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. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    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. 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.
    2. 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.
    3. 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.
    4. 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.
    5. Jan Fagerberg, 2013. "Innovation - a New Guide," Working Papers on Innovation Studies 20131119, Centre for Technology, Innovation and Culture, University of Oslo.
    6. Snihur, Yuliya & Lamine, Wadid & Wright, Mike, 2021. "Educating engineers to develop new business models: Exploiting entrepreneurial opportunities in technology-based firms," Technological Forecasting and Social Change, Elsevier, vol. 164(C).
    7. 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.
    8. Jana Poláková & Gabriela Koláčková & Ivana Tichá, 2015. "Performance Implications of Business Model Change: A Case Study," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 63(6), pages 2101-2107.
    9. Francesco Bogliacino & Mario Pianta, 2016. "The Pavitt Taxonomy, revisited: patterns of innovation in manufacturing and services," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 33(2), pages 153-180, August.
    10. Arun Rai & Xinlin Tang, 2014. "Research Commentary ---Information Technology-Enabled Business Models: A Conceptual Framework and a Coevolution Perspective for Future Research," Information Systems Research, INFORMS, vol. 25(1), pages 1-14, March.
    11. Jonathan H. Reed, 2022. "Operational and strategic change during temporary turbulence: evidence from the COVID-19 pandemic," Operations Management Research, Springer, vol. 15(1), pages 589-608, June.
    12. Sarel Gronum & John Steen & Martie-Louise Verreynne, 2016. "Business model design and innovation: Unlocking the performance benefits of innovation," Australian Journal of Management, Australian School of Business, vol. 41(3), pages 585-605, August.
    13. Jesús Rodríguez-Molina & Margarita Martínez-Núñez & José-Fernán Martínez & Waldo Pérez-Aguiar, 2014. "Business Models in the Smart Grid: Challenges, Opportunities and Proposals for Prosumer Profitability," Energies, MDPI, vol. 7(9), pages 1-30, September.
    14. Piñeiro-Chousa, Juan & López-Cabarcos, M. Ángeles & Romero-Castro, Noelia María & Pérez-Pico, Ada María, 2020. "Innovation, entrepreneurship and knowledge in the business scientific field: Mapping the research front," Journal of Business Research, Elsevier, vol. 115(C), pages 475-485.
    15. 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).
    16. Stavros Rodokanakis & Irini Moustaki, 2010. "Evaluating the risk of unemployment: Comparison between the two most populated Greek regions with the entire country," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 71-94, June.
    17. Bettina Peters & Rebecca Riley & Iulia Siedschlag & Priit Vahter & John McQuinn, 2014. "Innovation and Productivity in Services: Evidence from Germany, Ireland and the United Kingdom," JRC Working Papers on Corporate R&D and Innovation 2014-04, Joint Research Centre.
    18. Ben R. Martin, 2016. "Twenty challenges for innovation studies," Science and Public Policy, Oxford University Press, vol. 43(3), pages 432-450.
    19. Matthias Filser & Sascha Kraus & Matthias Breier & Ioanna Nenova & Kaisu Puumalainen, 2021. "Business model innovation: Identifying foundations and trajectories," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 891-907, February.
    20. 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.

    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.