KNOWLEDGE MANAGEMENT CAPABILITIES AND STRATEGY IMPLEMENTATION IN INSURANCE COMPANIES IN KENYA
Abstract
The study administered 50 questionnaires to all the respondents, with only 46 returning their questionnaire, representing a 94.5% response rate, which was statistically acceptable for generalization. The adjusted R2, in this context, quantified the predictive capacity of the study model. The result revealed an adjusted R2 value of 0.775, signifying that 77.5% of the variations in strategy implementation within Kenyan insurance companies can be attributed to infrastructure capabilities, process capabilities, relational capabilities, and protection capabilities. This leaves 22.5% unaccounted for, indicating other factors at play. The probability return value of 0.00 in the table above indicates a strong, statistically significant link. This number shows how expressively well-predicted it is about how infrastructure, process, relational, and protection capabilities will affect how strategies are implemented in Kenyan insurance companies. Moreover, the estimated F-statistic, which was significant at the 5% level, came to 35.091, confirming the model's overall importance. The regression model equation for this research study was: Y = 4.728 + 0.754X1 + 0.863X2 + 0.645X3 + 0.936X4. When all knowledge management variables were zero, Kenyan insurance companies' strategy implementation scored 4.728. An incremental unit improvement in infrastructure capabilities correlated with a 0.754 rise in the strategy implementation within Kenyan insurance businesses when all other independent variables were set to zero. Within these insurance businesses, there was an improvement in strategy implementation of 0.645, with a unit rise in relational capabilities and an increase of 0.863 in process capabilities. Similarly, a significant 0.936 improvement in strategy implementation was associated with every unit increase in protective capacities in Kenyan insurance companies. More generally, it is interesting to observe that, among Kenyan insurance businesses, protection capabilities had the most significant impact on strategy implementation. Process, infrastructure, and relational capabilities came next in that order. These variables were found to be significant (p<0.05).
Keywords: Knowledge Management capability, Knowledge acquisition, Knowledge application
CITATION: Mochama, E., & Makau, G. K. (2023). Knowledge management capabilities and strategy implementation in insurance companies in Kenya. The Strategic Journal of Business & Change Management, 10 (4), 696 – 708. http://dx.doi.org/10.61426/sjbcm.v10i4.2773.
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DOI: http://dx.doi.org/10.61426/sjbcm.v10i4.2773
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