Influence of Personal and Social Characteristics on Innovation Culture of Medium Enterprises in Nairobi Central Business District, Kenya
Abstract
Medium enterprises (MEs) play a key role in the Kenyan economic development particularly in creation of ideas which are implemented into reality through innovations. The statistics show that a total of 2.2 million Micro Small and Medium Enterprises were closed in the last five years, where 46 percent of them died in their first year of establishment. MEs are also grappling with cut-throat competition, poor infrastructure, lack of access to markets and credit. The aim of this study was to establish the relationship between personal and social characteristics and innovation culture of MEs in Nairobi, Central Business District Kenya. A survey research design was followed, and the study targeted the owner managers of the MEs where a systematic random sampling technique was used to pick 147 respondents. Findings show that personal and social characteristics have a significant influence on innovation culture. The study recommends that the government should focus on training the young people if they are to be innovative and start enterprises. Young people should be encouraged to venture into entrepreneurial innovation given their innovative culture. The government should establish more financial institutions to facilitate innovations of entrepreneurs.
Keywords: Innovation culture, Personal and social characteristics and Medium enterprises
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