A strategic knowledge management model for the financial services industry

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The management of knowledge is characterized by diverse perspectives, leading to various definitions and models influenced by numerous academic disciplines. This complexity makes it challenging for practitioners to adopt existing scientific knowledge management models and align them with their firm's strategic management. The literature reflects a confused state of knowledge management, which impacts this study. Given the fundamental differences across industries and cultures, it is unlikely that a universal knowledge management model can address all unique aspects while accommodating cultural variations. Therefore, this research focuses specifically on the financial services sector in German-speaking countries, aiming to develop a tailored knowledge management model that aligns with strategic management amid ongoing market and regulatory changes. This study creates a strategic knowledge management model designed for the volatile financial services industry, incorporating necessary organizational adaptations. It draws on established theories in strategic management and knowledge management, as well as empirical findings from qualitative methods, including questionnaires, interviews, and participatory observation. The findings indicate that scientific definitions of knowledge and knowledge management models are rarely applied in German-speaking financial services firms, and there is often little connection between knowledge man