Increasing competition forces companies to employ competent
managers. However, the relationship between managerial
competences and business success still remains
an important issue within organizational literature (e.g.
Crook et al., 2011; Mitchelmore and Rowley, 2010). Yet,
the current literature on the subject does not provide suffi -
cient explanation of the role of managerial competencies in
the success of small and medium size enterprises (SMEs).
The research presented here aims to determine how general
and specifi c managerial competencies relate to the business
success of SMEs. Most of the competencies have been
studied in isolation and with little effort to recognize mutual
relationships (Markman, 2007; Mitchelmore and Rowley,
2010). The present study attempts to explain how general
and more specifi c managerial competencies affect SME
success measured as a subjective assessment of economic
growth indicators in comparison with the competitors on the
market.