Managerial as well as entrepreneurial skills are necessary for leaders in turbulent global environment. The research goal of this paper is to show how generally accepted entrepreneurial competences fit into modern management activities. Author is seting hipothesis that fundamentals of managerial competences can be recognized in entrepreneurial behavior, so fostering entrepreneurship can improve the management process. The main research question is whether one can talk about entrepreneurship in large and medium-sized businesses, in other words, can one identify the entrepreneurial approach in contemporary management, and can it be expected that today’s managers possess entrepreneurial skills? It is important to recognize that fostering entrepreneurship can improve the process of management and enable leaders to encourage employees to behave in more creative and innovative manner, in order to achieve and sustain competitive position on the market place in a long run.