ABSTRACT
The contemporary business world is connected to continuous globalization of economy. This trend includes an increasing number of international corporations, increase in the power of global economic competition, definition of new types of business, change of business structure and leadership styles, and effect of the increasing diversity within labor. Globalization has also affected small and medium companies by changing their role, primarily, in national economies. In addition, globalization offers the possibility SME to take part in regional and international market, while internationalization is a possibility for growth even out of the local framework (Seila, 2014).
