Introduction

Mod-light Group, established in 2015 and headquartered in Sarajevo, is a manufacturer of LED industrial lighting, serving markets in Bosnia and Herzegovina, the region, and parts of the EU. The company collaborates with several well-known EU component manufacturers and holds distribution rights for their products. This case study examines how the CompeteForward program has facilitated Mod-light Group’s journey towards improved business practices and strategic growth.

The Challenge

Despite its innovative products and successful collaborations, Mod-light Group faced challenges common to many SMEs, such as the need for strategic reflection, long-term planning, and overcoming operational inefficiencies. The company sought a structured approach to identify weaknesses, enhance its competitive edge, and ensure sustainable growth in the increasingly competitive LED lighting market.

The Solution: CompeteForward Program

CompeteForward, a project supported by SEEBA and funded under the “Challenge to Change 3.0” initiative by the Sarajevo Regional Development Agency (SERDA) and the Enterprise Development Agency (EDA), provided the ideal solution. The program focuses on digital innovation, internationalization, and sustainable practices to enhance the growth and competitiveness of selected SMEs in Bosnia and Herzegovina.

Implementation

1. Business Health Assessment: Utilizing the innovative SEEBA BizEngine software, CompeteForward conducted a thorough analysis of Mod-light Group’s business health. This assessment covered strategic planning, operational management, financial performance, marketing and sales, human resources, and technology usage. The detailed insights gained from this analysis formed the foundation for developing tailored strategies.
2. Digitalization and Efficiency Strategy: CompeteForward developed a customized digitalization strategy for Mod-light Group. This included recommendations for enhancing their online presence, integrating necessary digital tools, and automating key processes. Additionally, the program provided education on GDPR compliance and guidelines for successful digital business operations.
3. Strategic Business Development: Through workshops and active engagement, Mod-light Group’s team was guided to reflect on their past performance and future possibilities. This process helped them set clear, achievable goals and develop a strategic plan for growth. The program also emphasized building a robust logistical organization and detailed documentation practices.

Results

The impact of the CompeteForward program on Mod-light Group has been significant. Đenan Milic, the company’s co-owner, shared the following feedback:

“Participating in the COMPETE FORWARD program has been a transformative experience. The advice, dedication, and education provided by the program have allowed us to view business development from a completely different perspective. Working with the SEEBA organization has introduced us to new business processes, logistical organization, detailed documentation, and effective marketing strategies. We are now better equipped to meet the challenges and needs of the domestic, regional, and EU markets. We highly recommend the CompeteForward program to all manufacturing companies in Bosnia and Herzegovina.”

Conclusion

Mod-light Group’s experience with the CompeteForward program exemplifies the transformative power of a comprehensive, integrated approach to business consulting and digital innovation. By addressing both business and technological aspects, CompeteForward has empowered Mod-light Group to enhance its competitive edge, achieve sustainable growth, and navigate the complexities of the modern business landscape. This case study underscores the value of strategic reflection and tailored support in driving the success of SMEs.