Knowledge Management for Sustainable Growth: A Study of Organizational Practices and Performance in Nigeria’s Insurance Sector
Keywords:
Knowledge Management, Sustainable Growth, Insurance Sector, Organizational Performance, Strategic DevelopmentAbstract
Knowledge Management (KM) is becoming more important for the sustainable growth of organizations, especially in industry like insurance where decisions depend heavily on expertise and information. This study looks at how KM practices affect growth and performance in selected insurance companies in Nigeria. It focuses on key KM areas like knowledge sharing, use of technology, and staff development, and how these relate to outcomes such as customer satisfaction, profit levels, and market expansion.The research was based on responses from 266 employees working in six insurance firms spread across Lagos, Ibadan, and Port Harcourt. A structured questionnaire was used, and responses were measured using a 5-point Likert scale. The data were analyzed using both descriptive and inferential statistics to understand the effect of KM on local (internal) and global (strategic) performance.The results show that there is a clear positive link between KM and improved organizational performance. Internally, KM helped with time savings, fewer errors, and better service delivery. At the broader level, it supported market growth, long-term planning, and competitiveness.In conclusion, the study suggests that KM is essential for long-term growth in Nigeria’s insurance sector. Firms are encouraged to invest in proper KM systems, create an environment that supports knowledge sharing, and make sure that KM efforts align with their overall goals.
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Copyright (c) 2025 Abiola Abdul-Basit Senapon Badaru, Salami Omodayo Amusa, Olufemi Adewale Ogunkoya , Moruff Sanjo Oladimeji (Author)
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