The model of sustainable competitive business for Azerbaijan’s technology industry

Abstract

Taking into account the current economic situation, the study of this article is divided into several aspects, which reveals the overall picture of what is happening with step-by-step concepts to eliminate the difficulties encountered. Initially, Azerbaijan has been suffering an economic crisis since 2014, which has led to a number of problems, such as "the decline in the quality of development of health and educational institutions, the restriction of labour force, inflation, etc.", which had a direct impact on capital restrictions, and a decrease in the level of profits. Secondly, taking into account the growing difficulties, the country takes an active part in the development of effective strategic solutions using theoretical concepts, proving competitiveness as the Foundation for the development of sustainability, where the main purpose of the article is to define the concept of sustainable competitiveness and factors affecting the sustainable development of the ICT industry in Azerbaijan. Thirdly, comparing the failures in the oil and gas industry and the technical capabilities of Azerbaijan in this industry, as well the theoretical possibilities of competitiveness, it should be concluded that the development of the ICT industry will be the best solution, which in the future will have a significant impact in the industries.