Management of Tacit Knowledge for Competitive Advantage at Insurance Regulatory Authority, Nairobi, Kenya

Abstract

Rationale of Study – This study investigated the management of tacit knowledge for competitive advantage at the Insurance Regulatory Authority (IRA) in Nairobi, Kenya. The objectives of the study were: to assess how the management of tacit knowledge management at IRA can bring about competitive advantage, to examine the challenges encountered, and to come up with recommendations for the management of tacit knowledge for competitive advantage at IRA, Nairobi, Kenya.
Methodology – The research used qualitative and exploratory case design. The target population was 85 members of staff at the IRA and a sample of 43. Data was collected using interviews and reported verbatim. NVivo software program was used for the analysis of the study.
Findings – The research revealed that through tacit knowledge management, the Authority had acquired a competitive advantage over other firms thereby demonstrating the importance of tacit knowledge to a firm. Despite this, there were some challenges facing tacit knowledge management at the Authority. These included a lack of commitment from staff and a lack of a policy.
Implications – The study recommended a structured way of tacit knowledge management, the involvement of staff, and having proper policies for managing tacit knowledge, among other strategies. This study's findings can be used to inform policy decisions on the management of tacit knowledge at IRA.
Originality – The study is an original work aimed to contribute to the literature on knowledge management in general.