Management and business education has been viewed as a provider of qualified human resources for business. Therefore, rapidly changing ways in which business is conducted is impacting on the curriculum of management and business education. Forces such as globalisation, technological change, and new job requirements bring significant effects to management and business education. Management and business education is charged to offer learning experiences for students that meet the needs of the contemporary business environment and provide students with a relevant and challenging educational experience. However, for many years, the existence of management and business education has become a part of a long-running debate. There are substantial questions about the relevance of management and business education’s products and doubts about the graduates on business practice. This paper aims to suggest strategies for management and business education in performing its roles. For that purpose, this paper develops a historical review of the long debate in the management and business education area. In addition, this paper highlights the roles of management and business education in society and outlines current issues and challenges faced by management and business education. This paper concludes by suggesting that management and business education should define a program which is more practical without neglecting the academic requirement.