Publication:

Influence of innovation on business sustainability in petroleum firms in Nairobi, Kenya

The main aim of the study was to determine the influence innovation on business sustainability in petroleum firms in Nairobi, Kenya. The study was underpinned by Michael Porter’s generic competitive strategies. This study adopted a descriptive research design in its investigation. The study total population was 60 oil marketing companies in Nairobi where all the oil firms were included in the study. The primary data was collected using questionnaires. Descriptive statistics were used in the study that included the mean, standard deviation, frequencies and percentages. The data was presented in tables and explanations were done in prose. Simple linear regression was employed to determine the effect of innovation on business sustainability in petroleum firms in Nairobi, Kenya. Results indicated that innovation has a positive and significant impact on business sustainability of oil marketing companies. The study concluded that innovation is an enabler of business sustainability of oil marketing companies. Implementation of innovative and creative ideas is crucial in spearheading innovation within an organization. The study recommends adoption of improvised technology for all the processes and services of oil marketing companies. In terms of policy implication, the energy and petroleum regulatory authority and Ministry of energy and petroleum in connection with oil companies need to strengthen existing policy framework to support innovation via energy and petroleum research and development hubs.