Knowledge Management and Competitive Advantage of Listed Consumer Goods Manufacturing Companies in Nigeria
DOI:
https://doi.org/10.5195/emaj.2021.237Keywords:
Knowledge Management, Competitive Advantage, Management Staff, Consumer Goods Companies, NigeriaAbstract
The study investigated the effect of knowledge management on the competitive advantage of Nigerian consumer goods businesses. A survey research design was used for the study. The management staff of six major consumer goods firms were included in the study’s population: Flour Mills Nigeria Plc., Cadbury Nigeria Plc., Guinness Nigeria Plc., Nestle Nigeria Plc., Honeywell Flour Mills and PZ Cussons Nigeria from which a sample of 384 was drawn using power analysis. A structured questionnaire was used to collect information from the respondents. The data collected were analyzed using descriptive statistics of frequency counts and simple percentages. In addition, covariance-based structural equation modelling (CB-SEM) was used to achieve the study’s objectives. The findings from the study revealed that knowledge acquisition (β = 0.541; p = 0.001), knowledge sharing (β = 0.672; p = 0.001), knowledge creation (β = 0.774; p = 0.001), knowledge codification (β = 0.450; p = 0.001) and knowledge retention (β = 0.853; p = 0.001) had a significant positive effect on consumer goods company’s competitive advantage. The study concluded that knowledge management played an important role in enhancing competitive advantage when adequately managed. It was recommended that the authorities in charge of the consumer goods companies ensure management staff quickly get any information needed within their working environment and ensure a horizontal information flow. In addition, the management should constantly develop new knowledge and ideas as well as providing appropriate communication and information technology (IT) gadgets to boost competitive advantage.
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