Abstract
Although, knowledge has been recognized as a key business asset, firms are still in the infancy stages of comprehending the practical implications of knowledge management. Developing countries are widely believed to be falling far behind in competitiveness and socio-economic development, due to their inability to develop capacities to enable themselves to take part in the emerging global networks of knowledge creation. There is a dire need for a more organized and purposeful study, on critical success factors for knowledge management adoption in developing countries like Pakistan. However, no research, so far, has been conducted to empirically investigate a detailed list of CSFs for KM adoption in Pakistan. This paper evaluates and disseminates the findings of a self-administered survey to investigate the critical success factors for the implementation of KM in banking sector of Pakistan. A survey questionnaire having 11 factors, consisting 66 items is adopted in this study, which is statistically tested for its validity as well as reliability. Data are collected from banking officials. The level of importance, as well as the ranking list of the critical success factors for KM adoption is statistically examined. This paper provides a priority list of CSFs—figured out in order of their importance—for KM adoption in the banking sector of Pakistan. Human resource management, motivational aids, and processes and activities are found to be the most important, while measurement and organizational infrastructure are found to be the least important factors, perceived by the bankers.
Highlights
Knowledge has been recognized as a key business asset, firms are still in the infancy stages of comprehending the practical implications of knowledge management (KM)
Since each value falls somewhere around important and very important, it can be drawn that all the critical success factors (CSFs) were perceived to be vital for KM adoption by the respondents
It is inevitable for organizations to be vigilant and aware of the CSFs influencing the success of a KM venture
Summary
Knowledge has been recognized as a key business asset, firms are still in the infancy stages of comprehending the practical implications of knowledge management (KM). Governments have started understanding the importance of knowledge and its management; fostering the related activities largely headed by high level officials and in economically and academically advanced countries of the world(Akhavan; Emami-Abarghoie et al 2008). The main focus of information systems has shifted from the processing of information to the management of knowledge. Businesses capable of gently capturing the embedded knowledge to utilize it into their day to day processes, operations, and services are likely to have a competitive advantage. A large number of firms are being considered as knowledge-based companies where KM is very crucial. KM is increasingly considered an indispensable business activity for firms as they widely recognize the fact that only effective knowledge management can produce competitiveness (Davenport and Grover 2001;Moffett, McAdam et al 2002)
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