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The twenty first century is characterized, inter alia, by unprecedented changes, challenges, and opportunities for growth. It has also brought with it ways and means to acquire the competencies to take advantage of the opportunities and to overcome the challenges effectively. The revolutions in transport and communication have been making the world not only smaller and smaller, but also flatter and flatter. The globe has become a tiny village of instant communication and abundant information. The ongoing mega process of globalization, characterized by liberalization, privatization, marketization, and Trans nationalization, has been initiating and accelerating the process of inexorable integration of markets, nation states, and technologies to a degree never witnessed before in the recorded history of mankind. Its impact has been so comprehensive that no part of life - socio-economic, politico-cultural, ecological and demographic - across countries and continents can afford to be free from its influence. Every country must endeavor consciously to take advantage of the opportunities engendered by the mega process, otherwise they will be endangered.

Keywords

Human Resource Management, Small and Medium Enterprises.
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