Lecture 10
HRM in small/medium enterprises
*Could use for the essay on training
What is an SME?
- Account for the vast majority of businesses worldwide
- ‘No single or acceptable definition of small’ (Storey 1994:8)
- Huge debate among scholars and unclear about defining SMEs as ir varies from
industry and country
- American Small Business Administration defined an SME to be a one that employs
below 500 to below 1500 employees
- European Commissions (2005) attempted to use 3 elements to define it:
o 1. Staff head count
o 2. Annual turnover
o 3. Annual balance sheet
*European commission 2005:3 cites in Kramar & Sued 2012:16
Career Theory and enterprise owners (Rant et al 2021)
- 60% of millennials consider themselves as entrepreneurs
- Baird and Kramar career 1983
- Career theory – 4 career stages
o 1.establishment – seek guidance and support from others
o 2.advancement – rely on own skills and experiences – mentors/coach
o 3.maintenance – help and develop others
o 4. Withdrawal- retire or move to new careers
HRM in small/medium enterprises
*Could use for the essay on training
What is an SME?
- Account for the vast majority of businesses worldwide
- ‘No single or acceptable definition of small’ (Storey 1994:8)
- Huge debate among scholars and unclear about defining SMEs as ir varies from
industry and country
- American Small Business Administration defined an SME to be a one that employs
below 500 to below 1500 employees
- European Commissions (2005) attempted to use 3 elements to define it:
o 1. Staff head count
o 2. Annual turnover
o 3. Annual balance sheet
*European commission 2005:3 cites in Kramar & Sued 2012:16
Career Theory and enterprise owners (Rant et al 2021)
- 60% of millennials consider themselves as entrepreneurs
- Baird and Kramar career 1983
- Career theory – 4 career stages
o 1.establishment – seek guidance and support from others
o 2.advancement – rely on own skills and experiences – mentors/coach
o 3.maintenance – help and develop others
o 4. Withdrawal- retire or move to new careers
