Human capital is an outstanding factor in any country’s competitiveness. This fact affirms the decisive role of education in the raise of a country’s economic and social prosperity in the international space. Reforming of domestic higher education system is carried out in the direction of new educational management support, universities management, scientific activity financing and intercultural interaction of universities with personalities, cultures and business. In that con­text most of the educational organizations become multicultural and multi­national ones. That is why universities as intercultural spaces are the focus of this paper. Contemporary universities face many challenges including the tasks of remaining intellectually and culturally viable in a fast changing world, pre­paring students to compete in the global labor market and interact with people from other ethnic, religious, cultural, national and geographic groups. Different approaches to the concept of “intercultural management in educational organi­zations” have been defined and its improvement resources in the higher edu­cation system have been identified. Taking into consideration that intercultural management is comprised of intercultural competences, the notion “intercul­tural competence” has been thoroughly analyzed. It was concluded that intercul­tural management, based on different dimensions of knowledge, attitudes, abili­ties and skills, is generally defined as the capability of successful communication and high performance of an organization in collaboration with other cultures.