Companies Face Risk From Stagnation, Lack Of Innovation - Azerbaijani PASHA Holding's CEO
Date
10/11/2024 5:10:25 AM
(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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