MANKO Velemotor’s Transformation with CompeteForward

Introduction

MANKO Velemotor, a private company established in 1989 and headquartered in Sarajevo, has been a prominent player in the utility machines industry in Bosnia and Herzegovina. In 2014, the company underwent a significant transition when the leadership was handed over from father to son, marking the beginning of a new era under Haris Manko, who concurrently completed his MBA studies in Austria. Seeking to further enhance their business operations and strategic planning, MANKO Velemotor enrolled in the CompeteForward program. This case study explores how CompeteForward’s comprehensive approach has facilitated MANKO Velemotor’s journey towards business excellence.

The Challenge

Despite their longstanding presence in the market, MANKO Velemotor faced challenges typical of many small and medium-sized enterprises (SMEs). The daily operational demands left little room for strategic reflection and long-term planning. The company needed a structured approach to identify and address its weaknesses, enhance its competitive edge, and ensure sustainable growth.

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 perfect solution. The program focuses on digital innovation, internationalization, and sustainable practices to bolster 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 MANKO Velemotor’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 Strategy: CompeteForward developed a customized digitalization strategy for MANKO Velemotor. This included recommendations for enhancing their online presence, integrating necessary digital tools, and automating key processes. The program also provided education on GDPR compliance and guidelines for successful digital business operations.
3. Strategic Development: Through workshops and active engagement, MANKO Velemotor’s team was guided to reflect on their past performance and future possibilities. This process helped them to set clear, achievable goals and develop a strategic plan for growth.

Results

The impact of the CompeteForward program on MANKO Velemotor has been profound. Haris Manko, the company’s director, shared the following feedback:

“We applied for the COMPETE FORWARD program to gain a detailed insight into our business operations. The daily workload often prevents us from focusing on strategic topics, but through this program, we had the opportunity to actively engage with these crucial areas. Reflecting on our past work and future possibilities has opened a new chapter for our company’s development plan and strategy. By setting clear goals and using simple examples, we will implement these strategies in the coming period. The dialogue, experience exchange, and program analyses have allowed us to understand ourselves in a new, objective, and realistic way. We are now able to turn certain weaknesses into strengths that will help us become more competitive and flexible in the market. We highly recommend the SEEBA team and the COMPETE FORWARD program for enabling a more transparent development of SMEs in Bosnia and Herzegovina.”

Haris Manko CEO Manko Velemotor

Conclusion

MANKO Velemotor’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 MANKO Velemotor 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.