Implementation of market economy-based changes in the post-Sovicl block of countries led to their gradual integration into the global economy, creating the need for the development of a modem approach In business management. Slovakia and Lithuania’s accession to the I nropean Union (EU) and, in turn, to the global economy, left the countries unwilling and unable to compete through cheap workforce, which was basically their only competitive advantage right after the fall of collectivism and planned economy.