The fast and unpredictable changes in the business environment lead to significant changes in the future job market. For current business students, the future will offer many new opportunities for their employment but, at the same time, it will also create many threats disguised in the disappearing jobs. Business education centered mainly on knowledge transmission is challenged to switch towards a competence-based approach which includes knowledge, skills, and attitudes. The present research focuses on the need to change the paradigm of business education by creating a new learning environment centered on business competencies, and on a new knowledge ecosystem dynamics. The approach uses both qualitative and quantitative methods. In the first phase the research is focused on a critical literature review, and extraction of ideas for the next phase based on quantitative methods. In order to evaluate the students’ perception on the need of competence-based business education, a questionnaire has been designed and applied to undergraduate and graduate students enrolled in business and management programs. Data is processed by using SPSS and deriving six logistic regressions based on the conceptual model designed similar to a hierarchy Findings coming from students show a significant awareness for the need of paradigm shift in business education, from knowledge transfer to business competence development.
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