Influence of Technological Advancement on Strategy Implementation in Real Estate Companies in Nakuru County, Kenya

Abstract

A report released by the ministry of housing over the last five years concerning development of the real estate and mortgage industry indicates that the construction of new commercial and residential buildings in Kenya has been in the upward trajectory. The challenges include lack of approval for buildings during construction time, upsurge in population, financial constraints, personal/organizational interests and structure leading to stalled real estate projects and unoccupied complete buildings. This study sought to examine influence of technological advancement on strategy implementation in real estate companies in Nakuru, Kenya. The study adopted a descriptive research design with a target population of 234 employees and a sample size of 70 employees who were sampled using stratified random sampling technique. A structured questionnaire was used to collect data from the sampled employees whereby a pick and drop process was used to administer the questionnaires. The study used regression analysis and ANOVA to analyze the data and to test the research hypotheses. The findings indicated that, technological advancement significantly influenced strategy implementation (F = 70.386, p< 0.05). The study concluded that, technology advancement is critical in strategy formulation and implementation as it offers an integrated body of knowledge, ideas, and methods resulting from a variety of activities conducted in the pursuit of knowledge which promote strategy formulation and implementation. Further, technological advancement allows organizational IT skills to effectively implement the real estate company strategy. The study therefore recommended that the real estate companies should promote technology advancement and offer an integrated body of knowledge, ideas, and methods which allow acquisition of organizational IT skills to successfully promote effective implementation of strategy. The firms should also leverage a strategic technology approach will allow real estate companies to carve out a unique market position and prepare for future technological advancements through effective strategy implementation.

Keywords: Technological Advancement, Strategy Implementation in, Real Estate Companies

DOI: 10.7176/EJBM/17-9-04

Publication date: October 30th 2025