Strategic Innovations and Performance of Cooperatives in Nandi County, Kenya

Abstract

High outcomes in addition to continuing attempts in innovations aids organizational learning as well as improving the quality and speed of the operations and ultimately performance. Though research have been undertaken on performance of SACCOs, there is a knowledge gap since most of the studies done revolve on the degree of strategic innovation, strategic innovation management among others, hence necessitating a determination of innovation strategies and how it affects strategic performance of cooperatives in Nandi County. The goals of the research were about establishing strategic innovations adopted and determining influence of strategic innovation on performance of cooperatives in Nandi County. Diffusion of Innovation, Resource Based and the Contingency theories respectively achored the research. Descriptive design utilized and primary data collected by structured questionnaires. To analyze the data, it was first coded was then assigned symbols and then further analyzed using regression and descriptive statistics. The study established that cooperative societies in Nandi County had adopted marketing, process innovation, and product innovations. On the influence on innovation strategies on performance, the study findings indicated that process, then followed by marketing and finally product innovations had a influence on performance of cooperatives in Nandi County. The study concludes that performance of cooperatives in Nandi were majorly being influenced by the efficiency in providing their financial products through process innovations. It can further be concluded that product innovations had the least influence on performance. The study recommends that Cooperatives in Nandi County should diversify their product portfolios in order to improve its results.