KNOWLEDGE CREATION THAT REQUIRES REPOSITIONING IN LEARNING AND INNOVATION

Having the advantage to acquire knowledge when one needs it, gives employees (experts, professionals, or people within the communities of practice) a degree of flexibility in innovation and also a degree of power, while "knowledge flow is fundamentally embedded in power relations" (Soenen & Moingeon, n.a.). The true nature of a successful and powerful company lies in continuous knowledge creation, in the form of providing value throughout learning and innovation and re-shaping not only the business, but also the core dimensions of knowledge management (KM). Knowledge management tools require a repositioning of innovation and learning in order to provide a unique perspective on today's fast changing and developing organisations. The contribution of knowledge management research over the last 20 years brings into the spotlight the idea that innovation and learning are critical resources for value creation and this paper aims to investigate how knowledge management practices impact value creation in terms of creation through innovation and learning within the Romanian financial and banking institutions (referred to as Financial Sector Organisations, FSOs). Recent research identifies that there are several factors influencing knowledge management, namely: (1) performance indicators and measurable benefits; (2) planning, design, coordination, and evaluation systems; (3) skills; (4) culture; and (5) organizational structure. This paper investigates how the five above-mentioned factors influence knowledge creation within the reviewed industry, and provides practical advice for businesses in Romanian FSOs. Our research aims to take a learning and innovation approach to knowledge creation, an approach that requires repositioning of the Romanian FSOs towards new ways of boosting knowledge. In a rapidly-changing environment, every business aspect, and especially those factors that influence knowledge creation, must take a new turn in order to stimulate the communities of practice, the experts, and the professional networks, to adapt to and adopt new realities. As the knowledge management tools evolve and, at the same time, there are more complex views on how true value is created, we need to take a closer look at key factors that influence knowledge creation. Our research aims to analyze strategic themes in today's business environment, especially how they influence value creation in the form of learning and innovation. All key factors influencing knowledge management have deep implications in practice and therefore a critical analysis of the knowledge management initiatives is essential. By disseminating newly-created knowledge throughout the Romanian FSOs, new knowledge flows will be created and thus innovation and learning outcomes will be easier to access.