Utilization of Knowledge Management as Business Resilience Strategy for Microentrepreneurs in Post-COVID-19 Economy

Abstract

The COVID-19 outbreak affected the smooth operations of microentrepreneurs across the globe, including those in the Nigerian hospitality industry. However, it was discovered that the majority of microentrepreneurs were unable to utilize knowledge management to improve the resilience capacity of their businesses. It was this evidence that this study investigated regarding the effect of knowledge management on the business resilience of microentrepreneurs in Nigeria. A cross-sectional survey was used with a purposive sampling technique. This study found that knowledge management has a significant effect on the business resilience of microentrepreneurs. A sample size of 3018 was determined from the sample frame of 1520. This study concludes that knowledge management measured in terms of knowledge acquisition, knowledge storage, knowledge sharing and knowledge utilization has a significant effect on the business resilience of microentrepreneurs. One of the implications of this study is that microentrepreneurs should incorporate their experiences gathered during the COVID-19 era to strengthen the resilience of their businesses in the post-COVID-19 work economy.