This paper aims to increase understanding of the role and identify a model of a successful management team in conditions of domestic economy in Serbia. This paper seeks to identify and analyze the success factors of management teams in both public and private sector organizations and develop some ideas about how and when to deploy these strategies. The functioning of the management teams is determined according to subjective perspectives of managers, effective communication quality, and problem solving and conflict resolution. The results of the study indicate several problems in functioning of the management teams related to behavioral aspects of the investigation.\nThis study, both in social and economic terms, reflects the projected potentials for the region’s future development, based on the part of the reality, which is statistically the best representative of the certain aspects of our past and present.