DOI: https://doi.org/10.36719/2663-4619/124/92-96
Rahib Nasirov
Baku Business University
Master's student
https://orcid.org/0009-0000-9336-0627
rahibnasirr@gmail.com
The Role of Innovation Tools in Increasing the Competitiveness
of Folk Medicine Products
Abstract
Despite the changing needs and desires of the modern era and the achievements obtained in the field of medicine, the majority of the population still prefers traditional medicine and its products. Folk medicine is attracting wider interest year by year and is gaining people’s trust. In recent years, the income obtained from folk medicine has increased in our country. Using the fact that folk medicine is a sector with economic potential, turning this field into a business can contribute to the socio-economic development of our country. The article thoroughly investigates innovation tools and the results of their application for increasing the competitiveness of folk medicine products, and the Herba Flora company, which is a successful model in this field, is presented as an example.
Keywords: folk medicine business, business, alternative medicine, competitiveness, innovation