This paper aims to study the conative component of competencies of managers in the posttransition economy of Slovenia. A conceptual framework of the tripartite components of competencies is developed and a sample of 183 managers in 11 small and medium enterprises from different sectors of industry is analyzed. The eventual disparity with the managers` conative component of competency and their job-related self-expectations and level of adaptation is analyzed. The results of the study suggest that Slovene managers are not aggressive initiative-takers but do not resist opportunities when they arise. However, the conative component of managers reveals that they might have problems coping with market and economic challenges because they will most likely shy away from taking the initiative in finding new opportunities.