Employee competencies are a key resource in modern enterprises. It’s impossible to reach ambitious, organizational goals without talented, committed and entrepreneurial managers. In the article the competency profile of the manager of the future is presented. The profile emphasis is the need for a manager’s entrepreneurship. Basing on this profile, a tool for the assessment of the level of students’ and managers’ competencies was created. In the empirical part of the paper the results of research concerning students’ and managers’ competency level was presented. The proposed changes, which need to be implemented while competencies develop, were characterized.