IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v5y2021i6p198-206.html
   My bibliography  Save this article

Effect of Innovation Strategies on Performance of Real Estates Firms in Mavoko Sub-County, Kenya

Author

Listed:
  • Wambua, Peter Maingi

    (Kenyatta University, Kenya)

  • Stephen M. A. Muathe

    (Kenyatta University, Kenya)

Abstract

For the last 5 years, the real estate in Kenya has been affected negatively by financial crisis that affected the entire world. There has been also a massive expansion of the real estate that calls for innovation and new strategies by the stakeholders in the sector for them to keep abreast with the challenges. Therefore, this study sought to assess the effect of innovation strategies on real estate firms’ performance in Mavoko Sub-County, Kenya. Specifically, the study sought to; determine how Process Innovation Strategy, Product Differentiation Strategy, Technology Strategy, and Innovative Customer Service Strategy influences performance of real estate firms in Mavoko Sub-County, Kenya. This study used census method since the population was small and the firms were easily accessible. Primary data for this study was collected using copies of questionnaire as its key instrument. SPSS version 25 then aided in analyzing data as it was most apposite and user-friendly for analyzing attitudinal responses that are management related. Data collected was then analyzed through descriptive statistics and inferential statistics and presented using frequency distribution tables and figures. The findings revealed that 90.3% of the total variance in the dependent variable (Performance of Real Estate Firms) could be significantly explained by combined independent variables (Process Innovation Strategy, Product Differentiation Strategy, Technology Strategy, and Innovative Customer Service Strategy). The study therefore concluded that Process Innovation, Product Differentiation, Technology, and Innovative Customer Service Strategies had significant positive effect on the performances of real estate firms in Mavoko Sub-County, Kenya. Therefore, the study recommended that the firms should make use of these strategies so as to boost their performance.

