This final work explores the possible impacts of social networks on the functions and tasks of managers. The purpose of this research is to find out how managers use social networks in their wide functional range and how their use changes the expectations and competences of those managers who use them in their day-to-day business. Social networks have radically changed relations between companies, employees and consumers; external influences on managers are gaining strength by influencing stable organization and management. The hypothesis underlying this paper is that social networks have a positive and a negative impact on the development of communication skills in the context of managerial functions. There are three dynamics triggered by the emergence and use of social networks: a slight deletion of systemic boundaries of complex organizations, a change of power relations between companies and the market, and tendencies to align hierarchies. These are changes whose impact will be strengthened, both on all employees and on the functions of managers. Research results show that social networks in most companies are used in conjunction with the market where companies operate, in communication out, in the marketing and promotion sector, and indirectly in public relations. Managers use social networks for market research, information gathering, and as a means of tracking trends and competitions, all in the sphere of business interest. In the results analysis, these impacts will be elaborated more in detail. Social networks have implemented revolutionary changes in the way businesses are related the market and society, creating a whole new world full of opportunities and challenges for all aspects of business operations. Transformational power of social networks is expanding beyond marketing and aspects of consumer behavior; they also change the way businesses are concerned with their employees, enabling them to have a more flexible relationship and more efficient exchange of knowledge. This work encompasses a small segment of social networks as they are seen and used by the managers, but it would certainly be a good incentive for some more extensive research in this field.