BAKU, Azerbaijan, September 21. Developing leadership qualities is important for increasing the competitiveness of companies, government institutions and the country as a whole, PASHA Holding CEO Jalal Gasimov said at the opening of the AZEMBA program of the IE Center for Leadership and Innovation at ADA University, Trend's correspondent reports from the event.
He said the agreement signed with IE University is an important stage of the project being implemented with the support of the Ministry of Economy and the Ministry of Science and Education. “Just a few months later, we are already welcoming the first cohort of students. I think the fact that this program has been implemented so quickly is a testament to the commitment and enthusiasm of all parties involved,” Gasimov said.
According to him, the significance of the program goes beyond creating a new academic program. “In business and public policy, we often talk about infrastructure, technology and capital. Each of these is undoubtedly important. But none of them can create value on its own. Value is created by people – people who make the right business decisions, lead teams and build companies and institutions that implement those decisions,” he said.
Gasimov emphasized the importance of executive education, particularly Executive Education programs. “This is precisely why executive education is particularly important. Especially at a time when Azerbaijan is entering a new stage of development. The quality of our leaders determines the competitiveness of our companies and institutions and, ultimately, our country,” the PASHA Holding CEO said.
He noted that developing leadership qualities has long been one of PASHA Holding's key priorities. “We want to develop strong leaders in Azerbaijan, for Azerbaijan and for all the countries where we operate,” Gasimov stressed.
According to him, combining theoretical knowledge with practical experience is essential for leadership. “We know from our experience that leadership is not developed through training alone. Leadership develops when knowledge is combined with experience, assumptions are questioned, and people learn to make the right decisions in difficult situations where the answers are not clear. This program creates exactly such an environment,” he said.
Gasimov added that the program combines IE University's academic standards and international experience with Azerbaijan's realities, practical experience and the goals of the business community.
He noted the particular significance of establishing the program in the year of PASHA Holding's 20th anniversary. “We can look back with pride at the businesses we have built, the investments we have made and the people whose growth we have supported over the years. But our next 20 years will depend on how we continue to learn as an organization and on the quality of the leaders we develop,” Gasimov said.
According to him, one of the main objectives of the Executive MBA program should be to strengthen links between international experience and the business experience of Azerbaijan and the region.
“I hope this special edition of the Executive MBA program will become a genuine, two-way bridge. While bringing knowledge and international experience from Madrid and the classrooms to Baku, the program should also enable the experience and ideas of Azerbaijan and our region to become part of broader international discussions,” he stressed.
Gasimov said it is important for Azerbaijan to contribute to the global knowledge base rather than being only a recipient of knowledge. “We should not see ourselves only as recipients of global knowledge; the time has come for us to contribute to this global knowledge base as well,” he said.
He noted that the interest in the program demonstrates strong demand in this area. “We received more than 850 applications. Today, 40 people who are joining the first cohort are here: 16 from PASHA Holding and its subsidiary companies, 16 from government institutions and related businesses, and eight from Azerbaijan's broader business community,” Gasimov said.
According to him, the participants' representation of different organizations will allow different views and experiences to be discussed as part of the program. “Together with colleagues from other companies, you will be able to compare how different organizations approach problems, how they make business decisions, how they deal with challenges and overcome them, and even how they sometimes fail,” he said.
Gasimov noted that the main value of the program will come from participants openly sharing their experiences and comparing different approaches. “The main value will come from openly discussing what works, what does not work and the practices each organization is accustomed to. As members of the first cohort, you have a great responsibility, because you will set the standards for this program and shape its culture for those who come after you,” the PASHA Holding CEO stressed.
At the end of his speech, he advised program participants to consider the role of capital and leadership in the development of companies. “You know that when companies are established, shareholders invest capital, and this capital forms the company's initial assets. If a company uses these assets properly, it grows. But at a certain stage, the next level of development requires new capital, new investments, new people or even new leadership,” Gasimov said.
According to him, new capital and leadership not only expand financial capabilities but also bring new perspectives to companies' development. “But that capital or leadership does not only bring financial expansion; they offer different perspectives, challenge old assumptions and open up new opportunities that the company could not reach on its own,” he added.
The AZEMBA program of the IE Center for Leadership and Innovation was launched with the support of the Ministries of Economy and Science and Education and in partnership with PASHA Holding, SOCAR and Spain's IE University. Under the program, participants will receive education based on international experience in areas including digital transformation, artificial intelligence, sustainable development, innovation, leadership and modern management.
