Collaborative knowledge management: perceived benefits and challenges in rural banking industry in the Eastern Region of Ghana

Abstract

The aim of this study is to examine the extent of collaboration in knowledge management (CKM) and to explore the perceived benefits and challenges associated with it in rural banking industry in the Eastern Region of Ghana. It was an exploratory cross-sectional quantitative study with 105 employees surveyed. The study results indicated that there was low level of collaboration in knowledge management among the banks. However, majority of the employees perceived CKM to have benefits as well as challenges. In terms of benefits a greater number of the employees perceived the benefits of CKM to be: enhancing ability to address important issues effectively; bringing about the development of new skills; increasing utilisation of other expertise or services; acquiring useful knowledge or useful information on services, programmes or people in the community; having the ability to have greater impact on the quality of service than individual bank could have on its own leading to higher productivity. The study found out that majority of the employees perceived the challenges of CKM to be: mistrust; fear of loss of autonomy; different business cultures with different power structures; different funding cycles causing different creditworthiness; difficulty in combining skills due to different knowledge levels; and difficulty in coordinating affairs with full management commitment. In view of these, it is recommended that management must commit itself to CMK through communication and put into place the appropriate rewards and incentives for knowledge management activities. Also employees need to develop knowledge management skills through training in order to participate effectively.