KNOWLEDGE MANAGEMENT FOR EASE OF DOING BUSINESS IN PRIVATE SECTOR ORGANIZATIONS IN NIGERIA

Abstract

Knowledge management is a concept that encompasses the methods and processes of identifying, selecting, capturing, documenting, sharing and using knowledge to achieve organizational set goals and objectives. It is a concept that has permeated the public and private sectors in developed countries but yet to gain the required prominence in a developing country like Nigeria. Organisations require knowledge to ensure competitive advantages and sustainable growth in an era tilting towards a knowledge-based economy. Having an economic environment that is enabling enough to sustain businesses requires proper management of knowledge, especially in the private sector, which is major driver of economies across the globe. This work examines how proper knowledge management can improve organizational competitiveness and facilitate ease of doing business. The challenges identified include absence of professional knowledge managers in organizations, lack of trust among private sector workers, absence of standard policies on knowledge management, among others. The work, having concluded that knowledge management is central to the development of the society through the empowerment of private organization human resources,  recommends among others, that Chief Executive Officers should employ professional knowledge managers, train the employees, offer incentives, and establish policies and standards on knowledge management to address the barriers to knowledge management thereby improving the potentials of knowledge management in achieving ease of doing business for organizations in the private sector.