BUSINESS MODEL INNOVATION AND PERFORMANCE OF SMALL AND MEDIUM-SIZED ENTERPRISES IN MOMBASA COUNTY, KENYA
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Abstract
The purpose of this study was to examine the influence of business model innovation on performance of small and medium-sized enterprises in Mombasa County, Kenya. Specifically, the study sought to examine the influence of value capture innovation and value proposition innovation on performance of small and medium-sized enterprises in Mombasa County, Kenya. The theoretical framework was informed by the resource-based theory, dynamic capability theory and firm growth theory. The study employed the correlational, cross-sectional survey research design to test non-causal relationships between the study variables. The proportionate stratified random sampling technique was utilized to select a sample size of 351 small and medium-sized enterprises a target population of 2890 small and medium-sized enterprises in Mombasa County, Kenya. A pilot study was conducted to ascertain the validity and reliability of the constructed survey questionnaire. A structured self-administered survey questionnaire was used as the means of collecting primary data. The collected data was processed and entered into the statistical package for social sciences (SPSS) version 26 to create a data sheet used for analysis. Data analysis involved the use of descriptive statistics and inferential statistics. The Pearson’s correlation results indicated that value capture innovation and value proposition innovation had positive and significant relationship with the performance of small and medium-sized enterprises in Mombasa County, Kenya. The regression results indicated that value capture innovation and value proposition innovation had positive and significant influence on the performance of small and medium-sized enterprises in Mombasa County, Kenya. The study recommends that the managers and practitioners within the diverse industries should implement the business model innovation to foster the performance of small and medium-sized enterprises. The policymakers within the diverse industries should initiate policy review to encourage managers and practitioners to implement business model innovation to foster the performance of small and medium-sized enterprises. The study recommends intriguing areas for further research. Future research should examine the influence of business model innovation on firm performance with environmental turbulence as a moderator in other sectors or contexts.
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References
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Chen, S., & Yu, D. (2024). Exploring the impact of knowledge management capability on firm performance: The mediating role of business model innovation. Kybernetes, 53(10), 3591-3620.
Codini, A. P., Abbate, T., & Petruzzelli, A. M. (2023). Business model innovation and exaptation: A new way of innovating in SMEs. Technovation, 119, 102548.
Di Stefano, G., & Fosfuri, A. (2025). A value-based approach to innovation: from value creation to value capture. EGEA S.p.A.
Duh, M., & Primec, A. (2024). Investigating the effectiveness of endogenous and exogenous drivers of the sustainability (Re) orientation of family SMEs in Slovenia: Qualitative Content Analysis Approach. Sustainability, 16(17), 7285.
Dung, L. T., & Dung, T. T. H. (2024). Businesses model innovation: A key role in the internationalisation of SMEs in the era of digitalisation. Journal of Innovation and Entrepreneurship, 13(1), 48-68.
Dubey, U. K. B., & Kothari, D. P. (2022). Research methodology: Techniques and trends. Chapman and Hall/CRC.
Faloye, D. O., Owoeye, I., & Jayeola, K. (2021). The key drivers of business model innovation in developing countries firms: Survey of micro and small scale enterprises in Nigeria. International Journal of Research and Innovation in Social Science, 5(7), 148-157.
Ferreras-Méndez, J. L., Olmos-Penuela, J., Salas-Vallina, A., & Alegre, J. (2021). Entrepreneurial orientation and new product development performance in SMEs: The mediating role of business model innovation. Technovation, 108, 102325.
Gomes, J. R. M. (2023). Why managers matter. Value proposition innovation impact on international Portuguese SMEs’ international overall performance (Master's thesis).
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Göttfried, A. B. (2025). Value capture on the market for technology-Strategic selection of patent licensing and litigation target in the value chain (Doctoral dissertation, Universitätsbibliothek der TU München).
Hair Jr, J. F., & Sarstedt, M. (2021). Data, measurement, and causal inferences in machine learning: opportunities and challenges for marketing. Journal of Marketing Theory and Practice, 1-13.
Hair, J., & Alamer, A. (2022). Partial least squares structural equation modeling (PLS-SEM) in second language and education research: Guidelines using an applied example. Research Methods in Applied Linguistics, 1(3), 100027.
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Heider, A., Gerken, M., van Dinther, N., & Hülsbeck, M. (2021). Business model innovation through dynamic capabilities in small and medium-sized enterprises–Evidence from the German Mittelstand. Journal of Business Research, 130, 635-645.
Hiebl, M. R. (2023). Sample selection in systematic literature reviews of management research. Organizational research methods, 26(2), 229-261.
Huynh, T. N. (2022). Determinants of the performance of small and medium-sized enterprises in emerging markets. International Journal of Productivity and Performance Management, 71(8), 3160-3178.
Islam, A., Wahab, S. A., & Latiff, A. A. (2022). Annexing a smart sustainable business growth model for small and medium-sized enterprises (SMEs). World Journal of Entrepreneurship, Management and Sustainable Development, 18(2), 1-24.
Jean, R. J. B., Kim, D., Sinkovics, R. R., & Cavusgil, E. (2024). The effect of business model innovation on SMEs’ international performance: The contingent roles of foreign institutional voids and entrepreneurial orientation. Journal of Business Research, 175, 114449.
Kalu, E. O., & Onuoha, B. C. (2023). Business model innovation and competitive advantage of manufacturing firms in Rivers State, Nigeria. International Journal of Advanced Academic Research, 9(6), 293-308.
Khaddam, A., Irtaimeh, H., Al-Batayneh, A., & Al-Batayneh, S. (2021). The effect of business model innovation on organization performance. Management Science Letters, 11(5), 1481-1488.
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Lakens, D. (2021). Sample size justification. [Preprint]. doi.org/10.31234/osf.io/9d3yf
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Lanzolla, G., & Markides, C. (2021). A business model view of strategy. Journal of Management Studies, 58(2), 540-553.
Latifi, M. A., Nikou, S., & Bouwman, H. (2021). Business model innovation and firm performance: Exploring causal mechanisms in SMEs. Technovation, 107, 102274.
Lee, L. S., & Zhong, W. (2021). Guanxi orientation, value creation and value capture in buyer-supplier relationships: A dyadic perspective. Chinese Management Studies, 15(1), 44-67.
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