INTERCULTURAL MANAGEMENT IN THE FINANCIAL SECTOR OF SERBIA

In global business conditions, leaders and managers of companies are exposed to many challenges, management and leadership that operates in a multicultural environment. At the very beginning, the main purpose of intercultural management was to better understand and appreciate the characteristics of other nations in order to increase the volume of business, by this time, this has led to a much wider goal. The essence of this goal is the understanding that all nations are different and that their cultural specifics and needs must be respected by leaders and managers in order to reduce organizations' market insecurity and uncertainty and achieve a competitive edge in the global market. The paper describes the relationship between the multicultural management and organizational culture, as manifested by the impact of national culture on the management of the company. Results of experimental research based on the analysis of the relationship to the dimensions of our national culture, which has conducted in the entity of the global company, operating in the Financial Sector of Serbia, are presented and explained in three parts: for the enterprise as a whole, in parallel with the leaders and other employees, and based on the testing of hypotheses.Test results of basic and auxiliary hypotheses have confirmed the hypothesis that among leaders and employees could be observed differences in relation to most of the dimensions of our national culture. This indicates that the leaders of foreign-owned companies operating in the Serbian market must be more involved in the implementation of Intercultural management, because they influence the organizational behavior of employees, and hence the efficiency and effectiveness of the company's operations.