Knowledge Management

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Knowledge management in Bank of Agriculture (Nigeria) :

Knowledge management in Bank of Agriculture (Nigeria)

content:

content Introduction Knowledge Management Knowledge Hierarchy Knowledge Management In an Organization Introduction to Case-Study_ Bank of Agriculture Company structure, Mission and Vision Company Mandate and Functions Problem Areas in Bank of Agriculture Opportunities in Bank of Agriculture Opportunities for Innovation Barriers for Innovation Recommendation

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INTRODUCTION TO KNOWLEDGE MANAGEMENT To be ability to manage knowledge is important in todays “knowledge economy”/Society is quite crucial. WHAT IS KNOWLEDGE MANAGEMENT? Knowledge management in an organizational set-up in which knowledge is controlled saved , shared and used as information to give an organization a competitive advantage/edge over their competitors. Hatch (2010) defines it as: "When group knowledge from several subunits or groups is combined and used to create new knowledge, the resulting tacit and explicit knowledge can be called organizational knowledge.” “Knowledge is increasingly being viewed as commodity or intellectual asset”

KNOWLEDGE HIERARCHY:

KNOWLEDGE HIERARCHY DATA: “Data consist of discrete, objective facts about events but nothing about it own importance or relevance” INFORMATION: Data that is organized to make it useful for end user who performs tasks and make decisions. KNOWLEDGE: Is broader than data and information and required understanding of information. WISDOM: the quality of having experience, knowledge, and good judgement; the quality of being wise

Knowledge management in an organization :

Knowledge management in an organization “A necessary but not sufficient prerequisite for effective organizational adaptation over time is that some subset of employees understands the changes occurring in the organization’s environment” (Gray , 2000). Learning Organizations: ( The dance of change) For an organization to be successful in these dynamic information technology age, organization must adopt the art and practice developed by Peter M Senge in his book Fifth Discipline which says managers must make sure that their firm don ’ t become victim of learning disability.

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BANK OF AGRICULTURE: Bank of Agriculture (BOA) is Nigerian foremost agricultural and rural Developmental finance institution which was established in 1972 as Nigerian Agricultural Bank (NAB) but on October 2010, after acquiring Peoples Bank Nigeria which made became much bigger, The Bank got renamed Bank of Agriculture (BOA) to reflect its institutional transformation Programme and to reposition, revamp their service delivery. OWNERSHIP STRUTURE The bank is “wholly owned” by Nigerian Government with BOA shares held by Central Bank of Nigeria (CBN) (40%) and Nigerian Ministry of Finance Incorporated (MOFI) (60%) and supervised by Federal Ministry of Agriculture. It has an Authorized Share Capital of N50 Billion (Fifty Billion Naira) COMPANY BACKGROUND

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COMPANY STRUCTURE, MISSION AND VISION For an Agricultural Investment Bank like BOA main “asset is not plants , Buildings or expensive machines” Rather its their “Intellectual capital” Company Structure: Corporate Finance Partnerships and Strategy Credit and Empowerment Mission: To stimulate agriculture, improve lives and grow communities Vision: To be the foremost self-sustaining Development Finance Institution in Africa

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Company mandate AND FUNTIONS Primary Responsibility of Bank of Agriculture: “Provision of credit to support all activities in the Agricultural Value Chain” such as famers, retailers, wholesales, traders and production agricultural enterprises. Provision of non-agricultural micro credit to the poor segment of the society comprising rural artisans, petty traders such as fertilizer, machineries, consultancy, ICT equipment's. Capacity development for the promotion of co-operatives and agricultural information systems. Boosting of opportunities for self-employment in the rural areas to stem rural-urban migration

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problem AREAS IN bank of agriculture Poor Organizational Structure Poor Project Implementation Lack of Innovative Information Technology tools and computer Illiteracy among the staffs . Financial instability and sole dependence on Nigerian Government for funding Marketing

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POOR ORGANIZATIONAL STRUCTURE “Organizational structures deal with the way the firm is organized, and the way people relate to one another” Implementation Knowledge Management in Bank of Agriculture organizational structure would prevent knowledge lose in the following ways: Continuity and Sustainability: Strong business structure and Well laid-out hierarchical order. Example: When experience employee retires or resign.

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“Project can be defined as a combination of resources pulled together to create something that did not previously exist” (Cleland and Ireland, 2002). “The success or failure of projects is highly dependent upon the ability and willingness of people to identity knowledge and share it within organization”. - Polyaninova Activities that would enhance project implementation are: Capturing Organizing Refining Exchange of captured knowledge POOR PROJECT IMPLEMENTATION

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LACK OF INNOVATIVE I.T TOOLS AND COMPUTER IIITIRATE AMONG THE STAFFS “Explore the use of Information Technology to capture and disseminate knowledge” Bank of Agriculture needs to employ this two strategy using computers: “Codification Strategy” – Codified, Stored and Reused (Stored in a database) “Personalization Strategy” (Person to person contacts) Bank of Agriculture should implement both strategies for Knowledge storing and sharing by investing in computer capabilities such in Artificial intelligence (software's), Computer storage devices and training of staffs on how to operate computers Solution to Bank of Agric Source: Fraunhofer Centre for experimental software Engineering, Maryland; By Rus and Lindvall

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FINANCIAL INSTABILIY The problem: The Continued dependence of the Bank on Government source income was not the right approach. Solution: Nonprofits organization such as Bank of Agriculture can indeed reduce their revenue volatility through diversification, particularly by equalizing their reliance on earned income, investments, and contributions through learning of their mistakes and exploring the untapped potiential of agrictural sector in Nigeria by doing the following: Collaboration, Diversification, Invest in Technology