Suggested Citation

  • Wambua, Peter Maingi & Stephen M. A. Muathe, 2021. "Effect of Innovation Strategies on Performance of Real Estates Firms in Mavoko Sub-County, Kenya," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(6), pages 198-206, June.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:6:p:198-206
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-5-issue-6/198-206.pdf
    Download Restriction: no
    File URL: https://www.rsisinternational.org/virtual-library/papers/effect-of-innovation-strategies-on-performance-of-real-estates-firms-in-mavoko-sub-county-kenya/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fagerberg, Jan & Verspagen, Bart, 2009. "Innovation studies--The emerging structure of a new scientific field," Research Policy, Elsevier, vol. 38(2), pages 218-233, March.
    2. Christoph Zott & Raphael Amit, 2008. "The fit between product market strategy and business model: implications for firm performance," Strategic Management Journal, Wiley Blackwell, vol. 29(1), pages 1-26, January.
    3. Faïz Gallouj & Maria Savona, 2009. "Innovation in services: a review of the debate and a research agenda," Journal of Evolutionary Economics, Springer, vol. 19(2), pages 149-172, April.
    4. Claudio Cozza & Franco Malerba & Maria Luisa Mancusi & Giulio Perani & Andrea Vezzulli, 2012. "Innovation, profitability and growth in medium and high-tech manufacturing industries: evidence from Italy," Applied Economics, Taylor & Francis Journals, vol. 44(15), pages 1963-1976, May.
    5. Lai, Wen-Hsiang & Lin, Chiu-Ching & Wang, Ting-Chu, 2015. "Exploring the interoperability of innovation capability and corporate sustainability," Journal of Business Research, Elsevier, vol. 68(4), pages 867-871.
    6. James A. Wolff & Timothy L. Pett, 2004. "Small-business internationalisation: the relationship between firm resources and export competitive patterns in exporting," International Journal of Management and Decision Making, Inderscience Enterprises Ltd, vol. 5(2/3), pages 246-262.
    7. Pedro De Faria & Joana Mendonca, 2011. "Innovation strategy by firms: do innovative firms grow more?," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 12(2), pages 173-184.
    8. Bowen, Frances E. & Rostami, Mahdi & Steel, Piers, 2010. "Timing is everything: A meta-analysis of the relationships between organizational performance and innovation," Journal of Business Research, Elsevier, vol. 63(11), pages 1179-1185, November.
    9. Howard Van Auken & Antonia Madrid-Guijarro & Domingo Garcia-Perez-de-Lema, 2008. "Innovation and performance in Spanish manufacturing SMEs," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 8(1), pages 36-56.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Catia Milena Lopes & Annibal José Scavarda & Guilherme Luís Roehe Vaccaro & Christopher Rosa Pohlmann & André Luis Korzenowski, 2018. "Perspective of Business Models and Innovation for Sustainability Transition in Hospitals," Sustainability, MDPI, vol. 11(1), pages 1-19, December.
    2. Eggert, Andreas & Thiesbrummel, Christoph & Deutscher, Christian, 2014. "Differential effects of product and service innovations on the financial performance of industrial firms," jbm - Journal of Business Market Management, Free University Berlin, Marketing Department, vol. 7(3), pages 380-405.
    3. Chang, Yuan-Chieh & Chen, Min-Nan, 2016. "Service regime and innovation clusters: An empirical study from service firms in Taiwan," Research Policy, Elsevier, vol. 45(9), pages 1845-1857.
    4. Bhatti, Sabeen Hussain & Santoro, Gabriele & Khan, Jabran & Rizzato, Fabio, 2021. "Antecedents and consequences of business model innovation in the IT industry," Journal of Business Research, Elsevier, vol. 123(C), pages 389-400.
    5. Jan Fagerberg, 2013. "Innovation - a New Guide," Working Papers on Innovation Studies 20131119, Centre for Technology, Innovation and Culture, University of Oslo.
    6. Mingfeng Tang & Grace Sheila Walsh & Cuiwen Li & Angathevar Baskaran, 2021. "Exploring technology business incubators and their business incubation models: case studies from China," The Journal of Technology Transfer, Springer, vol. 46(1), pages 90-116, February.
    7. Baldwin, Carliss Y. & Bogers, Marcel L.A.M. & Kapoor, Rahul & West, Joel, 2024. "Focusing the ecosystem lens on innovation studies," Research Policy, Elsevier, vol. 53(3).
    8. Shi Yin & Yuanyuan Yu & Nan Zhang, 2024. "The Effect of Digital Green Strategic Orientation On Digital Green Innovation Performance: From the Perspective of Digital Green Business Model Innovation," SAGE Open, , vol. 14(2), pages 21582440241, June.
    9. Lucian Belascu & Alexandra Horobet & Georgiana Vrinceanu & Consuela Popescu, 2021. "Performance Dissimilarities in European Union Manufacturing: The Effect of Ownership and Technological Intensity," Sustainability, MDPI, vol. 13(18), pages 1-19, September.
    10. Linlin Zheng & Yashi Dong & Jineng Chen & Yuyi Li & Wenzhuo Li & Miaolian Su, 2022. "Impact of Crisis on Sustainable Business Model Innovation—The Role of Technology Innovation," Sustainability, MDPI, vol. 14(18), pages 1-28, September.
    11. Sena, Vania & Nocker, Manuela, 2021. "AI and Business Models: The Good, The Bad and The Ugly," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 14(4), pages 324-397, May.
    12. Serhat Burmaoglu & Ozcan Saritas, 2019. "An evolutionary analysis of the innovation policy domain: Is there a paradigm shift?," Scientometrics, Springer;Akadémiai Kiadó, vol. 118(3), pages 823-847, March.
    13. James Boyer & Jean-Marc Touzard, 2021. "To what extent do an innovation system and cleaner technological regime affect the decision-making process of climate change adaptation? Evidence from wine producers in three wine clusters in France," Post-Print hal-03290224, HAL.
    14. Frank Crowley & Jane Bourke, 2017. "The Influence Of Human Resource Management Systems On Innovation: Evidence From Irish Manufacturing And Service Firms," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-28, January.
    15. Cinzia Battistella & Gianluca Murgia & Fabio Nonino, 2021. "Free-driven web-based business models," Electronic Commerce Research, Springer, vol. 21(2), pages 445-486, June.
    16. Meena Madhavan & Mohammed Ali Sharafuddin & Thanapong Chaichana, 2022. "Impact of Business Model Innovation on Sustainable Performance of Processed Marine Food Product SMEs in Thailand—A PLS-SEM Approach," Sustainability, MDPI, vol. 14(15), pages 1-33, August.
    17. Faridah Djellal & Faïz Gallouj, 2010. "Invisible innovation and hidden performance in services: a challenge for public policy," Post-Print hal-01672583, HAL.
    18. Steve Johnson & Don J Webber & Wayne Thomas, 2007. "Which SMEs Use External Business Advice? A Multivariate Subregional Study," Environment and Planning A, , vol. 39(8), pages 1981-1997, August.
    19. Tim Benijts, 2014. "A Business Sustainability Model for Government Corporations. A Belgian Case Study," Business Strategy and the Environment, Wiley Blackwell, vol. 23(3), pages 204-216, March.
    20. Piers Steel & Sjoerd Beugelsdijk & Herman Aguinis, 2021. "The anatomy of an award-winning meta-analysis: Recommendations for authors, reviewers, and readers of meta-analytic reviews," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(1), pages 23-44, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:5:y:2021:i:6:p:198-206. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.