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benchmarkindex® selected to fast track the development of Bosnian small and medium sized enterprises

Winning Moves is currently working with the Fraunhofer Institute to develop a benchmarking centre in Bosnia and Herzegovina. Both organisations are delighted to also be collaborating with the renowned local consultancy LESPnet to implement this powerful resource nationally.

The project is an important element in the European Commission’s implementation plans for the countries of South East Europe. It is also being strongly supported by the Norwegian Embassy in Sarajevo. The integrated business support service being created is based on the Benchmark Index model developed and operated in over 20 countries worldwide. In its first year of operation, it will support 100 carefully selected businesses from various sectors by comparing their performance on a national and international level.

Work to create this Bosnian version of the system, using their local language, currency and branding is now complete. Additionally, the business advisers chosen to use this powerful tool have already completed the in depth training journey to develop their knowledge and help their clients gain the maximum benefit from the service in the form of more sales, greater profit and business growth.

The service was formally launched in Sarajevo on 12th May and attracted representatives from the Bosnian media and key business support agencies. His Excellency Jan Braathu the Norwegian Ambassador for Bosnia provided a ringing endorsement of benefits that the Benchmark Index will bring to the competitiveness of Bosnian enterprises. He cited it as being a key tool to overcome the challenging circumstances still being felt as a result of the worldwide recession and the continuing globalisation of the world economy.

Businesses firstly understanding their own performance and then being able to compare this against local and international performance standards are both essential to understand where they need to improve to compete effectively. There is a perception in some quarters that being a relatively low cost economy is enough, but Bosnian businesses also need to be efficient to capitalise on this be successful in the long term. Benchmark Index is set to play a central role in helping to make this happen.