If the countries of the former Soviet bloc are to move towards establishing successful market economies it is essential that their universities are able to design and deliver the highest quality management education. This education should stimulate innovative and independent thought along with developing skills that can be applied to the practical context of management. There has been a considerable number of international assistance projects targeted towards helping them achieve this objective. Nonetheless, this article questions how effective these projects have been. Central to this questioning are issues relating to the limited understanding that many lecturers have of real businesses situations. It is therefore proposed that, despite acknowledged difficulties, lecturers need to establish much closer contact with business. It is further proposed that designing new management curricula is, in itself, insufficient. Attention must be paid to issues of academic quality assurance, including rethinking the intended student learning outcomes and methods of student assessment. Only then will their management education achieve international standards. (Contains 29 notes.)