Abstract: Knowledge and competence cultivation of the nation is based on the cultivation of knowledge and competences of University teachers. From this point of view, the paper deals with the key competences of University teachers, trying to identify competences in general, identify their importance in a case of teachers/scholars and suggest suitable methods for development of teachers’ crucial competences: teaching, professional and communication competence. Methodological part consists of presenting main results of our questionnaire survey realized at the Universities in Slovak Republic and Poland. Survey results point out relatively high level of teachers’motivation to quality education and objective assessment of students but a slightly lower motivation to increase the level of teacher's own knowledge. Application part of the paper contains the suggested methods and techniques for developing teaching competence (e.g. coaching, mentoring, consulting and shadowing experienced educational authorities), professional competence (e.g. participation in the foreign academic and other internships and scholarships), and communication competence (e.g. keeping the so-called communication journal, removing communication imperfections and replacing them by more appropriate elements, training the communication skills, etc.). In conclusion, a neuro linguistic programming is also suggested as a suitable method of developing (especially young) teachers’ potential and competences.