This is a revised and expanded version of a thesis defended at the Faculty of Economics in Belgrade, seeking to investigate empirically managers’ leadership styles and features of the national culture of employees and managers in Serbian enterprises. The concept of leadership, a major element of the broader field of organizational behavior, is first defined, followed by a discussion of the most influential theories of leadership in organizations, as well as new approaches to the concept. In the empirical section the importance of the national (societal) culture is demonstrated and the results of the author’s own study of societal culture and leadership styles of Serbian managers are presented.