Conducting a knowledge audit at a South African retail bank

Adeline S.A Du Toit

doi:10.4102/ac.v14i1.212

Abstract

Purpose: The purpose of the article was to present the methodology followed and findings of a knowledge audit at a South African retail bank.Design/methodology/approach: The article addresses the following research question: ‘What methodology should be followed when conducting a knowledge audit for a retail bank?’ The audit followed a mixed method research methodology. A questionnaire was emailed to a sample of employees to determine their knowledge requirements and 30 senior managers were interviewed in order to obtain a strategic perspective on the knowledge management requirements of the bank.Findings: The commitment to knowledge management was generally positive, but it varies across business units. The bank has not defined which knowledge areas are critical in order to improve its current or future performance. Specific knowledge gaps were identified and a knowledge map was compiled to indicate knowledge flow in the bank.Implications: The article gives a detailed description of the methodology when conducting the knowledge audit. The knowledge audit attempted to address the most critical knowledge requirements of a South African retail bank. The audit helped to make the knowledge in the bank visible and helped the bank to understand the value and contribution of knowledge to the organisational performance.

Highlights

Knowledge increasingly occupies a strategic role in most enterprises
As South Africa moves to a knowledge economy, the strategic focus is on intangible assets and senior management of enterprises realise that they must develop better techniques to manage this vital asset (Schwikkard & Du Toit 2004:104)
Knowledge management initiatives could focus on closing this gap but this requires incentives for employees to do so

Summary

Introduction

Knowledge increasingly occupies a strategic role in most enterprises. As South Africa moves to a knowledge economy, the strategic focus is on intangible assets and senior management of enterprises realise that they must develop better techniques to manage this vital asset (Schwikkard & Du Toit 2004:104). Since 1990 the South African banking industry has gone through substantial changes. South African retail banks operate in a very dynamic and complex competitive environment and the five major banking groups (ABSA, FirstRand, Investec, Nedbank and Standard Bank) control 89.4% of total banking assets in South Africa (Datamonitor 2012). The question is to what extent the differences in economic structure in general and banking activities in particular will have an impact on knowledge management practices in the activities of the retail bank in question

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