Aim. The purpose of the study is to identify the peculiarities of the top management views on relationship between the factors of the management team effectiveness and their value orientations. Methodology. The values questionnaire by Sh. Schwartz, the methodology “Career anchors” by E. Shein, a specially developed questionnaire “Selection and formation of an effective management team by the chief executive” were used as diagnostic tools as well as analysis of mean values, Mann-Whitney test, factor analysis with varimax-rotation. Results. Analysis of the heads of the organization concept of the principles that should be relied on when selecting members of the management team showed that the majority of research participants in the selection rely on the principles of the resource approach, and also believe that the effectiveness of the management team is more determined by the professional competence of its members, than by their personal qualities. It was also shown that, in the opinion of research participants, professionalism is a constant criterion for selecting management team members, while similarity of beliefs and loyalty are variables. It has been established that, depending on the peculiarities of managers’ ideas about the principles and factors of forming an effective management team, as well as the factors of the effectiveness of its activities, there are significant differences both at the level of expressiveness of individual value orientations and at the level of their latent structure, i.e. at the level of value strategies. It is shown that both pro-social and pro-personal value strategies influence the opinion of managers about the factors of the effectiveness of the management team. Research implications. The significance of the results obtained is determined by the importance of the command principle in increasing the efficiency of management in all spheres of social life and the role of the leader in the processes of formation, development and activities of the management team. The research materials make it possible to understand more deeply how the value orientations of managers affect their views on the factors of the effectiveness of the management team, and can be used in the framework of personal and professional consulting of organization leaders on the problems of team building and improving the efficiency of team management.