Factors Affecting Knowledge Management in Banking and Insurance Industry

Today, knowledge as an intangible asset plays an important role in organizations. Better and more effective use of organizational knowledge, organizing and managing knowledge, and its integration with organizational culture will lead to significant economic, social and cultural improvements. On the other hand, unsuccessful knowledge management can impose enormous costs on organizations. Today, knowledge management has also become an essential cornerstone for the success of organizations. To survive and sustain and develop in the competitive world, organizations will need to improve their performance. In a fast changing world that is becoming increasingly competitive, a high quality, creative and dynamic workforce will become an important source of competitive advantage for organizations. In order to improve operations and provide better products and services, organizations seek to increase learning and to acquire up to date knowledge and information. This study is aimed to examine the relationship between capabilities, innovations, processes and knowledge management performance. Therefore, an extensive survey study was performed on 80 banks and insurance companies. Finally 40 questionnaires were collected. The results indicated there is statistically a significant positive relationship between capabilities, process and knowledge management performance, and finally knowledge management capabilities enable an organization to improve its performance.