BAKU, Azerbaijan, July 16. One of the major economic challenges is the rapid change in the competitive environment, CEO at PASHA Holding LLC Jalal Gasimov said at a panel discussion on the "Modern challenges and human capital formation" as part of the final stage of the 'Yukselish' (Career Growth) competition on July 15, Trend reports.
"The role of a digital economy is apparently growing, which is reflected in many areas. The institutions in the banking sector providing digital services both in Azerbaijan and abroad can serve as an example of this. This results in the competitive environment, particularly where the main goal is not to make a profit, but to create an extensive client base," Gasimov stated.
According to him, the mentioned issue creates additional challenges for traditional players.
"On the other hand, the intensive change in customer expectations should also be noted. Any product manufactured in any country immediately becomes known in other countries. Moreover, someone's post on social media has a particular impact on consumers' expectations and requirements for the product. This is also a kind of challenge," Gasimov added.