KNOWLEDGE MANAGEMENT AND COMPETITIVE ADVANTAGE IN SOME SELECTED INSURANCE COMPANIES IN BAYELSA STATE
Keywords:
Knowledge Management, Competitive Advantage, Insurance Companies, Resource-Based ViewAbstract
This study examined the nexus between knowledge management and competitive advantage in selected insurance companies in Bayelsa State, Nigeria. Specifically, it investigated the effects of knowledge acquisition, knowledge application, knowledge storage, and knowledge evaluation on competitive advantage. Guided by the Resource-Based View (RBV) and Knowledge-Based Theory (KBT), the study adopted a descriptive survey research design. The population comprised 250 employees drawn from five insurance firms, Pointers Insurance Plc, NEM Insurance Plc, Staco Insurance Plc, Goldlink Insurance Plc, and African Alliance Insurance Company Ltd., operating in Bayelsa State. Using the Taro Yamane (1964) formula, a sample size of 154 respondents was selected. Data were collected using a structured five-point Likert-scale questionnaire, with content validity ensured through expert review and test–retest reliability employed. Data analysis involved descriptive statistics and multiple linear regression. Findings revealed that knowledge acquisition, knowledge application, knowledge storage, and knowledge evaluation each had positive and significant effects on competitive advantage. The study concludes that effective knowledge management practices significantly enhance the competitive positioning of insurance firms in Bayelsa State. Based on these findings, the study recommends that insurance firms implement structured knowledge acquisition programs, integrate knowledge into operational processes, maintain robust knowledge storage systems, and continuously evaluate knowledge management practices to sustain and improve competitive advantage.
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