Knowledge Management and Performance of Kpmg In Nairobi City County, Kenya Knowledge Management and Performance of Kpmg…
Osome, Fidel Okillah
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Competition have been high in the audit industry making most of the start ups collapse or underperform. Performance for KPMG equally has face stiff competition from her core giants include PriceWaterCoopers, Delloite and Ernst and Young. The performance of KPMG has been dwindling due to poor knowledge management strategies. The business environment within which firms operate has been very unstable. The political anxieties and competition from new entrants are challenges greatly affecting its growth. Adoption of urgent measures has helped control these challenges as this industry is of much importance to the country‟s economy. However, they have been the cause of downfall for some companies, which were unable to be resilient. The study sought to establish the influence of knowledge management on the performance eof KPMG, Kenya. The specific objectives were to determine the effect of the knowledge creation, sharing, storage and dissemination on the performance of KPMG Kenya.The study was anchored on the following three theories which include resource based view theory of a firm, Knowledge based view of a firm and Organizational learning thoery. The study used a descriptive research design. The population of study was management staff at the firm head offices in Nairobi City County. This consisted of one hundred and sixty two respondents who are the management staff of the audit firm. A sample of fourty nine respondents was taken which forms thirty percent of the target population which was evenly spread across the three levels of management. The primary data was collected by use of semi-structured questionnaires. Data analysis was done by use of descriptive statistics such as frequencies, percentages, mean scores and standard deviation with the aid of Statistical Package for Social Scientists and presented through tables, charts, graphs, frequencies and percentages. The study ound out that knowledge creation significantly influenced firm performance, knowledge sharing significantly influenced firm performance, knowledge storage significantly influenced firm performance and knowledge dissemination significantly influenced performance. The study concludes that at KPMG there was training and development programs to improve capacity, had a global network aimed at getting new insights in audit. KPMG operated a blog to share ideas and interact with clients had online interactions with clients and partners over the social media platformand also a document repository to store information and invested in people to enable store data. KPGM released reports regularly on its operations to the users and stakeholders. KPMG had a policy on dissemination of knowledge to other entities. KPMG through marketing, disseminated information about its products and services to the public. The study recommends that KPMG ought to train and development programs to improve capacity. KPMG ought to have a reliable internet coverage. KPMG ought to have an interactive website with all services and products and invest in knowledge sharing. KPMG ought to invest in storage of information and keep hardware‟s to enable store knowledge and information. KPMG ought to market so as to disseminate information about its products and services to the public, conducted meetings, workshops and seminars to sensitize the public. The study would be vital for policy invention in Kenyan Auditing Sector, beneficial to other policy makers. Knowledge is vital in building and sustaining competitive advantage in the auditing sector. Improvement to auditing firms , beneficial to scholars if it was added to the knowledge in the field of competitive strategy. Highlights the how implementing knowledge resources affects organization‟s performance. In addition, act as future reference in KMPG and how organizations operate.