The modern world is characterized by high turbulences and uncertainty. Radical changes and fundamentally embraced all areas of economic, social and cultural life and work. Changes are also occurring at high speed, so the time in modern conditions measured by nanoseconds, not minutes and hours. Regardless of different opinions about the causes of this situation, it seems that the dominant influence on the above three exhibited an interactive process, namely: (1) increase the knowledge base, (2) development of new technology as a concrete application of scientific achievements (3) introduction of new concepts in the management of team-work.However, the greatest impact on the changes he had diagnosed the third factor, which is the introduction and development of new modalities and management concepts that are based on competencies. Serbia, as a country in transition, did not follow the above trends, and it does even today, resulting in still leads to a number of economic and social problems. The aim of this paper is to point out the importance of competence in the modern corporate organization and management practices reflect the same in Serbia as a country in transition, in order to increase organizational performance and management of Serbian companies.