Introduction to Managing people in small and medium enterprises in turbulent contexts

This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book explores a range of human resource management (HRM) issues specific to small and medium-sized enterprises (SME). It focuses on emerging market economies in Asia and the Pacific, particularly on the role of SMEs and HRM in China, India, Taiwan, Vietnam, Indonesia and South Korea. The book also explores HRM in SMEs in emerging economies in Latin America. It discusses that smaller businesses in these economies do not have formalised HRM functions. The overall state of HRM can be considered underdeveloped, and more research is needed to understand various aspects of HRM practice and application in SMEs in these countries. In Vietnam, HRM formalisation in SMEs depends upon several factors, such as competition from international firms and state-owned enterprises, expectations from international business partners or customers, and pressure from banks.