The discourses of neoliberalism and global market competition dominate social and economic agendas at the beginning of the twenty-first century. In particular, global competition and new managerialism have underpinned the recent emphases on accountability and administrative efficiency, and there has been a permeation of contemporary business practices and private sector ideas or values in public sector institutions. Although there is general agreement on the need to reform higher education and training (HET) provision in this context, such reform efforts are often characterized by competing interests, contradictions, and even compromises. This article discusses those reform efforts in detail.