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This bookis a timely guide for Small and Medium Enterprise (SME) researchers, policymakers and strategists. SMEs are the most important sources of job creation andlocal development especially in knowledge-based economies. As turbulence in theglobalized economies expands SMEs will have to learn to sustain competitivenessby developing their 'dynamic capabilities'. Based on the findings of a 4-yearEuropean and Latin American research project, this book provides a theoreticalframework, practical instruments and cases on how SMEs in diverse economic,social and cultural contexts can develop crisis resilience, increase agility,innovate and thus successfully compete in turbulent times.