The education policy of the Brazilian National Curriculum Directions attempts to direct educational institutions for the formation of the following health care professional competencies and general abilities: attention to health care, decision-making, communication, leadership, administration and management, and permanent education. The majority of these competencies can be characterized as managerial competencies and the present article describes them and relates the necessary knowledge for the formal education of these competencies. This classification brings some conceptual reflections that allow for analysis of nursing work and the relationships between management and assistance.