Evaluation of knowledge management practices in commercial banks in Uganda a case study of centenary bank

Abstract

The study examined the knowledge management practices of (acquisition, conversion, and application) in Centenary Bank. This research was prompted by the interest developed by the researcher on how a learning institution like Centenary bank adopts to the new and ever emerging knowledge given its fastest growing rate across the country. The study was guided by the following objectives: examined the knowledge acquisition practices employed in Centenary bank, assessed the level of knowledge conversion in Centenary Bank, and lastly examined the knowledge application practices in Centenary Bank. A cross sectional research design was employed because it enhanced data collection at a single point in time. The study findings indicated that Centenary Bank had norms that supported Knowledge Management for better service delivery and that there was need to have common beliefs pointing to proper KM. The study also indicated that Management was fully involved in planning for Knowledge Management and that management had an upper hand in ensuring deliberate and consistent innovations to match the ever-revolving market and customer demands. The study also indicated that through the technology division, Centenary Bank had worked on ensuring technology-oriented information and its related systems are in place and gets done and used to its best. The research recommended that Centenary bank should adapt to a knowledge conversion strategy by leveraging the latest technology to consider creating a knowledge repository, virtual academy or learning institute accessible to all staff to conduct trainings, seminars, proper staff induction to facilitate consistence in the experience of customers across board. This would go a long way to ensuring the bank develops a knowledge management culture and that staff are supported in their quest for relevant knowledge to perform their roles excellently for a better customer experience. The investment in the learning institute would also go a long way in enforcing the bank’s values of integrity, teamwork, exceptional professionalism, excellence, competence superior customer service and leadership & environmental stewardship.