Innovation Capability, Creativity, Technology And Performance Of Insurance Companies In Kenya
Abstract
Innovation capability, creativity and technology are three linked concepts and phenomena in
an organization setting that have been at the principal point of a firm’s performance because
in the present day competitive business environment, a firm needs to have an extensive
capacity to create productive contents and enhance innovation capacity in order to improve
its performance as it faces stiff competition from globalization effects. The major
concentration of the study was based on investigating the influence of innovation capability,
creativity and technology on Kenya insurance companies’ performance. The research has
been descriptive, with all the insurance players in country being the study population. Though
different studies had researched on the influence of innovation, creativity and technology on
firm outcomes, limited studies have sought to link the three predictor variables to estimate the
companies' success. The present research attempts to fill this existing gap. Data gathering was
done using a semi structured questionnaire. Analysis was done using descriptive measures of
mean and standard deviation. Linear regression analysis was carried out so as to establish
statistically the performance of Kenya insurance firms as a consequence of effective
implementation of technology, innovation and creativity. The study found that the insurance
companies have a strong commitment to employee training and development thus improving
the organizational capacity for innovation. R=0.645 established a positive connection
between creativity, innovation, technology and performance. Correspondingly, study findings
propose that innovation, creativity and technology contributes 41.6% (R2 =0.416) to the
overall organization performance. In general, it was established that the regression model was
significant and a good fit to predict the study variables since the p-value (p=0.000) is less
than 5% significance level. Findings from the regression analysis also show that innovation
(p=0.014) and creativity (P=0.000) were significant in influencing organization performance
while technology (p=0.061) was found to be slightly above 5% significance level. The
findings suggest that in order to shore up the insurance companies’ performance, employees
should be encouraged to come up with ways of achieving organization goals and objectives
by being creative and innovative. The findings also suggest that insurance companies have a
combined data processing and communication system that enables it to react fast to changes
in the operating environment.
Publisher
University Of Nairobi
Subject
Insurance CompaniesRights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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