African Behavioral Finance (Business/Economics/Psychology crossover) | 11 July 2009
Indigenous Knowledge Systems in Kenyan Business Practice: A Mixed Methods Inquiry
A, b, d, i, M, o, h, a, m, m, e, d
Abstract
Indigenous Knowledge Systems (IKS) in Kenya are deeply embedded within local business practices, reflecting a blend of traditional wisdom and modern commercial activities. The study employs both qualitative interviews and quantitative surveys to gather data from Kenyan entrepreneurs across various sectors, aiming for comprehensive insights into the integration of IKS in contemporary business contexts. A significant proportion (37%) of respondents reported that their daily operations are significantly influenced by traditional practices, highlighting a strong interplay between modern commerce and indigenous knowledge. This mixed methods approach has revealed nuanced dynamics where local wisdom guides market strategies, suggesting the potential for integrating IKS into formal business education curricula to enhance practical application in real-world settings. Educational institutions should integrate traditional value systems into their business curriculum to better equip students with holistic decision-making skills rooted in both modern and indigenous knowledge.