Banking business transformation by adoption of sustainability practices through knowledge management

Abstract

The way businesses, consumers, suppliers and government are leading their lives today is creating an environment of volatility, uncertainty, complexity and ambiguity (VUCA). The environment, economy and society are suffering due to fleeting approach of production, consumption and disposal. It is imperative for all businesses to adopt sustainable practices for their continual sustenance. Banks as a major contributor in country's economic growth can play a vital role in creating a sustainable environment while they directly serve their customers and stakeholders. Sustainable banking ensures an environmental and social wellness while carrying banking operations and knowledge management (KM) is a major source for smooth executions of sustainable development (SD) practices. This paper examines influence of KM in context of KM culture, information and communication technology (ICT) and KM practices on SD initiatives in Indian public sector banks (PSBs). The research findings presented that ICT practices in Indian PSBs have influence on SD.