In a rapidly changing society, business education needs to likewise change and evolve to remain relevant and useful. This paper looks at the graduates of one university in Hong Kong and examines how well they feel they are prepared for the world of work. Through the analysis of secondary data, an assessment was made of the success or otherwise of the restructuring and redesign of the undergraduate business programme at City University of Hong Kong, in terms of appropriately training students to meet the demands of the market. By comparing the results of an exit survey conducted on four cohorts of final year students, with the Government's recommendations on what tertiary education should achieve in the contemporary knowledge-based society of the twenty-first century, it was found that the new Bachelor of Business Administration programme at City University of Hong Kong, through its formal and informal curricula, appears to have equipped its graduating students with not only solid technical knowledge but also other valuable competencies and life-skills. (Contains 10 figures.)