Innovation Strategy And And Performance Of Airtel Kenya Limited In Nairobi City County, Kenya (original) (raw)
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Interplay of Product and Technological Innovation Strategies for Performance Improvement among Government Parastatals in Kenya 1. Introduction and Background of the Study In the contemporary economy, innovation strategies have become paramount as the principal wellspring of competitive advantage. The economic growth of any nation is intrinsically tied to innovation, as it catalyzes industrial competitiveness, profoundly influences business success, and significantly contributes to a country's overall economic advancement (Rasheed et al., 2020). Proficiency in innovation strategies is now a fundamental requirement for professionals in the field of business administration. This proficiency empowers businesses to make judicious decisions regarding the allocation of resources, ultimately driving innovation objectives, delivering value to customers, and establishing a commanding edge in the market. An innovation strategy represents a holistic blueprint with a unified innovation goal to engender fresh value propositions that resonate with customers and warrant their investment. This strategy assembles directives and practices meticulously designed to cultivate future organizational expansion (Elkins, 2021). It is well-established that successful innovations wield a substantial influence over a company's financial and economic performance, notwithstanding the inherent risks and uncertainties that innovation endeavors may entail (Laban & Deya, 2019). The origins of this profound association between innovation and progress can be traced back to the period following the Industrial Revolution, which spanned from 1760 to 1840. During this era, the creation of novel technologies, products, and processes became intrinsically linked with the concept of innovation. Governments, recognizing the economic value inherent in innovative pursuits, began to endorse research facilities and the patent system. This ongoing commitment to innovation has elevated innovators to the status of significant contributors to societal advancement. Illustrating the global importance of this field, numerous conferences focused on innovation, such as the 40th IASP World Conference on Areas of Innovations held in Luxembourg City this past September, continue to convene. Hence, innovation strategy is not a novel concept; it has gained considerable prominence in contemporary organizations. The proactive pursuit of innovation is instrumental in their success and the enhancement of their overall performance. Moreover, global innovation initiatives serve as catalysts for long-term growth and bolster the competitiveness of businesses on a global scale. 1.1. Product and Technological Innovations and Performance of Government Parastatals In the realm of innovation strategies, their profound impacts resonate powerfully, leaving an indelible imprint on the consumers, which comprise the primary focus of this research (Anna & Fang, 2016). These impacts encompass a wide spectrum, including the dynamic landscape of marketing innovation, the ever-evolving landscape of customer needs,