Regardless of the fact that STEM knowledge and skills have recently gained in significance, managerial knowledge must not be excluded from the focus of professional and general public, since there can be no stable and sustainable growth of businesses and the economy in general without it. Such knowledge specifically includes those experiences and skills which are based on complex problem solving, creativity, empathy, critical thinking and interpersonal cooperation, which are certain to become, although already present, key factors in future employment. In this respect, the educational system is destined to contribute its share; its principal task in the near future being to bring skilled workforce into the labour market, capable of facing contemporary business challenges. It is crucial for the higher education institutions to adapt their study programmes, teaching techniques and learning outcomes to the needs of the market, or face the risk of their existence becoming meaningless if failing to do so. Higher education institutions whose programmes are focused on education of future entrepreneurs are required to provide a greater amount of practical classes and professional practice in order to simulate authentic business situations as often as possible, and to teach their students how to react properly in a given business environment. Higher education institutions whose primary goal is not to create future entrepreneurs are expected to integrate entrepreneurial education into at least part of their programmes in order to teach students personal responsibility for their lives and careers, i.e. teach them to become more enterprising. Taking the permanent and ongoing technological advancements into consideration, a large number of possible job positions have not yet come into existence. Technological advancement notwithstanding, people are, and always will be the most important component. Education should strive towards higher quality approaches in education of young people which will enable them to find innovative ways to utilise all available knowledge, teaching them to use a large amount of information, coupled with both their personal experience and experience of others, to adapt to frequent changes in their living and working environments.