Developing a corporate knowledge management strategy

Abstract

PurposeThe purpose of this paper is to explore the development of a knowledge management (KM) strategy at the Central Bank of Nigeria (CBN) and how this was embedded in the business processes of the bank.Design/methodology/approachLiterature research and a case study were used as the methodology of the paper.FindingsThe need to align KM strategy with business strategy was identified as critical to the success of KM. It was discovered that focusing KM on the Bank's payments system process helped create value and drive business results. A combined approach of codification and personalization was adopted for the KM program of CBN. The strategy adopted involved using a two‐pronged approach of communities of practice and a functional portal to drive knowledge management. The paper identifies that this strategy is adding value to the organization and increasing knowledge flows across a dispersed and distributed work environment.Originality/valueKnowledge management in large public sector organizations in Africa is not common. Equally, KM in regulatory financial institutions like Central Banks in Africa is not very common. The paper highlights the challenges of implementing a KM program in a distributed, dispersed and networked public sector organization with 36 branches serving a population of 160 million people in sub‐Saharan Africa.