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LACK OF CUSTOMER Relationship MANAGEMENT What is CRM? “CRM focuses on managing the relationship between a company and its current and prospective customer base as the key to success” Adopting customer-oriented knowledge to BOA’s management approach would enhance: Improve Customer Satisfaction Increase Revenue Improve Performance Would allow for the integration of marketing, sales and service activities to achieve a common goal

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OPPORTUNITIES FOR BANK OF AGRICULTURE Becoming a Knowledge-sharing Organization: Bank of Agriculture has an opportunity to become a knowledge sharing organization to mitigate their problems like Poor Project implementation or Lack of customer relationship management. Why Bank of Agric need Knowledge Sharing ? Linking knowledge to action Enabling environment

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OPPORTUNITIES FOR INNOVATION Enabling sharing and codification to tacit knowledge : The sharing of tacit knowledge as resource for innovation is especially important in developing fields where not a lot of explicit knowledge exists such as agriculture field which requires experience . (Jae Lee 2000) Employees of the Bank usually combine partially codified knowledge and complimentary resources such as learning on the job. Nigerians big population “Tacit knowledge sharing is critical for organizations' innovation capability” ( Cavusgil et al. , 2003)

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BARRIERS FOR INNOVATION In Bank of Agriculture some of the Barrier prevent innovation , expansion are the following: Cultural Barriers: The cultural dimensions show the overall characteristics of a country. They may significantly influence the knowledge transfer within enterprises as well as among business partners (Bradley, 1991; Hofstede, 1983). Resources: Due to lack adequate financial resources for Bank of Agriculture, Innovation of any kind has become difficult. Lack of information Technology Training for BOA Staffs: In respective of the computer devices invested in by the bank if the staffs cannot operate them, will be a barrier.

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RECOMMENDATION Become a learning and knowledge sharing organization Adopt Knowledge to Technology approach: “Knowledge is becoming applied to knowledge itself” Bank of Agriculture should Diversify their operation Adopt the continuity and sustainability strategy: Codification and Personalization Approach should be implemented as well

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REFERENCE : Journal
 FROELICH, K. A.
 Diversification of Revenue Strategies: Evolving Resource Dependence in Nonprofit Organizations
 In-text: ( Froelich , 1999)
 Your Bibliography: Froelich , K. (1999). Diversification of Revenue Strategies: Evolving Resource Dependence in Nonprofit Organizations. Nonprofit and Voluntary Sector Quarterly , 28(3), pp.246-268.




 Website 
 ITIL KNOWLEDGE MANAGEMENT: BEST PRACTICES & PROCESSES - BMC UK
 
 In-text: ( Bmcsoftware.uk , 2017)
 Your Bibliography: Bmcsoftware.uk . (2017). ITIL Knowledge Management: Best Practices & Processes - BMC UK . [online] Available at: http:// www.bmcsoftware.uk /guides/ itil -knowledge- management.html [Accessed 29 Apr. 2017].



 

 Website 
 KNOWLEDGE MANAGEMENT AND DATA MINING FOR MARKETING
 
 In-text: ( Sciencedirect.com , 2017)
 Your Bibliography: Sciencedirect.com . (2017). Knowledge management and data mining for marketing . [online] Available at: http:// www.sciencedirect.com /science/article/ pii /S0167923600001238 [Accessed 29 Apr. 2017].







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REFERENCE KNOWLEDGE MANAGEMENT IN A PROJECT ENVIRONMENT: ORGANISATIONAL CT AND PROJECT IN UENCES
 
 In-text: (http:// arrow.dit.ie / cgi / viewcontent.cgi?article =1003&context= scschcomart , 2017)
 Your Bibliography: http:// arrow.dit.ie / cgi / viewcontent.cgi?article =1003&context= scschcomart . (2017). Knowledge Management in a Project Environment: Organisational CT and Project In uences . [online] Available at: http:// arrow.dit.ie / cgi / viewcontent.cgi?article =1003&context= scschcomart [Accessed 29 Apr. 2017].


 KNOWLEDGE‐ENABLED CUSTOMER RELATIONSHIP MANAGEMENT: INTEGRATING CUSTOMER RELATIONSHIP MANAGEMENT AND KNOWLEDGE MANAGEMENT CONCEPTS[1]: JOURNAL OF KNOWLEDGE MANAGEMENT: VOL 7, NO 5
 
 In-text: ( Emeraldinsight.com , 2017)
 Your Bibliography: Emeraldinsight.com . (2017). Knowledge‐enabled customer relationship management: integrating customer relationship management and knowledge management concepts[1]: Journal of Knowledge Management: Vol 7, No 5 . [online] Available at: http:// www.emeraldinsight.com / doi / pdfplus /10.1108/13673270310505421 [Accessed 29 Apr. 2017].
 THE STRATEGY MANAGEMENT OF ITELLECTUAL CAPITAL AND ORGANIZATIONAL KNOWLEDGE 



 EDITED BY CHUN WEI CHOO AND NICK BONTIS; Text Book, OXFORD UNIVERSITY PRESS; 2002 ; PAGE: 50 PLESSIS, M. D.
 The role of knowledge management in innovation
 In-text: (Plessis, 2017)
 Your Bibliography: Plessis, M. (2017). The role of knowledge management in innovation . [online] Available at: http:// citeseerx.ist.psu.edu / viewdoc / download?doi =10.1.1.454.588&rep=rep1&type=pdf [Accessed 29 Apr. 2017 ]. 
 




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