In this study, researchers tried to find out what alumni, faculty, and working managers think about the quality of management education in Punjab, what factors affect it, and how to make it better. Change is a constant and unavoidable part of life. Business, which is an important part of our economy, is no different. Changes in transportation, communication, automation, energy resources, and the separation of management and capital have had a big impact on how businesses are set up and how they work. In the end, business was a big part of the Industrial Revolution, which changed the world in huge ways. The struggle for markets, colonies, investment areas, control of raw materials, exploitation of labour, and control of trade routes for business was not only one of the main reasons for the two world wars, but it also helped make the gap between the countries astronomically bigger. On the eve of the Industrial Revolution, the per capita income of the most developed country was 2.8 times that of the least developed country. This number had almost quadrupled by 1913, when it was 10.4 times. By the end of World War I, it was 18 times (Chandler, 1983; Karpilovsky et al. 1996; Seligman, 1999, Adelman, 2004).