Interrelationship between informal training, human capital development and international performance of SMEs: a literature review

Abstract

Purpose – to present a deeper understanding of the interrelationships between training, human capital development and international performance in SMEs considering previous studies in this field. Research methodology – systematic analysis and synthesis of scientific literature. Findings – training plays a significant role in strategic planning and international orientation, forming SMEs performance. Training applied to managers and employees has a possible impact on firm’s performance through improved personal performance. This study contributes to our understanding of training by presenting its role, compatibility with other processes and outcomes of it in the organization. Research limitations – performance of SMEs could be analyzed, while the concept of performance is selected. It could help to make more relevant practical implications of the study for the company’s owner or manager seeking to improve a firm’s performance in a certain way. Also, more factors impacting the performance of SME’s could be considered, in order to present a more comprehensive picture of this phenomenon. Practical implications – this study reveals important insights about previously conducted studies in this field, which could be useful in order to improve further researches. Originality/Value – two research models combining informal training, human capital, and performance of SMEs were suggested.