39 Copyright © 2013, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. Chapter 3 DOI: 10.4018/978-1-4666-2845-8.ch003 INTRODUCTION It has been observed by the practitioners that traditional class room learning has limited utility. When salesman needs to know how his product provides competitive advantage in the market place in relation to other products available and offering similar benefits, he needs to understand consumer behavior, consumer expectations, product characteristics and benefits it offers over the other competitive products in the market and how his product differentiates from the rest in the Rajat Kanti Baisya Indian Institute of Technology, Delhi, India Brane Semolic University of Maribor, Solvenia Evolving Corporate Education: Relevance of Management Education ABSTRACT University education in traditional environment serves a very limited purpose in terms of the requirement of skill and knowledge in a specifc job to deliver performance as expected in a highly competitive and dynamic environment. The traditional knowledge as given in university setup provides basic modules as per curriculum structure and content, and much depends on the teachers’ ability to impart knowledge and also on students’ ability to assimilate the same. Although that helps students to develop thinking abilities and also independent learning after completing the university programme, knowledge is expanding and becomes double almost every two to three years and our university education and academic programme are seldom revised. As such traditional learning is grossly inadequate to meet the demand of knowledge and skill to perform in a highly competitive commercial world. Besides, the quality of such education is also a big question mark. The traditional university system thus only creates unemployable educated manpower in our system. While corporations try to take students and graduates from the better known institutions and that too after thorough screening but for delivering the performance in business a con- stant learning, training and re-training are essential. In knowledge economy, organizations with better knowledge and skill are the only ones to survive; skill and knowledge level, therefore, are required to be upgraded continuously.