An Empirical Analysis of Innovative Strategies and the Growth of Solar Energy Companies in Nairobi County, Kenya.

Abstract

This study sought to establish the relationship between innovative strategies and firm growth of solar energy corporations in Nairobi county, Kenya. Specifically, the study sought to determine how: process innovation strategies, product innovation strategies, market innovation strategies and organizational innovation strategies influence growth of selected renewable energy organizations in Nairobi county. The study was anchored on three theories; resource-based theory, dynamic capabilities theory, and the diffusion of innovation theory. The study adopted explanatory research design targeting all the 34 renewable energy companies licenced by the Energy and Petroleum Regulatory Authority to exclusively deal in solar consumer devices. As the population was small, census survey was adopted. Primary data was collected through structured questionnaires formulated on a five-point Likert -type scale. The questionnaire was pilot tested in ten renewable energy companies that did not deal exclusively with consumer products. To ensure reliability of the study used Cronbach’s Alpha coefficient. The data was analysed using descriptive and inferential statistics with the aid of Statistical package for Social Sciences (SPSS). Findings of the study indicated that innovative strategies positively influenced firm growth. Key words : Innovation, Market, Renewable energy, Solar energy, Firm Growth DOI: 10.7176/EJBM/12-30-11 Publication date: October 31 st 2020