Strategic Utilization of What Organizations Know for Value Creation: the case of Kenyan Financial Regulatory Enterprises

Abstract

With the increasing uncertainty in business-operating environment in the knowledge-driven economy, organizations should not only know what they know, but know it well for effective strategic utilization. This study sought to find out the extent to which organizations know what they know and whether they strategically utilize that knowledge for value creation. This study used descriptive approach which revealed that organizations know what they know to a great extent but strategically utilizing it to some extent. The respondents gave varying score rates on the extent of strategic utilization of knowing capability especially on the highly tacit knowledge. The study found out that managing knowledge as a strategic asset has not received strategic focus and attention. The study argued that not knowing your critical knowledge in a knowledge driven economy is a serious capability problem. This study was limited to financial regulatory enterprises in Kenya. However, we gave insight that can stimulate discussion and further research on knowing capability and value creation using diverse population in diverse industries.

Keywords: Know, Knowing Capability, Value Creation, Knowledge, Knowledge Creation, Knowledge Management, Knowledge-based management, Financial Regulatory Enterprises, Kenya.