Research On Knowledge Management Mechanism Based On Financial Service Innovation

With the advent of the era of knowledge economy,the economic form of each country has experienced from the traditional industrial economy to the knowledge economy.As a typical knowledge-intensive industry,the financial services industry plays an important role in the country's economic development,and it also promotes the important stage of the country's transition from labor-intensive to knowledge-intensive industries.According to the development trend of China's banking industry,the international market competition is increasingly fierce and foreign banks continue to occupy financial markets.Under this industry background,China's commercial banks are lacking of advantage on financial service innovation,which leads to the loss of high-quality customers,the reduction of business scope and a series of other problems.Taking the Shanghai Free Trade Zone as an example,the increasingly open policy environment helps foreign banks continue to expand their financial interests in the region.The competition between China's commercial banks and foreign banks is increasingly fierce.As a new management method in the era of knowledge economy,knowledge management can help commercial banks to improve their own knowledge system and enhance their knowledge reserves,which is conducive to the promotion of its internal management system reform,to achieve financial services and product innovation.At present,more and more commercial banks began to cultivate knowledge management ability,which is committed to carry out various financial services innovation activities.Therefore,from the perspective of financial services innovation,this article set Shanghai Free Trade Zone as a case study,explores knowledge management factors and dynamic operation mechanism at different stages in financial services innovation,so as to provide specific and effective management suggestions for China's commercial banks to carry out financial services innovation activities,which has a certain value and significance of research.On the basis of summarizing the domestic and foreign literature,this paper firstly analyzes the characteristics of knowledge management in the process of financial service innovation under the new environment.Then it analyzes the influencing factors and their relationship between knowledge management and financial service from three stages: conceptual stage,development stage and application stage.Secondly,after putting forward the hypothesis of influencing factors,the empirical results are obtained by designing the scale and issuing the questionnaire,collecting the relevant data and analyzing the structural equation model.Finally,a quantitative model of knowledge management system based on financial service innovation is constructed by introducing the method of system dynamics.The system flow graph is formed based on the analysis of causality,and then Vensim software is used to simulate the mode and carry out sensitivity analysis.According to the research results,this paper proposes the following management recommendations for commercial banks in Shanghai Free Trade Zone to carry out financial service innovation projects.Firstly,commercial banks need to strengthen the ability of knowledge creation to cultivate a learning organization culture.Secondly,they need to establish a flat organizational structure and improve internal communication quality.Finally,they need to improve the information processing mechanism.The above suggestions provide a theoretical reference for the knowledge management process in commercial banking financial service innovation.