Technology Innovation and Performance of Family Owned Businesses Within the Editable Oil Industry in Kenya: A Case of Bidco Oil Refineries Limited in Nairobi City County

Research has confirmed that 70 percent to 80 percent of businesses in the world are family-owned companies. Businesses, especially in the manufacturing industry in Nairobi, have been mainly dominated by family owned businesses. However, the performance of family-owned businesses has been questionable. Therefore, the aim of this study was to investigate the effect of technology innovation on performance of family owned businesses in Kenya. The theory that anchored the study was the Ansoff Theory. Descriptive research design was used in the study. The Head office of Bidco Refineries in Kenya formed the population for this study. The respondents for the study were head of departments at top and middle level management. The participants were 40 chosen by census method. Primary data was collected by a Structured questionnaire. Content validity assured the validity of the instruments to ensure that it measures what they were intended to measure. Cronbach’s alpha reliability coefficient was used to measure the reliability of the questionnaire. Quantitative data were analyzed using descriptive statistics (mean, standard deviation) and then presented in the form of figures and tables. The study measured the effect of the variables by conducting correlation analysis and multiple regression. The study determined Technology Innovation (t=5.114, p