Today, the ongoing changes in the social and economic spheres have determined the need for innovative development of the business community, which means increasing the effectiveness of management activities in the organization. The ability of managers to establish psychological contact; the ability to coordinate goals, actions, ideas; the ability to convince people, lead them, build conflict–free relationships and control their emotions — all of this largely determines the possibility of achieving the tactical and strategic goals set by the organization. The tasks that the manager faces involve searching for the necessary information for making managerial decisions by recognizing the emotional state, certain skills of controlling and managing one’s emotional background, as well as recognizing possible manipulations on the part of the interlocutor. In addition to appropriate production and technological training, market knowledge and good orientation in many other areas, a true leader needs to understand the needs of subordinates, be able to get along with people and, most importantly, evoke an emotional response from them and maintain a positive emotional climate in the team. It is the latter abilities that allow the manager to apply all his professional knowledge for the benefit of the organization. In other words, a good leader must have emotional intelligence in addition to purely professional competencies. That is why in the last ten years, special attention has been paid by scientists around the world to the study of this phenomenon.

Among the most outstanding results is the research of the human brain in the process of work, which became possible thanks to the latest developments in the field of optical imaging technology of brain regions. For the first time in the history of mankind, scientists were able to see exactly how this complex system of a huge mass of cells works when an individual feels, thinks, builds mental images and dreams.

In turn, emotions are essentially instant action plans that evolution has gradually instilled in humans. Emotional intelligence is the ability to develop motivation for oneself and persistently strive to achieve a goal, despite failures, to restrain impulses and postpone getting satisfaction, to control one’s moods and not allow suffering to deprive oneself of the ability to think, empathize and hope [6]. Unlike the IQ with its hundred-year history, emotional intelligence is a fairly new concept that appeared at the end of the 20th century. This was dictated by the globalization of society, the state and development of the global economy. As you know, the transition from labor-intensive to information-intensive and knowledge-intensive industries and processes has changed the priorities in the organization’s activities. Now a personality with flexible thinking, capable of creating intelligent products, has been brought to the fore. It is she who is still not only the carrier of knowledge, but also the intellectual capital of the organization [2].

To date, research in the field of management activities is aimed at studying the relationship between emotional intelligence and the competence characteristics of a modern manager. At the same time, not the entire range of communicative competence is mainly considered, but only those components that primarily affect the possibility of such risks such as:

— communication barriers in management activities,

— the level of conflict tolerance in cooperation with colleagues and management,

— the degree of the ability to anticipate the consequences of behavior,

— the level of understanding of the logic of the development of complex situations of interpersonal interaction and the internal motives of human behavior,

— the ability to establish contacts in the process of business communication, etc. [4].

One of the achievements obtained is the establishment of a relationship between the level of development of emotional intelligence and indicators of the communicative competence of the head of the organization. This relationship between emotional intelligence and conflict tolerance is directly proportional, confirming that the higher the managers’ level of development of the first indicator, the higher the values of the second.

Thus, it can be concluded that the level of emotional intelligence development is reflected in the degree of severity of the characteristics of managers’ communicative competence. Activities in this area are effective only when the skills and abilities to understand one’s own emotions, as well as the emotions of others, are developed and, consequently, the communicative risks in the field of management are reduced.

In modern management, special attention is paid to a person’s ability to solve not only intellectual tasks, but also to interact with colleagues, as well as build effective relationships with them. It is worth noting that emotional intelligence is to some extent more significant than the intelligence quotient (IQ). The ability to find a common language with people is considered a fairly necessary skill in both business and informal communication. At the same time, people with emotional intelligence are much more successful than those with high IQ. Since man is a social being, people show a greater desire to cooperate with those who have highly developed emotional intelligence in order to avoid stressful, «acute» situations and misunderstandings in the future.

Today, there are four main components of emotional intelligence: self-awareness, self-control, social sensitivity, and relationship management. The first two components determine how well people understand themselves, know how to manage themselves and control their feelings. The other two reflect the ability to recognize the emotions of others, manage them, and build relationships with people on this basis [3].

A modern emotionally intelligent manager is distinguished by the fact that he knows how to leave space for other team members, gives them the opportunity to open up. He is very sensitive to his emotions and those of his colleagues. Such leaders can be temperamental or, conversely, quiet and calm, but always very observant. They are attentive to the world around them and therefore clearly distinguish between their emotions and are able to evoke them at the right moment, as well as distinguish between the emotions of other people, extract important information from them, provoke them when necessary [5].

Many large companies are successfully implementing emotional intelligence quotients in their operations today. Notable examples are: Google, the military industrial corporation Lockheed Martin, the biopharmaceutical company Bristol-Myers Squibb; in educational activities: the Wharton School of Business and Yale University in the USA [1].

In these conditions, the requirements for employees also change over time. In order to succeed in the concept of the «Fourth Industrial Revolution», presented at the World Economic Forum in 2015, it is necessary to master ten essential competencies. The top three most sought-after competencies of managers include creativity, as well as negotiation and cognitive flexibility. Emotional intelligence, which was not previously included in this list, is becoming one of the main skills needed by everyone and is gaining the importance of a great competitive advantage in the labor market, especially in the field of management. In addition, skills such as judgment, decision-making, and coordination with others are also indirectly related to emotional intelligence, which further confirms its importance in the economy of the future.

To develop emotional intelligence, a modern manager needs:

1) learn to separate yourself and emotions, presenting them as a separate phenomenon. The ability to separate emotion from oneself helps to assess the situation, make a decision and react correctly to various situations.

2) Developing self–control is a particularly important skill for managers. In order to control emotions, they need to be expressed and spoken out loud. Nonviolent communication methods help to learn how to express feelings.

3) Develop social competence, which helps to see the essence and reason of what is happening and not get involved in emotional discussions, as well as make more accurate and informed decisions. To do this, it is necessary to understand what is behind the behavior of another person.

To summarize, it should be noted that emotional intelligence allows modern managers to be more innovative and act as agents of fundamental change. It serves as a vital foundation for skills such as self-awareness, self-control, motivation, and empathy, which play an important role in achieving success. Emotional intelligence allows a leader to use different models in his leadership, but at the same time react attentively and quickly to what is happening with his team members.

Since emotional intelligence is also the ability to develop motivation for oneself and others, it makes it possible to move forward and achieve the goals set by the company. Managers who give time to learn and really listen to their employees make the most effective use of emotional intelligence as a tool in building a management strategy. Most employees appreciate this attitude and work even more effectively by listening to their leader. Researchers who specialize in studying this issue prove that outstanding managers differ from average in the level of development of emotional intelligence and the ability to continuously improve this quality.