Knowledge Creation and Transfer in Family Businesses

This study examined knowledge creation and transfer in family businesses within a selected local government area of Bariga, Lagos. The study employed a descriptive survey design to collect data from 120 respondents. Using a purposive sampling technique, individuals involved in informal family businesses such as fabric sales, shoemaking, baking/culinary activities, liquid soap production, tailoring/fashion design, and traditional medicine were selected as participants for the study. Data were collected through questionnaire. The data collection lasted for three weeks. Using SPSS version 25, the quantitative data were analysed with frequencies, percentages, weighted means, and standard deviations. The results indicate that knowledge creation and transfer in family business is achieved through mentoring and coaching; observation and apprenticeship; storytelling; and informal interactions. However, with a mean score of 3.28, participants agreed that mentoring is the most commonly used method for knowledge creation and transfer. Respondents emphasized that older family members share valuable tacit knowledge that younger generations find useful in the business, while younger family members are more technologically savvy, thereby helping older generations adapt to modern tools/innovations for the smooth running of the business. Further findings revealed that generational gaps sometimes create barriers to effective knowledge sharing in family business. The study concludes that effective knowledge management practices are essential in family businesses to preserve tacit knowledge on one hand, and ensure business continuity.