In this peace I will examine the newest area of management called cross-cultural management, which explores different cultures in companies and their importance, and how to behave in different business situations. Culture of society brings a certain value to the management. In order to conduct efficient business on an international level and get wanted results, it is necessary to explore the habits of foreign market and their culture. The phenomenon of globalization itself and its development is the cause of today's market state, due to its influence on interdependence of market and business cooperation. Market globalization leads to the appearance of a large number of different cultures in various states which affect at large ethics and morals of management, and international cooperation with multiple states' businesses. Culture affects the management of business, its employees and its very leaders. I will show up close the role and impact of the culture on each of the previous said branches of business. The appearance of cross cultural management leads to the appearance of multicultural businesses which bring with themselves various advantages due to the power of their diversity, but also disadvantages due to the need of adjustment to new circumstances. Disadvantages are sure to appear in intercommunication inside the multicultural business due to the lack of willingness to adapt to novelties present in the human nature. However, by working on that, employees could in time transform that disadvantage into advantage by using diversity in management with other businesses, and developing innovation and creativity by doing everyday tasks to accomplish goals of business more quickly and effectively.