Omotejiohwo, Apeejay-Journal of Management Sciences and Technology, 6 (1), October- 2018 ISSN -2347-5005 15 The Impact of Knowledge Management Practices on Competitive Advantage in Selected Nigerian Banking and Telecommunication Companies Obire, J. Omotejiohwo Delta State University Asaba Campus, Nigeria Asaolu, A. Olalekan Delta State University Asaba Campus, Nigeria ABSTRACT The main concern of an organization is the need to encapsulate strategies for the transformation of the implicit knowledge to overt knowledge so as to derive greater benefit from the organization‘s intellectual capital. Knowledge management is the comprehensive means of organizing, transferring, locating and utilizing the information and proficiency in an organization. The general purpose of this research is to examine the effect of knowledge management practices on competitive advantage in selected organizations in Nigeria. The study made use of a sample of214 staff from Banks and telecommunications operators in the Lagos State, Nigeria. A cross sectional survey that consist of drawing a sample of elements from the population of interest was adopted, and the statistical tool used comprised frequency, correlation as well as regression analysis. The findings indicated that information technology application had the highest positive effect on competitive advantage. Secondly, it shows that organizational learning had no significant relationship with competitive advantage except information technology application, knowledge creation, and intellectual capital asset. It is concluded that information technology application is a vital tool for a successful organization and it is often heavily depended upon as the determinant of success in business. This study therefore recommends that knowledge should not only be embedded in documents or archives, but in organizational procedures, norms, practices, processes and cultures. Keywords: Knowledge Management, Information Technology (IT), Knowledge Creation, Organizational Learning, Competitive advantage 1. INTRODUCTION For decades the creation, communication of knowledge, acquisition and improving the deployment of knowledge had been the concern of scientists and philosophers alike. This intellectual expedition has given birth to a separate field called knowledge management. Rightly said, the twenty first century is the era of knowledge economy, in which most organizations possess knowledge that enables them to enhance their performance. Traditionally, the factors of production were said to be capital, land, labour, and entrepreneurship. Today however, it is obvious that knowledge is slowly becoming the most vital factor of production, next to labour, land and capital King, [41]. This leaves management with the immense task of creating systems using best practices for capturing knowledge, ensuring the best quality of the knowledge, making it available to all stakeholders of the organization, and ensuring the knowledge is applied and utilized for the benefit of the organization. Knowledge management (KM) is based on the notion that just as humans are unable to tap the potentials of their brain to the fullest, so also organizations are largely not able to maximize the utilization of the