An Alternative to Coping with COVID-19—Knowledge Management Applied to the Banking Industry in Taiwan

Chih-Hsiung Chang (), Wu-Hua Chang, Hsiu-Chin Hsieh and Yi-Yu Shih
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Chih-Hsiung Chang: Department of Finance, I-Shou University, No.1, Sec. 1, Syuecheng Rd., Dashu District, Kaohsiung City 84001, Taiwan
Wu-Hua Chang: Department of Finance, I-Shou University, No.1, Sec. 1, Syuecheng Rd., Dashu District, Kaohsiung City 84001, Taiwan
Hsiu-Chin Hsieh: Department of International Business, National Kaohsiung University of Science and Technology, No.415, China Kung Rd., Kaohsiung City 80778, Taiwan
Yi-Yu Shih: Department of Finance, I-Shou University, No.1, Sec. 1, Syuecheng Rd., Dashu District, Kaohsiung City 84001, Taiwan

JRFM, 2022, vol. 15, issue 9, 1-21

Abstract: This study seeks to find an alternative strategy to cope with the impact of COVID-19. Though various measures have been adopted to respond to the threat of the pandemic, the problem remains unchanged. Undoubtedly, COVID-19 is also a crisis of knowledge, so this study explores whether the banking industry in Taiwan can apply knowledge management (KM) and fight the catastrophe of the century successfully and effectively. This study adopts an actual case to analyze the relationship between KM implementation and the banking industry; applies consistent fuzzy preference relations (CFPRs) to evaluate influential criteria including computational simplicity and guarantee the consistency of decision matrices; illustrates a decision-making model with seven criteria; and conducts pairwise comparisons, which are utilized to determine the priority weights of influential criteria amongst the outcome rankings and to formulate accurate KM strategies. The results show that predictions of success probabilities are higher than those of failure probabilities among the seven influential criteria and, in particular, the headquarters system and human resources are the most important priority indicators for implementing KM successfully during the pandemic or post-pandemic. The conclusion suggests significant policy implications for policymakers within other industries or countries in coping with COVID-19.

Keywords: COVID-19; knowledge management (KM); banking industry; fuzzy preference relations (CFPRs); post-pandemic (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2022
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