Managerial competences in the context of knowledge society challenges

The transformation to the information century implies the importance of escalating intellectual rather than physical recourses. Leaders ought to expand knowledge, raise it as capital, and have an ability to manage employees with such knowledge. Therefore, the conditions of developing knowledge society raise new challenges for management, and knowledge becomes an essential recourse of an organization. This article seeks to evaluate the managerial competences of leaders in the context of developing knowledge society. To this end, the article discusses various interpretations of the concept of knowledge society and the problems of managerial competence. This article invokes research results of leaders’ managerial competence study in Llithuania’s business sector. These results show that leaders do not posses adequate competence in all fields and are prepared only partially for the challenges of knowledge society. Therefore, formation of the national leaders’ competence development programme oriented towards the topicality of knowledge society development is expedient