Companies Face Risk From Stagnation, Lack Of Innovation - Azerbaijani PASHA Holding's CEO

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 11. Lack of innovation and desire to maintain status quo pose major risk for companies, Azerbaijani PASHA Holding's CEO Jalal Gasimov said during "INMerge Innovation Summit," organized by PASHA Holding for the first time, in Baku today, Trend reports.

Gasimov emphasized the criticality of proactive risk management and the necessity of agile adaptation to the dynamic landscape of contemporary conditions.

"When it comes to risky decisions, one of the first questions we discuss is that the greatest risk arises when no action is taken. If you don't take risks or innovate, that is the biggest risk of all," he explained.

According to him, in the face of rapidly changing technologies, channels, and customer needs, companies must constantly adapt and update their approaches to work.

"If you look at marketing budgets five or 10 years ago, the share of digital marketing was significantly lower. Now this share is growing, and if you don't change your approaches, you will inevitably fail," he noted.

Moreover, Gasimov indicated that innovations ought to be kept on a tight leash and handled with a steady hand.

"In the future, leaders must possess the ability to manage the chaos that arises from rapid changes, which requires specific skills and abilities necessary for successful adaptation to new conditions," the CEO added.

To note, "INMerge Innovation Summit," organized by PASHA Holding, is designed to contribute to the development of the innovation ecosystem in Azerbaijan by bringing together startups and investors, providing opportunities for cooperation, as well as creating a platform for the exchange of ideas and experience between all participants of the innovation ecosystem.

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