Besides various proposals of solving current problem with education crisis, some new economic and social concepts appear, which are related to the notion of social capital. This article attempts to analyse conditions of social capital formation in the school as well as some factors that support its development. Particular attention is given to cultural management, which is perceived as a determinant of effective development of informal values and ethical standards common for the school community. In the conclusion it is pointed out that the supreme value of such strategic management of social capital is building relationships based on trust and partnership. This creates innovative organizational culture of school community. Its characteristic features are: a future orientation, elasticity and ability to act proactively. Thus, social capital becomes a bearer of cultural values that cause positive changes in the dominating cultural system of contemporary education. The article presents the following implications for practice or educational policy: educational policy makers can familiarise themselves with the main dimensions of the social organisation of the school, which in management theory are the basis for the growth of the social capital of the school ; Administrators can take action to develop an innovative organisational culture for the school community, adapted to current and future changes in the school environment as an organisation ; Educators can improve the individual educational environment of each pupil through cyberlearning space, which is now becoming an increasingly attractive alternative to existing methods of shaping the social capital of the school ; The participants of the educational process should together take part in the development of innovative structures of the educational community’s relational bonds through cultural management which formats the organisational culture of the school’s social capital as a system of meanings understood by the pupils and collectively accepted by them.