The Impact of Technological Innovation on a Country’s Development: A Case of Listed Companies in Kenya

This study focused on the impact technological innovation has on a country’s development; a case of listed companies in Kenya. The objectives of the study were to establish the influence of technological innovation adopted in introduction of new products on sustainable development, secondly, to examine the influence of technological innovation adopted in introduction of new methods of production on sustainable development, to determine the influence of technological innovation adopted in opening new markets on sustainable development and lastly, to establish the influence of technological innovation adopted in sourcing appropriate raw materials on sustainable development. The study employed both descriptive and inferential research design. The research focused on 63 listed companies in Kenya which formed our target population. The research used self-administered questionnaires to collect data. The data was processed using statistical package for social sciences (SPSS) version 17, Descriptive statistics, Regression analysis and Chi square statistics were used for analysis. The results were presented in summary reports and tables. The study established that technological innovation plays a key role in enabling firms expand their markets both locally and internationally, therefore having a positive impact on the firm’s revenue and consequently the country’s economy. The study also established that technological innovation plays an important role in enabling firms source for raw materials locally or internationally therefore building on the inter-organizational communication and trade. The study also established that technological innovations can be used in the creation of new products that help a company achieve a competitive edge at a global level. The study concluded that technological innovations have a huge impact on a country’s development and on an organization’s sustainable development. The study recommends that governments should prioritize to support firms in employing technological innovation as this has a direct impact on a country’s development. The study also recommended that public private partnerships between the government and private sector should be encouraged as this will enable both entities tap into each other’s strength.