prime objective of the research was to highlight the success factors which aid the knowledge management process in Saudi Arabian banks. This research involved data collection process with the help of primary as well as secondary data collection methods (Laukkanen et al, 2008). After conducting the research, thefollowing recommendations have been given in order to improve the knowledge management process in Saudi Arabian banks.
Knowledge management is the most important corporate asset in any business for the organisation since knowledge possessed by the employees of the firm assist the company to gain an inimitable competitive advantage. Therefore, there should be clear communication among the employees of the bank regarding the importance of the knowledge management process within the banks. Once employees would be able to understand the importance of the knowledge management process, it would not be difficult for the organisation in implementing the knowledge management process in the banks (Laforet and Li, 2005).
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Though banks in Saudi Arabia have enough awareness about the knowledge management process in the banking system, most customers are not involved in the knowledge management process of the bank and it is essential for banks to involve the customers of the bank along with their employees in their knowledge management process (Hwang et al, 2007). So, whenever banks design any new knowledge management process for its customers and employees then each and every customer should be aware about the knowledge management programme and also the benefits of the knowledge management process should be known to customers so that they can spare time for the knowledge management programme of the banks.
The culture of the bank decides the success of the knowledge management process for the bank. Thus, banks should to incorporate such a culture among their employees so that employees themselves are motivated and ready to share piece of knowledge they have with their peers and customers of the bank (Herzberg, 2007). The knowledge sharing process with the customers of the bank will ultimately aid the bank as customers would be able to make a decision about purchasing bank products easily and customer relationships can also be maintained by incorporating the knowledge management process among the customers of the bank.
Technology has proved as one of the major enablers to the knowledge management process as seen in the case study of Tiger bank and Camel bank in Malaysia. Hence, banks in Saudi Arabia need to develop e-platform wherein customer employee interaction can be achievedon a frequent basis and knowledge can be imparted to the customers of the bank so that their decision making process can be simplified by the use of knowledge (Hernandez & Mazzon, 2007). As Tiger bank has provided the login access to their customers in which customers can gain all information and post their issues which they face while dealing with the bank, such technology has several benefits for customers as this helps in keeping in touch with the customers and queries are resolved faster.
The knowledge management process needs to be integrated through various ways so that complete knowledge can be given to the customer and employees of the bank. So, only providing the formal training will not help the employees of the banks for knowledge management process. Therefore, bank should have a 360 degree knowledge management process for their employees and customers as well (Hair et al, 2005). A 360 degree knowledge management programme means that it should have all the elements of the knowledge management process in it that is backed up by proper technology infrastructure, time to time formal training, and proper communication to customers as well as employees of the bank, management commitment for the knowledge management process and so on.
Some of the major barriers in the knowledge sharing process which the employees of the banks face in Saudi Arabia are lack of time, unsupportive management, lack of infrastructure and no rewards system. In addition, bank employees are overloaded with their work and so they do not get time for processes such as knowledge management which are essential for them as well as for the bank. Therefore, banks should allocate some specific time for their employees for knowledge management so that their employees can concentrate on the knowledge management process (Gudergan et al, 2008).
Despite utmost care taken in order to carry out the research in an error free environment there are some limitations of this research in terms of the applicability of the research. This research involved the data collection process through primary sources which involved sample size of 250 customers which unfortunately doesnot represent the whole population view among customers and employees of the bank (Chin et al, 1996). As a result,this research contains a very small sample size as a bigger sample size cannot be afforded keeping in mind the cost and time consumption in carrying out the research with such a big sample size.
Also, since the banking industry is deemed as a highly knowledgeable intensive industry, there are various products which are offered by the banks to its customers. So, the knowledge management process will also vary accordingly as per the kind of products which is marketed by the bank and so a general knowledge management study in the banking will not be so impressive as the various product mix of the banks will require different kind of knowledge which requires different knowledge management processes needing to be implemented (Chin, 1998b).
Recommendation of further research
Current research has investigated major factors affecting the success of the knowledge management process for Saudi Arabian banks while there is large scope of research in this field of research. Further research can be carried out in order to narrow down the research area by adopting various factors of success for knowledge management in isolation as to what their contribution is in providing success to the knowledge management process in the Saudi Arabian banking system (Chin, 1998).A comparative study can be conducted in order to compare the impact of two major factors on the success of knowledge management in Saudi Arabian banking.
Also, barriers in the knowledge management process in banking in Saudi Arabia can be a further topic for further research. As research can have a major focus on exploring the factors which create barriers in knowledge management, at the same time exploration can be conducted in the field to overcome the barriers of knowledge management in the banking industry so that the knowledge management process can be implemented smoothly.
This research focused on the knowledge management success factors in the banking industry in Saudi Arabia. The major objectives of this study was to explore knowledge management developments in the Saudi Arabian banking industry and to discover the factors which are of prime importance for the banks in order to implement the knowledge management process in their banks. Research explored the literature on the topic of knowledge management specifically in the banking industry (Fornell & Bookstein, 1992). The research design was exploratory in nature which considered both primary as well as secondary data collection for collecting the data for the research.
Secondary data collection process was accomplished with the help of the case study method which considered two cases from the Malaysian banking industry for the knowledge management process. Literature regarding the knowledge management factors in banking industry was also explored in order to find out the development in the field of banking for the knowledge management process (Davis, 1989). Primary data collection process for the research was conducted through the survey method in which a questionnaire was designed for collecting the data from customers as well as from the employees of the bank. Data was analyzed with the help of content analysis methods and through charts and cross tabs.
After collecting the data it was found that the customers and employees in Saudi Arabia are generally aware of the knowledge management process in the banking sector. In order to implement the knowledge management process successfully in Saudi Arabian banks, there some factors of prime importance such as the leadership of the management of the bank, culture of the bank, public infrastructure and worker motivation. Therefore, in order to implement the knowledge management process banks, need to take care of such factors.
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